金融发展环境与稳健会计信息的定价功能

发布时间：2018-01-10 19:29

本文关键词：金融发展环境与稳健会计信息的定价功能　出处：《财经论丛》2014年03期 　论文类型：期刊论文

【摘要】：稳健的会计信息报告环境是控制企业信息风险,进而维护投资者合理权益诉求的重要信息保障。利用Khan et al(2009)提出的衡量会计信息稳健性的C得分法,考察了会计信息发挥资本配置治理功能的制度环境基础。以投资者对企业现金资产定价衡量资本配置效率,研究发现会计信息披露越稳健的公司,投资者给予该公司持有的现金资产更高的市场定价,并且这一显著的正相关关系在处于发达金融发展环境地区企业中表现得尤为显著。研究表明,随着金融发展环境的改善,投资者更重视稳健的会计信息对资本配置效率基础性指导作用,该研究回答"谁需要稳健的会计信息"这一问题。
[Abstract]:Robust accounting information report of environmental control is the enterprise information security risks, important information and safeguard the legitimate rights and interests of investors and demands. Using Khan (2009) et al proposed C score method measure of accounting conservatism, the basic system of environmental effects of accounting information play the governance function of capital allocation. To measure the efficiency of capital allocation of corporate cash asset pricing the study found that investors, accounting information disclosure of the company to give investors more robust market pricing, the company's cash holdings of assets is higher, and a significant positive correlation in the financial environment for the development of enterprises in developed areas is particularly significant. The study shows that the financial development with the improvement of the environment, investors pay more attention to sound the accounting information on the capital allocation efficiency of the basic guidance, the answer the question of "who need sound accounting information".

【作者单位】：浙江财经大学会计学院;
【基金】：国家自然科学基金资助项目(70972060) 浙江省教育科学规划项目(SCG232) 宁波市软科学项目(2013A10007)
【分类号】：F233;F832.51;F224
【正文快照】： 一、引言高质量的会计信息披露是构成投资者利益保护的重要信息环境,历来受到证券监管机构和实务界的重视。而会计稳健性或者谨慎性被认为是高质量会计信息的重要特征之一,稳健的会计信息披露策略原则上要求企业管理者在会计要素的确认、计量、记录和报告过程中保持适当的职业

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