政府补助影响因素及实施效果之实证研究

发布时间：2018-01-06 17:03

本文关键词：政府补助影响因素及实施效果之实证研究　出处：《上海交通大学》2014年硕士论文　论文类型：学位论文

【摘要】：细看近年来我国上市公司的非经常性损益明细,不难发现上市公司从地方政府处获得补助已经成为一种普遍现象。政府补助的形式多种多样,包括财政拨款、财政贴息以及税收返还等方式。政府补助作为地方政府参与企业发展、调控本地经济的一种重要工具,已经对资本市场产生了重要的影响。本文从会计学角度以中国A股上市公司为研究对象,对政府补助的影响因素及实施效果进行实证研究,为政府评价财政资金使用效果、投资者了解公司实际经营能力、监管部门完善信息披露要求提供经验数据和决策依据。本文在回顾了国内外有关政府补助的动机、影响因素以及实施效果的研究理论之后,选取新准则实施后的2007年至2013年上海及深圳股票交易所上市的公司为样本,首先从分年度、分行业、分地区三个角度对所有样本公司所获得的政府补助进行了描述性统计分析。其次,本文提出了影响上市公司获得政府补助的5个假设因素,包括:地方财政收入越多的地区给予当地上市公司的补助力度越大;制造业、采矿业及交通运输、仓储和邮政业这三个行业中的企业所取得的政府补助金额比其他行业更多;与政府政治关系越密切的上市公司越容易获得政府补助;经济贡献越大的上市公司所获得的政府补助越多;上市公司短期偿债能力越差,获取的政府补助越多。并且通过建立多元线性回归模型,对这5个影响因素进行检验,得出对上市公司取得政府补助有着显著影响的因素。接着,本文从盈余管理的角度,采用频率分布法对所有样本公司的净资产收益率和扣除政府补助后的修正净资产收益率进行了比较,实证检验政府补助对盈余管理的效果。最后,本文在总结实证研究结论的基础上,从制度完善、信息披露、加强审计及监管的角度提出了研究建议。
[Abstract]:Looking closely at the non-recurrent profit and loss of listed companies in China in recent years, it is not difficult to find that it has become a common phenomenon for listed companies to obtain subsidies from local governments. There are various forms of government subsidies, including financial allocations. Government subsidies are an important tool for local governments to participate in the development of enterprises and to regulate the local economy. From the perspective of accounting, this paper makes an empirical study on the influencing factors of government subsidy and the effect of the implementation of the government subsidy, taking Chinese A-share listed companies as the research object. For the government to evaluate the effectiveness of the use of financial funds, investors understand the actual business ability of the company. The regulatory authorities to improve information disclosure requirements to provide empirical data and decision-making basis. This article reviews the motivation of domestic and foreign government subsidies, influencing factors and implementation of the research theory. Selected from 2007 to 2013 after the implementation of the new standards listed companies in Shanghai and Shenzhen Stock Exchange as a sample, first from the year, by industry. This paper makes a descriptive statistical analysis of the government subsidies obtained by all sample companies from three regional perspectives. Secondly, this paper puts forward five hypothetical factors that affect the government subsidies of listed companies. Including: the greater the local financial revenue, the greater the subsidies to the local listed companies; Companies in manufacturing, mining and transportation, warehousing and postal services receive more government subsidies than other industries; The more closely related to government politics, the easier it is for listed companies to get government subsidies; The larger the economic contribution, the more government subsidies the listed companies get; The worse short-term solvency of listed companies, the more government subsidies. And through the establishment of multiple linear regression model, the five factors are tested. The factors that have a significant impact on the listed companies to obtain government subsidies. Then, this paper from the perspective of earnings management. Using the frequency distribution method to compare the net asset return rate of all sample companies and the revised net asset return rate after deducting the government subsidy, and empirically test the effect of government subsidy on earnings management. Finally. Based on the conclusion of empirical research, this paper puts forward some research suggestions from the aspects of system perfection, information disclosure, audit and supervision.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F275;F832.51;F812.45

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