制度变迁、投资者保护与会计稳健性

Evolution of Institution,Legal Protection of Investors and Accounting Conservatism

文章试图揭示伴随资本市场制度变迁以及投资者保护力度的加大,一种重要的会计信息质量特征———会计稳健性历史演变的内在逻辑。研究发现,在2007年之前,随着我国资本市场制度变迁及投资者法律保护力度的加大,我国上市公司会计稳健性相应呈现出阶段递增的特征;但是随着新的企业会计准则在上市公司施行,自2007年开始会计稳健性不再显著,公允价值应用范围的扩大可能对会计稳健性起到了消极作用。因此,提出的政策建议是,在修订会计准则内容,提高会计信息相关性的同时,会计信息的其他质量特征也是需要关注的问题;提高会计信息质量不但有赖于会计制度改革,法律、公司治理等基础制度设施的建设也是不可缺少的。

This paper attempts to reveal the inherent logic of conservatism historical evolution,which is an important characteristic of accounting information quality with the capital market system evolution and the increasing of investor protection.This paper shows that： before 2007,with the changes in China＇s capital market system and the increasing of investors protection,accounting conservatism in China＇s listed companies shows the corresponding progressive features.But with the new accounting standards implemented in listed companies,accounting conservatism is no longer significant since 2007,and the expansion of the scope of application of fair value accounting may have played a negative role on conservatism.The policy recommendations are put forward： when the revision of accounting standards aims to improve accounting information relevance,the other qualitative characteristics of accounting information need to be paid attention.Improving the quality of accounting information not only relies on accounting system reform,but also relies on the building of law,corporate governance and other infrastructure system facilities.