公司治理对管理者过度自信与会计稳健性关系的影响研究

发布时间：2018-07-03 16:22

本文选题：管理者过度自信 + 非条件会计稳健性　；参考：《浙江大学》2014年硕士论文

【摘要】：管理者过度自信指的是管理者高估自身的决策能力从而高估公司未来业绩而低估未来风险。公司管理层对于公司未来前景的估计对于公司的经营决策制定十分重要。过度自信的管理者由于自身的心理偏差会影响到公司的许多方面,会计稳健性便是其一。会计稳健性包括非条件会计稳健性和条件会计稳健性两种。处于不同公司治理环境的公司,过度自信的管理者对于会计稳健性的影响程度是不同的。因此,研究该领域中三者之间的作用机制能够帮助我们更好地制定相关政策,更好地服务利益相关者。本文通过理论方法和实证方法考察管理者过度自信对于会计稳健性的影响,以及不同公司治理水平对于二者的影响关系。首先,本文在回顾国内外相关研究的基础上,介绍了管理者过度自信的定义、成因,以及对于公司各种政策的影响。还介绍了会计稳健性的定义、分类及产生原因。其次,基于理论分析,本文提出了紧密围绕主旨的五大假设,并选取我国沪深两市2009-2012年的上市公司作为样本,进行线性回归检验。最后结果发现：(1)管理者过度自信非条件会计稳健性不存在显著负相关关系；与条件会计稳健性之间存在显著的负相关关系；(2)股权集中度高的公司,即控股大股东持股比例越高的公司,管理者过度自信与条件会计稳健性之间的负相关关系越强,然而与非条件会计稳健性却不存在这种显著的结论；(3)机构投资者持股比例高的公司,管理者过度自信与两种会计稳健性之间的负相关关系会有所抑制,但效果均不明显；(4)国有控股的公司,管理者过度自信对于条件会计稳健性的损害程度也会加强,而非条件会计稳健性的结果并不显著；(5)管理者过度自信对于条件会计稳健性的负面影响并没有因内部独立董事比例的增加而有所改善。
[Abstract]:Manager overconfidence refers to managers overestimating their ability to make decisions, thus overestimating their future performance and underestimating future risks. The estimation of the company's future prospects by the management is very important to the company's business decision making. Overconfident managers can affect many aspects of the company because of their own psychological bias, accounting conservatism is one of them. Accounting conservatism includes non-conditional accounting conservatism and conditional accounting conservatism. In different corporate governance environments, overconfident managers have different impacts on accounting conservatism. Therefore, the study of the mechanism between the three in this field can help us to better formulate relevant policies and better serve stakeholders. This paper investigates the influence of manager overconfidence on accounting conservatism and the relationship between different levels of corporate governance and accounting conservatism through theoretical and empirical methods. First of all, this paper introduces the definition of manager overconfidence, its causes, and the influence on various policies of the company on the basis of reviewing relevant studies at home and abroad. It also introduces the definition, classification and causes of accounting conservatism. Secondly, based on the theoretical analysis, this paper puts forward five hypotheses closely surrounding the theme, and selects the listed companies in Shanghai and Shenzhen stock markets from 2009 to 2012 as samples to carry out the linear regression test. The results show that: (1) there is no significant negative correlation between managers' overconfidence and non-conditional accounting conservatism; there is a significant negative correlation with conditional accounting conservatism; (2) companies with high equity concentration, That is, the higher the proportion of controlling shareholders, the stronger the negative correlation between manager overconfidence and conditional accounting conservatism, but there is no such significant conclusion with non-conditional accounting conservatism. (3) the negative correlation between the overconfidence of managers and the two kinds of accounting conservatism will be restrained, but the effect is not obvious. Managers' overconfidence will also strengthen the degree of damage to conditional accounting conservatism, but the results of non-conditional accounting conservatism are not significant; (5) the negative effect of manager overconfidence on conditional accounting conservatism has not been improved by the increase of the proportion of internal independent directors.
【学位授予单位】：浙江大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F272.9;F233

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