公司治理及会计稳健性——基于上市公司的实证研究.docVIP

PAGE 0 PAGE 1 公司治理与会计稳健性——基于上市公司的实证研究 陈旭东 黄登仕 （西南交通大学经济管理学院，四川 成都610031） 会计稳健性是财务报告的一个重要特征和惯例，它隐含着在确认和计量收入和资产时应保持谨慎，会计稳健性已成为会计盈余的重要质量特征之一。本文运用basu(1997)模型，将会计稳健性定义为会计报告对坏消息的确认比好消息更及时，探讨了有关公司治理的几个重要因素对会计稳健性的影响。研究发现：在影响会计稳健性的治理因素中，银行借款比例与会计稳健性正相关，国家股比例与会计稳健性负相关，在国家股比例低的分组，会计稳健性较高。发行有B股的企业，会计稳健性与只有A股的企业没有显著差异。研究表明，会计稳健性作为会计报告质量的一种量度，随着会计制度和准则的国际接轨和完善，证券市场监管的加强，取得了一定成效，但是会计准则和会计制度不能保证会计报告的质量，尚需改革国内相关的制度背景，如公司治理，法律实施环境等。 会计稳健性；公司治理；实证研究 作者简介：陈旭东（1967-），男，重庆人，西南交通大学经济管理学院博士研究生，研究方向：公司财务； 黄登仕（1961-），男，重庆忠县人，博导，西南交通大学经济管理学院副院长，研究方向：公司财务。 中图分类号：F276.6 文献标示码： A Corporate governance and accounting conservatism: evidence from Chinese listed company Conservatism is an important convention of financial reporting. It implies the exercise of caution in the recognition and measurement of income and assets. Conservatism is an important attribute of earnings quality. Based on basu (1997) model, we interpret conservatism as resulting in earnings reflecting ‘bad news’ more quickly than ‘good news’, and using firms’ stock returns to measure news. In the patterns of accounting conservatism in corporate governance context, we find that accounting conservatism increases along with the bank financings, meanwhile decreases along with the state ownership ratio, accounting conservatism is significant both of the group of lower and higher state ownership ratio. For companies issuing both A- and B- shares, the accounting conservatism is no significant difference with only A shares. Our results imply that accounting conservatism as one of measures of quality of accounting report, along with Chinese accounting standards largely conform to International Accounting Standards and government enforce the governance to stock market, accounting reforms achieve success in a certain extent. But financial reporting cannot be improved simply by governments mandating accounting standards. The most fruitful area for Chinese accounting reform lies not in simply adopting or imitating international accounti