盈余管理动机、信息质量与政府监管

Incentives of Earnings Management,Information Quality and Government Regulation

长期资产减值和公允价值计量属性是新旧会计准则衔接期争论较大的两个话题,本文首先研究了上市公司是否会在2006年新旧准则衔接期大量转回减值准备,以及准则颁布前后计提和转回减值准备的动机是否存在差异;其次比较了新旧准则下会计信息质量差异;最后研究了公允价值计价是否会提高会计信息的定价能力。研究表明,新准则中禁止长期资产减值准备转回的做法有利于提高会计信息的相关性和稳健性,并且由于财政部、证监会在准则衔接期政策实施得当,抑制了上市公司在新准则实施前突击转回已计提的长期资产减值准备的动机,从而未出现上市公司"赶集"转回长期资产减值准备的现象。同时,我们的研究还发现,按新准则调整后的股东权益比旧准则有较高的价值相关性,公允价值计量能够提供增量的价值相关信息。我们的研究整体表明,新旧准则转换过程是平稳、有序的,会计信息质量也得到了提升。

Long-lived assets impairments and fair value measurement are two controversy topics during the transit period of new accounting standards.Motivated by the debates,this study investigates the following questions:first,we examine whether there are large amount of reversal for asset impairments,and compare the incentives differences for write-offs of long-lived assets pre-and post-promulgation of new accounting standards;second,we compare the information quality under new and old accounting standards;finally we explore whether the valuation role of accounting information can be improved by introducing fair value measurement.The results indicate that,prohibition on impairment reversal may increase the value-relevance and conservatism of accounting information and the reversal of impairments are not used as means of earnings manipulation in the transit period because of the effective regulation rules implemented by government.Our results also show that equity reported under new accounting standards are more value-relevant than that under old standards,and fair value can provide incremental value-relevant information.Overall,our results suggest the transition of new standards is stable and in good order.