“人才新政”、人力资本质量与企业信息环境——来自管理层预测的证据  

“New Talent Policy”,Human Capital Quality and Corporate Information Environment——Evidence from Management Forecast

作　　者：甄玉晗 ZHEN Yu-han(Chinese Academy of Fiscal Sciences,Beijing 100142,China)

机构地区：[1]中国财政科学研究院,北京100142

出　　处：《山西财经大学学报》2024年第4期68-81,共14页Journal of Shanxi University of Finance and Economics

摘　　要：以2017年起各地陆续实施的“人才新政”作为准自然实验,实证考察人力资本质量对管理层盈余预测准确度的影响及其作用机制。研究发现,“人才新政”会提高管理层盈余预测准确度,其作用机制是通过减少信息不确定性和降低盈余波动性来实现的,且“人才新政”有助于企业获得更多的高质量人力资本。异质性分析发现,当地区人才存量少和企业资本密集度高时,“人才新政”对盈余预测准确度的影响更显著。深入分析还发现,“人才新政”会提高企业内部控制质量、减少财务重述、降低盈余管理,进一步证实高质量人力资本能改善企业内部信息环境的结论。Taking the“new talent policy”implemented in China since 2017 as a quasi-natural experiment,this study empirically investigated the impact and action mechanism of human capital quality on the accuracy of management earnings forecast.The findings indicated that,the“new talent policy”has improved the accuracy of management earnings forecast by reducing information uncertainty and decreasing earnings volatility.Meanwhile,the“new talent policy”was conductive to enterprises'acquisition of more high-quality human capital.Heterogeneity analysis revealed that,this positive effect of the“new talent policy”was more significant in capital-intensive enterprises and the enterprises having a fewer regional storage of talents.Further in-depth analysis showed that,the“new talent policy”could enhance the quality of enterprises'internal control,curtail financial restatements,and reduce earnings management,thereby further proving the conclusion that high-quality human capital could improve corporate internal information environment.

关 键 词：“人才新政” 高质量人力资本 自愿性披露 管理层盈余预测 信息环境 

分 类 号：F249.2[经济管理—劳动经济] F272.91[经济管理—国民经济]