自愿性会计政策变更与公司治理※——来自深沪两市1998～2002的经验证据研究

Research on Relation of the Governance Characteristics and the VACs

本文通过对 1998～ 2 0 0 2年间发生了非正常自愿性会计政策变更的深沪上市公司的研究样本和控制样本的一一配对 ,运用单变量检验和多变量检验方法 ,在考虑契约动因影响因素的基础上 ,从公司治理层面 ,实证检验了非正常自愿性会计政策变更的公司治理特征。

This empirical study aimed at the governance characteristics of companies with Non-normal VACs during 1998-2002 in Shenzhen and Shanghai stock market. Based on the contracting incentives, it was done by the paired match of its research and control samples through a univariate test and multivariate test from a company governance approach. The research results proved that: (1) the debt to assets ratio has a positive correlation with policy-inducing Non-normal VACs, while the management compensation contract affected by business performance has a negative correlation with substantive write-offs Non-normal VACs; (2) Dominant state-owned shares and the percentage of directors from control shareholders is positively related with Non-normal VACs; (3) Modified audit opinion has some negative correlations with Non-normal VACs.