农业上市公司会计信息披露质量与公司绩效相关性研究

发布时间：2018-04-26 06:27

本文选题：会计信息披露质量 + 公司绩效　；参考：《浙江农林大学》2017年硕士论文

【摘要】：长期以来,上市公司会计信息披露质量问题一直备受证券监管部门、社会公众投资者及其他信息使用者的关注。会计信息披露质量的高低会对证券市场的有效程度、保护投资者的利益等产生重大的影响。近年来,农业上市公司会计信息披露不规范,信息披露违规事件的不断出现,扰乱了证券市场的正常秩序,也挫伤了投资者的积极性。在这种情况下,如何通过一种市场机制和手段,合理引导农业上市会计公司信息披露,增加证券市场信息供给的有效性,提高会计信息披露质量,从而提高公司绩效,成为中国资本市场持续发展的必由之路。本研究从及时性、准确性、完整性和合法性四个方面对农业上市公司的会计信息披露质量进行衡量,选择每股收益、净资产收益率、存货周转率及托宾Q值来综合衡量公司绩效。由于农业上市公司的绩效受自然灾害影响显著,且生物资产作为农业上市公司最重要的资产,本研究将生物资产作为重要变量来分析两者之间的相关关系。本研究先对农业上市公司会计信息披露质量及公司绩效的现状及存在的问题进行分析,在有效市场假说理论、委托代理理论、利益相关者理论和信号传递理论的基础上选取2011-2015年深市和沪市两市的37家农业上市公司作为样本数据,对样本数据进行描述性统计分析,Pearson相关性分析,选用会计信息质量评级、每股收益、存货周转率、托宾Q值及净资产收益率作为变量,税收优惠率、公司规模和资产负债率作为控制变量,披露的生物资产占总资产的比例作为重要变量,建立回归模型,采用线性回归分析的方法来探究农业上市公司会计信息披露质量与公司绩效之间的相互作用,最后对回归分析结果进行稳健性检验。得出以下结论:(1)农业上市公司会计信息披露质量与公司绩效之间存在互动的相关关系,即会计信息披露质量越高,公司绩效越高;公司绩效越高,会计信息披露质量也越高;(2)生物资产占公司总资产比例越高的公司,会计信息披露质量越高,公司绩效越高。基于本研究得出的结论,结合我国会计信息披露的现状提出政策建议:一是完善上市公司会计信息披露体系;二是建立合理统一的会计信息披露质量评价体系;三是正确认识会计信息披露质量与公司绩效的关系:四是建立完善的信息披露监管机制。
[Abstract]:For a long time, the quality of accounting information disclosure of listed companies has been concerned by securities regulators, public investors and other information users. The quality of accounting information disclosure will have a significant impact on the effective degree of the securities market and the protection of the interests of investors. In recent years, the agricultural listed companies' accounting information disclosure is not standardized, the information disclosure violations continue to appear, disturbed the normal order of the securities market, but also dampened the enthusiasm of investors. In this case, how to reasonably guide the information disclosure of agricultural listed accounting companies through a market mechanism and means, increase the effectiveness of information supply in the securities market, improve the quality of accounting information disclosure, and thus improve the company performance, Become the only way to the sustainable development of China's capital market. This study measures the accounting information disclosure quality of agricultural listed companies from the aspects of timeliness, accuracy, completeness and legitimacy, and selects earnings per share, net asset return, Inventory turnover and Tobin Q are a comprehensive measure of company performance. As the performance of agricultural listed companies is significantly affected by natural disasters, and biological assets as the most important assets of agricultural listed companies, biological assets as an important variable to analyze the relationship between the two. This study first analyzes the current situation and existing problems of the quality of accounting information disclosure and corporate performance of agricultural listed companies, in the efficient market hypothesis theory, principal-agent theory, Based on stakeholder theory and signal transmission theory, 37 agricultural listed companies in Shenzhen and Shanghai stock markets from 2011 to 2015 were selected as sample data, and Pearson correlation analysis of sample data was carried out, and accounting information quality rating was selected. Earnings per share, inventory turnover ratio, Tobin Q value and net asset return rate as variables, tax preference rate, company size and asset-liability ratio as control variables, the proportion of disclosed biological assets to total assets as important variables, The regression model was established and the interaction between the quality of accounting information disclosure and the performance of agricultural listed companies was explored by linear regression analysis. Finally, the results of regression analysis were tested for robustness. The following conclusions are drawn: 1) there is an interactive relationship between the quality of accounting information disclosure and corporate performance of agricultural listed companies, that is, the higher the quality of accounting information disclosure, the higher the corporate performance, and the higher the corporate performance. The higher the quality of accounting information disclosure is, the higher the company's performance is with the higher the proportion of biological assets to the total assets of the company, the higher the quality of accounting information disclosure. Based on the conclusions of this study, this paper puts forward some policy suggestions based on the current situation of accounting information disclosure in China: first, to perfect the accounting information disclosure system of listed companies; second, to establish a reasonable and unified evaluation system for the quality of accounting information disclosure. The third is to correctly understand the relationship between the quality of accounting information disclosure and the performance of the company, and the fourth is to establish a perfect supervision mechanism of information disclosure.
【学位授予单位】：浙江农林大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F324;F302.6

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