我国上市公司盈余质量对市场风险的影响及定价分析-the influence of earnings quality of listed companies in china on market risk and pricing analysis.docxVIP

market liquidity as proxy variable of liquidity risk, and chooses earnings precision, accruals quality and earnings smoothness as proxies for information quality, examines the relationship between information quality and liquidity risk, based on the sample of A-share listed companies in Shanghai and Shenzhen Stock Exchanges. The result shows that higher information quality is associated with lower liquidity risk and the negative association between information quality and liquidity risk is stronger in times of large shocks to market liquidity.Fourth, through building the earnings quality facto