基于合并报表与母公司报表的财务危机预警效果比较研究

发布时间：2018-06-24 00:49

本文选题：经营主导型 + 投资主导型　；参考：《会计研究》2017年06期

【摘要】：本文选择了2009年至2014年的ST企业,及因欠款未还被提起诉讼、因债务重组低价出售资产、资不抵债和因虚构利润被违规处理的企业作为财务危机样本,运用Logistic回归建立财务危机预警模型,实证对比了合并报表与母公司报表的财务危机预警效果差异。研究结论显示,合并报表的总体预警效果略优于母公司报表;但当母公司采用经营主导型战略时,母公司报表数据的财务预警效果优于合并报表;当母公司采用投资主导型战略时,随着合并报表包含的增量信息增多,其财务危机预警效果较明显的优于母公司报表。论文进一步拓展了合并报表与母公司报表信息有用性的比较研究,丰富了债权人视角下财务危机预警有效性的研究。
[Abstract]:This paper selects St enterprises from 2009 to 2014, and those who have not been sued for outstanding debts, sold assets at a low price because of debt restructuring, insolvent and illegally disposed of because of fictitious profits, as a sample of financial crisis. Using Logistic regression to establish the financial crisis warning model, this paper empirically compares the difference of the financial crisis warning effect between the consolidated statement and the parent company report. The research results show that the overall early-warning effect of consolidated statement is slightly better than that of parent company's report, but when the parent company adopts the management dominant strategy, the financial early-warning effect of the parent company's report data is better than that of the consolidated report. When the parent company adopts the investment-oriented strategy, with the increase of incremental information contained in the consolidated statement, its financial crisis warning effect is obviously better than the parent company report. This paper further expands the comparative study of the information usefulness of consolidated statements and parent company reports, and enriches the research on the effectiveness of financial crisis early warning from the perspective of creditors.
【作者单位】：对外经济贸易大学国际商学院;
【基金】：北京市社会科学基金研究基地项目(14JDJGB022)的资助
【分类号】：F275

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