过度会税差异与盈余质量的实证研究

发布时间：2018-05-13 09:35

本文选题：过度会税差异 + 盈余质量　；参考：《重庆大学》2014年硕士论文

【摘要】：作为会计信息的主要组成部分，盈余质量一直作为考核企业业绩的重要指标。较氋的会计盈余向外界传达企业正常经营的信号，有利于企业树立良好的形象，增强投资者的自信心。对于上市公司来说，如果盈余质量指标较差，则会影响上市公司发行股票等相关经济行为，甚至影响公司的生存发展。因此，为获得和保持良好的会计盈余指标，企业往往有意识的采用盈余管理手段。自20世纪90年代开始，西方财务理论界就已经致力于会税差异的研究。我国的会计准则和税收法规经过多次改革，财务报告披露的会计收益与纳税申报的应税所得逐渐分离。从国内外已公开发表的研究成果来看，会计准则与税法的适度分离导致会税差异存在一定的客观性和必然性。除了这种必然性和客观性，不排除公司人为的操纵，而正是这种人为的盈余操纵构成了会税差异存在的主观性因素。如何正确认识和界定会计收益和应税所得之间差异的客观性和主观性，成为财务理论界关注的问题之一。国内已有研究发现会税差异蕴含的会计信息能被投资者用来预测企业未来的盈余能力，但几乎没有研究成果将客观存在的会税差异与主观操纵的会税差异分开界定，并进行相关实证研究。有鉴于此，本文认为，对于前人的研究，到底是哪种类型的会税差异在预测会计盈余质量的作用上起主导作用，是总会税差异还是仅仅是主观操纵部分的会税差异？这些问题都有待本文的进一步研究和讨论。同时，已有文献对盈余质量的解释仅仅是从盈余持续性的角度，很少见到涉及会税差异与盈余质量二者关系深入、系统的研究。因此，本论文以此为选题，进行了以下研究：首先通过对我国上市公司会税差异影响因素的分析，找出影响上市公司持有会税差异的主要因素。在会税差异存在一定客观性与必然性的基础上，提出一般会税差异和过度会税差异的概念，其中过度会税差异即人为操纵会税差异；其次，构建相关模型对过度会税差异进行界定和衡量，并在此基础上研究公司持有过度会税差异对盈余质量的影响，提出并通过实证检验相关假设：影响盈余质量的不是总会税差异，而是过度会税差异；最后对公司持有过度会税差异的税收成本进行分析，检验公司持有过度会税差异是否理性。根据主要研究内容分为如下几部分：论文首先对会税差异的理论进行了系统梳理和综述，分别从制度因素、盈余管理和税收庇护三个角度对会税差异的产生原因进行了解释。同时结合现有国内外文献对会税差异研究中涉及盈余质量的相关研究成果进行了归纳总结。实证研究假设直接会影响计量模型的选取进而影响研究的结果，因此论文在第三章中首先根据盈余质量的特点从成长性、稳健性以及盈利性三个角度对盈余质量进行衡量，然后结合制度背景，参考过度投资模型构建评价过度会税差异的计量模型，在主观的人为操纵才是导致过度会税差异的主要原因的大前提下，，提出本文的主要假设：影响公司盈余质量的会税差异是过度会税差异，而非一般意义上的总会税差异。对于会税差异和盈余质量两者关系的研究，第四章在主要假设的基础上从不同角度的影响提出三个不同假设，采用多变量回归的计量手段对此进行逐一检验，结果发现过度会税差异对盈余增长、盈余稳健性以及长期绩效都有负面的影响，符合过度会税差异影响公司盈余质量的假设。研究所得到的结论对于提高我国上市公司盈余质量信息含量具有理论意义和实践价值。既然得出公司持有过度会税差异会影响公司盈余质量的结论，这与公司对于高质量的盈余信息的期望的初衷是背道而驰的。接着第五章探讨公司持有过度会税差异的背后机制，通过“收入”与“成本”的类比论证，在理性人假设的基础上构建收入成本模型并进行多元回归，得到公司持有过度会税差异是出于税收成本的原因，由此证明公司持有过度会税差异是理性行为：过度会税差异虽然影响了盈余质量，但同时减少了税收成本。本文为规范上市公司内部盈余管理，协助会计准则制定者和证券市场监管者评估盈余管理的普遍影响和财务报告的真实性提供经验证据。
[Abstract]:As the main part of accounting information , the quality of earnings has been an important indicator for assessing the performance of the enterprise . The accounting surplus of the listed company is beneficial to the enterprises to establish a good image and strengthen the self - confidence of the investors . For the listed companies , if the surplus quality index is poor , it will affect the listed company ' s stock and other related economic behaviors , and even affect the survival and development of the company . Therefore , in order to obtain and maintain good accounting earnings index , enterprises tend to consciously adopt surplus management means .

Since 1990 ' s , the western financial theory has been devoted to the research of tax difference . The accounting income of our country ' s accounting standards and tax laws has been gradually separated from the tax returns .

How to correctly understand and define the objectivity and subjectivity of the difference between accounting income and taxable income has become one of the problems of financial theory .

Therefore , this paper makes the following research on this thesis : Firstly , through the analysis of the influence factors of the tax difference of listed companies in China , the paper finds out the main factors that affect the tax difference of listed companies .
Secondly , build the correlation model to define and measure over - tax differences , and on the basis of this , we study the influence of excessive tax on earnings quality , and put forward and adopt empirical test - related assumptions : the influence of earnings quality is not the general tax difference , but the excessive tax difference ;
Finally , it analyzes the tax cost of the company ' s excessive tax difference , and checks whether the excessive tax difference is rational . According to the main research contents , it is divided into the following parts :

Firstly , the paper systematically combs and summarizes the theory of the tax difference , explains the causes of the tax difference from three angles of institutional factor , surplus management and tax shelter , and summarizes the related research results concerning the surplus quality in the research of the tax difference between the domestic and foreign literatures .

In the third chapter , based on the characteristics of surplus quality , the author puts forward the main assumption that the tax difference which affects the earnings quality of the company is the excessive tax difference , not the general tax difference in the general sense .

On the basis of the main assumptions , the fourth chapter puts forward three different hypotheses on the basis of the main assumptions . The results show that the excessive tax difference has a negative impact on earnings growth , earnings robustness and long - term performance , and it is consistent with the assumption that excessive tax difference affects the earnings quality of the company . The conclusions obtained by the Institute are of theoretical significance and practical value to improve the information content of earnings quality of listed companies in China .

It is contrary to the company ' s expectation of high - quality surplus information , and then the fifth chapter discusses the underlying mechanism of the excessive tax difference , and then , through the analogy between " income " and " cost " , it proves that the company ' s excessive tax difference is rational behavior : the excessive tax difference affects earnings quality , but also reduces the tax cost . In order to regulate the internal earnings management of listed companies , this paper will help the accounting standards maker and the securities market regulator to evaluate the general effect of earnings management and the authenticity of financial reporting .

【学位授予单位】：重庆大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F275;F276.6;F812.42

【参考文献】