上市公司会计信息质量影响投资效率研究
发布时间：2018-08-30 20:01
【摘要】：随着我国市场经济建设的不断完善,上市公司赖以生存的资本市场正以积极向上的发展趋势不断前进着。会计信息质量是上市公司长期稳定发展的基石,同时也是公司在资本市场竞争中立于不败之地的关键因素。近年来学者多从公司治理、股权结构以及高管持股比例等角度研究上市公司非效率投资产生的原因和治理途径,较少有学者将会计信息质量与上市公司的投资效率相结合研究。因此,分析会计信息质量对投资效率的影响程度,优化上市公司的投资行为,解决上市公司非效率投资问题具有重要的现实意义。 论文对会计信息质量与投资效率的相关研究成果和文献进行了回顾和总结,并对会计信息质量、投资效率以及两者之间的相互关系进行阐述。在分析委托代理理论、信息不对称理论、利益相关者理论、经济后果论和代理成本理论的基础上,结合上市公司会计信息质量影响投资效率现状和存在的问题对成因进行了分析。针对我国特殊的政治经济环境,从宏观和微观两个角度提出了会计信息质量影响投资效率的因素。论文以2010年--2012年338家上市公司财务报表相关数据为研究样本,通过构建会计信息质量影响投资效率的实证模型,对会计信息质量与投资效率的相关性进行检验。结合理论研究成果和实证检验结果,提出明确政府在投资活动中的定位、不断完善相关法律法规、加强审计机关审计监督职能、提高管理人员决断能力、调度公司自有资金高效使用、实施对投资项目持续监督与反馈等若干切实可行的建议,意在完善公司治理,保证上市公司的会计信息质量,提高上市公司的投资效率,促进我国经济持续健康发展。
[Abstract]:With the continuous improvement of market economy construction, the capital market on which listed companies depend for survival is advancing with a positive development trend. The quality of accounting information is the cornerstone of the long-term stable development of listed companies, and also the key factor for the companies to remain invincible in the capital market competition. In recent years, many scholars have studied the causes and governance approaches of inefficient investment of listed companies from the perspectives of corporate governance, equity structure and the proportion of senior executives holding shares, and few scholars have combined the quality of accounting information with the investment efficiency of listed companies. Therefore, it is of great practical significance to analyze the influence of accounting information quality on investment efficiency, to optimize the investment behavior of listed companies and to solve the non-efficient investment problems of listed companies. This paper reviews and summarizes the related research results and literature on the quality of accounting information and investment efficiency, and expounds the quality of accounting information, investment efficiency and the relationship between them. Based on the analysis of principal-agent theory, information asymmetry theory, stakeholder theory, economic consequence theory and agency cost theory, Combined with the listed companies accounting information quality impact on investment efficiency and existing problems to analyze the causes. In view of the special political and economic environment of our country, this paper puts forward the factors that affect the investment efficiency from the macro and micro aspects of the quality of accounting information. Based on the relevant data of 338 listed companies from 2010 to 2012, this paper tests the correlation between accounting information quality and investment efficiency by constructing an empirical model of accounting information quality affecting investment efficiency. Based on the theoretical research results and empirical test results, this paper puts forward a clear positioning of the government in investment activities, constantly improving the relevant laws and regulations, strengthening audit supervision function of audit institutions, and improving the ability of management to make decisions. In order to improve corporate governance, ensure the quality of accounting information of listed companies and improve the investment efficiency of listed companies, dispatching companies use their own funds efficiently and carry out some practical suggestions such as continuous supervision and feedback of investment projects. To promote sustained and healthy economic development in China.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F275;F276.6
本文编号：2214137
[Abstract]:With the continuous improvement of market economy construction, the capital market on which listed companies depend for survival is advancing with a positive development trend. The quality of accounting information is the cornerstone of the long-term stable development of listed companies, and also the key factor for the companies to remain invincible in the capital market competition. In recent years, many scholars have studied the causes and governance approaches of inefficient investment of listed companies from the perspectives of corporate governance, equity structure and the proportion of senior executives holding shares, and few scholars have combined the quality of accounting information with the investment efficiency of listed companies. Therefore, it is of great practical significance to analyze the influence of accounting information quality on investment efficiency, to optimize the investment behavior of listed companies and to solve the non-efficient investment problems of listed companies. This paper reviews and summarizes the related research results and literature on the quality of accounting information and investment efficiency, and expounds the quality of accounting information, investment efficiency and the relationship between them. Based on the analysis of principal-agent theory, information asymmetry theory, stakeholder theory, economic consequence theory and agency cost theory, Combined with the listed companies accounting information quality impact on investment efficiency and existing problems to analyze the causes. In view of the special political and economic environment of our country, this paper puts forward the factors that affect the investment efficiency from the macro and micro aspects of the quality of accounting information. Based on the relevant data of 338 listed companies from 2010 to 2012, this paper tests the correlation between accounting information quality and investment efficiency by constructing an empirical model of accounting information quality affecting investment efficiency. Based on the theoretical research results and empirical test results, this paper puts forward a clear positioning of the government in investment activities, constantly improving the relevant laws and regulations, strengthening audit supervision function of audit institutions, and improving the ability of management to make decisions. In order to improve corporate governance, ensure the quality of accounting information of listed companies and improve the investment efficiency of listed companies, dispatching companies use their own funds efficiently and carry out some practical suggestions such as continuous supervision and feedback of investment projects. To promote sustained and healthy economic development in China.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F275;F276.6
【共引文献】
相关期刊论文 前2条
1 张瑶;郭雪萌;;内控信息披露质量、披露方式与权益资本成本——基于缺陷信息披露的实证证据[J];经济问题;2015年04期
2 尚继公;;会计稳健性的经济后果研究述评[J];商场现代化;2015年04期
，本文编号：2214137
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