会计盈余水平与会计稳健性——基于分量回归的探索分析

Contemporaneous Earnings and Accounting Conservatism: Based on Quantile Regression Approach

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与资产时应保持谨慎。为了进一步探索企业的盈余水平与会计稳健性的关系,采用分量回归的方法重新探讨Basu模型,加深对于盈余与市场收益之间不对称关系和会计稳健性的理解和认识。运用2001年～2003年中国上市公司的数据实证研究发现,会计稳健性并非独立于当期的盈余水平,盈余水平高的公司会增加对好消息的确认、降低对坏消息的确认,从而会计稳健性较低;盈余水平低的公司会增加对坏消息的确认、降低对好消息的确认,从而会计稳健性较高。对未来会计稳健性的研究应关注公司盈余水平的影响,对其进行相应的控制和处理。

Conservatism is an important convention of financial reporting. It implies the exercise of caution in the recognition and measurement of income and assets. To explore the relation of earnings level to accounting conservatism, the paper adopts quantile regression approach to re-examine Basu Model for the insight of returnearning asymmetric relation and accounting conservatism. Based on Chinese listed companies data of 2001 - 2003, the empirical results show that the degree of conservatism of accounting earnings are associated with the level of earnings. Specifically, firms with poor earnings will increase the level of accounting conservative. On the other hand, the level of conservative accounting is a decreasing function of earnings. The study implies that future research should control the earnings level effects.