摘要
利用2007年—2009年上市公司为样本,研究了机构投资者持股对会计稳健性的影响,而且考虑在不同的股市周期机构投资者持股的影响,即从动态角度考虑了机构投资者持股对会计信息质量的影响。研究发现,由于投资理念的改变,机构投资者通过与上市公司管理层、控股股东合谋,从而降低企业会计信息的稳健程度,这在股市处于上行周期时更加明显。论文研究成果有利于正确认识机构投资者持股对企业会计信息质量的影响,从会计信息质量方面对我国机构投资者进行了评价。
The data disclosed by the listed firms from 2007 to 2009 are used as samples to examine the dynamic effect of institutional investors on financial reporting conservatism in different stock market cycle.The research finds that institutional investors colluded with manager and controlling shareholder decrease the accounting conservatism of listed firms because of the changes of investment philosophy.The negative relationship of institutional investors and accounting conservatism is more significant as the stock market is flourishing.The conclusion is useful for understanding the impact of institutional investors on the quality of accounting information and evaluating the institutional investors from quality of accounting information.
出处
《石家庄经济学院学报》
2011年第4期8-13,共6页
Journal of Shijiazhuang University of Economics
基金
国家社会科学基金项目"金融危机后全球会计治理及其国际协调机制与我国对策研究"(10BJY020)的阶段性研究成果
关键词
机构投资者持股
股市周期
会计稳健性
institutional investors
stock market cycles
accounting conservatism