超额商誉对企业研发支出资本化的影响研究  

Research on the Influence of Excess Goodwill on Capitalization of R&D Expenditure

作　　者：安世强 张金昌[1,2] AN Shiqiang;ZHANG Jinchang(University of Chinese Academy of Social Sciences,Beijing,China;Chinese Academy of Social Sciences,Beijing,China)

机构地区：[1]中国社会科学院大学商学院 [2]中国社会科学院工业经济研究所

出　　处：《管理学报》2024年第6期928-937,共10页Chinese Journal of Management

基　　金：中国社会科学院重点登峰战略企业管理与会计学优势学科建设项目(210203005)。

摘　　要：基于研发支出资本化的研究视角,考察超额商誉引致的管理层会计操纵行为,并以2007~2021年A股上市公司为样本,实证检验超额商誉对企业研发支出资本化的影响效应。研究发现,超额商誉与研发支出资本化显著正相关,超额商誉促使企业增加研发支出资本化以提高当期会计利润。中介效应检验发现,超额商誉通过增加银行信贷融资约束和商业信用融资约束,进而对研发支出资本化产生正向影响,银行信贷与商业信用两类融资约束具有部分中介效应。分组检验发现,超额商誉对研发支出资本化的正向影响存在企业产权性质、行业技术水平和内部控制质量异质性,两者的正相关关系主要出现在非国有企业、低技术企业和低内控质量企业之中。This study examines the managerial accounting manipulation caused by excess goodwill from the perspective of capitalization of R&D expenditure.Taking A-share listed companies from 2007 to 2021 as samples,this study empirically examines the effect of excess goodwill on capitalization of R&D expenditure.The empirical study find that excess goodwill has a significant positive correlation with capitalization of R&D expenditure,and that excess goodwill encourages enterprises to increase capitalization of R&D expenditure to improve current accounting profit.The intermediary effect test shows that excess goodwill has a positive impact on the capitalization of R&D expenditure by increasing bank credit financing constraints and commercial credit financing constraints.Bank credit financing constraints and commercial credit financing constraints have partial intermediary effect.Heterogeneity analysis test shows that the positive correlation between excess goodwill and capitalization of R&D expenditure has differences in property right nature,technical level of industry and internal control quality.the positive impact of excess goodwill on capitalization of R&D expenditure is more common in non-state-owned enterprises,low-technology enterprises and enterprises with low internal control quality.

关 键 词：超额商誉 研发支出资本化 银行信贷融资 商业信用融资 

分 类 号：C93[经济管理—管理学]