会计—税收差异、盈余持续性及市场反应
发布时间：2018-11-08 20:49
【摘要】：盈余持续性是盈余质量最重要的特征，在很大程度上关系着一个企业的风险和价值。会计-税收差异指按照会计准则和税法两套不同的系统核算企业收益造成的差额。本文试图从会计-税收差异的角度评价盈余的持续性，再进一步研究会计-税收差异对盈余的市场反应的影响。文章在理论分析会计-税收差异对盈余持续性的可能影响的基础上，以2009-2011年的上市公司为样本进行实证研究。得出以下结论：（1）具有大额会计-税收差异的公司的盈余持续性，低于具有小额会计-税收差异的公司的盈余持续性。这说明会计-税收差异的确会影响盈余持续性。（2）在控制了应计盈余绝对值的情况下，具有大额会计-税收差异的公司的盈余持续性，低于具有小额会计-税收差异的公司的盈余持续性。这说明会计-税收差异为盈余的持续性提供了应计盈余绝对值之外的增量信息。此外，本文研究了会计-税收差异对盈余市场反应（以盈余反应系数衡量）的影响，，但是结论只在0.1的水平上显著。因此，本文的结论不能充分支持，会计-税收差异能影响盈余的市场反应。 本文的可能的创新点在于：（1）鉴于之前的研究结论显示应计盈余的绝对值和盈余持续性是正相关的，研究了会计-税收差异是否为盈余的持续性提供了应计盈余的绝对值之外的增量信息。（2）研究了会计-税收差异对盈余市场反应的影响。
[Abstract]:Earnings persistence is the most important feature of earnings quality, which to a great extent relates to the risk and value of an enterprise. Accounting-tax difference refers to the difference caused by enterprise income according to two different systems of accounting standards and tax laws. This paper attempts to evaluate the persistence of earnings from the perspective of accounting-tax differences and to further study the impact of accounting-tax differences on the market response to earnings. Based on the theoretical analysis of the possible impact of accounting-tax differences on earnings sustainability, this paper takes the listed companies from 2009-2011 as a sample to conduct an empirical study. The conclusions are as follows: (1) the earnings persistence of companies with large accounting-tax differences is lower than that of companies with small accounting-tax differences. This shows that accounting-tax differences do affect earnings sustainability. (2) when the absolute value of accrual earnings is controlled, the earnings sustainability of companies with large accounting-tax differences, Earnings persistence is lower than that of companies with small accounting-tax differences. This indicates that accounting-tax differences provide incremental information beyond the absolute value of accrual earnings for the persistence of earnings. In addition, this paper studies the effect of accounting-tax differences on earnings market response (measured by earnings response coefficient), but the conclusion is only significant at 0.1 level. Therefore, the conclusion of this paper can not be fully supported, accounting-tax differences can affect the market response of earnings. The possible innovations of this paper are as follows: (1) since the previous research results show that the absolute value of the accrual surplus is positively correlated with the earnings persistence, This paper studies whether accounting-tax differences provide incremental information beyond the absolute value of accrual earnings for the persistence of earnings. (2) the influence of accounting-tax differences on earnings market response is studied.
【学位授予单位】：广东财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F812.42;F275;F276.6
本文编号：2319641
[Abstract]:Earnings persistence is the most important feature of earnings quality, which to a great extent relates to the risk and value of an enterprise. Accounting-tax difference refers to the difference caused by enterprise income according to two different systems of accounting standards and tax laws. This paper attempts to evaluate the persistence of earnings from the perspective of accounting-tax differences and to further study the impact of accounting-tax differences on the market response to earnings. Based on the theoretical analysis of the possible impact of accounting-tax differences on earnings sustainability, this paper takes the listed companies from 2009-2011 as a sample to conduct an empirical study. The conclusions are as follows: (1) the earnings persistence of companies with large accounting-tax differences is lower than that of companies with small accounting-tax differences. This shows that accounting-tax differences do affect earnings sustainability. (2) when the absolute value of accrual earnings is controlled, the earnings sustainability of companies with large accounting-tax differences, Earnings persistence is lower than that of companies with small accounting-tax differences. This indicates that accounting-tax differences provide incremental information beyond the absolute value of accrual earnings for the persistence of earnings. In addition, this paper studies the effect of accounting-tax differences on earnings market response (measured by earnings response coefficient), but the conclusion is only significant at 0.1 level. Therefore, the conclusion of this paper can not be fully supported, accounting-tax differences can affect the market response of earnings. The possible innovations of this paper are as follows: (1) since the previous research results show that the absolute value of the accrual surplus is positively correlated with the earnings persistence, This paper studies whether accounting-tax differences provide incremental information beyond the absolute value of accrual earnings for the persistence of earnings. (2) the influence of accounting-tax differences on earnings market response is studied.
【学位授予单位】：广东财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F812.42;F275;F276.6
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本文编号：2319641
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