会计稳健性、公益性捐赠与企业可持续发展——来自中国A股市场的经验证据

发布时间：2018-01-18 02:01

本文关键词：会计稳健性、公益性捐赠与企业可持续发展——来自中国A股市场的经验证据　出处：《现代财经(天津财经大学学报)》2017年08期 　论文类型：期刊论文

【摘要】：选取2008-2015年沪深A股9 450个公司年度数据作为样本,对会计稳健性、公益性捐赠与企业可持续发展三者之间的关系进行了研究。结果表明:(1)公益性捐赠能够促进企业的可持续发展;(2)在"柠檬市场"环境下,会计稳健性水平高的企业内在价值被低估,会计稳健性弱化了公益性捐赠与企业可持续发展二者之间的正相关关系;考虑到国有企业市场化程度更低,进一步区分产权性质,进行分组检验结果表明,上述弱化效应在国有企业中表现更为显著,而非国有企业这种弱化关系表现并不显著。这表明现阶段公益性捐赠已经发挥了促进企业可持续发展的"正效应",但是会计稳健性的信息含量还未被资本市场参与各方主体充分解读。
[Abstract]:The annual data of 9,450 companies of Shanghai and Shenzhen A-shares from 2008 to 2015 are selected as samples to analyze accounting conservatism. The relationship between public welfare donation and enterprise sustainable development is studied. The result shows that public welfare donation can promote the sustainable development of enterprise. 2) under the environment of "lemon market", the internal value of enterprises with high level of accounting conservatism is underestimated, and accounting conservatism weakens the positive correlation between public welfare donation and sustainable development of enterprises; Taking into account the lower degree of marketization of state-owned enterprises, further distinguish the nature of property rights, the results of grouping test show that the weakening effect is more significant in state-owned enterprises. However, the weakening relationship of non-state-owned enterprises is not remarkable, which indicates that public welfare donation has played a positive effect in promoting the sustainable development of enterprises. However, the information content of accounting conservatism has not been fully interpreted by the parties involved in the capital market.
【作者单位】：安徽工业大学商学院;
【基金】：国家社会科学基金项目(13BGL049;14BJY015)
【分类号】：C913.7;F275;F832.51
【正文快照】： 一、引言2016年初“魏则西”事件爆发后,百度公司被置于风口浪尖,作为全球知名的互联网公司,百度一味追求搜索排名广告收入,忽视了社会责任的履行。“魏则西”事件后,百度面临有史以来最大规模的用户信用危机以及法律惩处,客户与广告收入大幅度减少,公司股票市值严重缩水。同

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