管理层讨论与分析:中国的研究与发现

Review of Management's Discussion & Analysis:Literatures and Findings in China

在会计经受信任之殇的后安然时代,为提高会计舞弊和欺诈的有效识别,改善信息不确定性环境,管理层讨论与分析(MD&A)信息披露机制被寄予厚望,我国亦是如此。为此,本文在监管政策"给力"的背景下,借助一个分析性框架,通过对国内相关研究文献的梳理,发现在我国新兴资本市场上,MD&A研究疑问远高于确论,研究内容与方法尚处于初期阶段,理论供给不足,滞后于政策层面,结合中国制度背景对MD&A信息有用性的深层次实证分析,将构成未来研究的主要内容之一。

In the post-Enron era when the trust of accounting is damaged, in order to improve the capability of identifying accounting fraud and better information uncertainty environment, the information disclosure mechanism of Management＇s Discussion ＆ Ana/ysis （MD＆A） is hoped to be a remedy, so is in China. Therefore, this paper, in the background of strong regulation, provides an analysis framework and reviews the related literatures in China. The results suggest that questions are more than conclusions of MD＆A studies, and research contents and methods are still in its infancy stage. Theory supplies are insuffi- cient and lag behind the regulation enforcement. The deep-level empirical research of MD＆A＇s information usefulness in the background of Chinese emerging market will be the main area in the future research.