内部控制信息披露、市场评价与盈余信息含量

Internal Control Information Disclosure,Market Assessment and Informativeness of Earnings

本文基于投资者视角,以2009至2011年深市A股上市公司为样本,实证考察了内部控制信息披露的市场反应,验证了引起市场反应的具体路径。内部控制信息披露可以间接反映企业内部控制的管理水平和投入水平,反映企业的财务状况和经营情况。我们通过衡量内部控制信息披露质量,发现内部控制信息披露表现越好,市场评价越高;良好的内部控制信息披露能够增进投资者对会计信息的信任,提高会计信息的决策有用性,内部控制信息披露表现越好,会计盈余的信息含量越高。

The article verifies the effectiveness of the internal control information disclosure market reaction and the reaction path with the Shenzhen a-share listed companies from 21309 to 2011 as samples based on the perspective of investors. Internal control information disclosure can indirectly reflect not only the management level and input level of enterprise internal con- trol, but also the enterprise6 financial situation and business performance. By analyzing, we found that the better perform- ance of interval control information disclosure, the higher the market evaluatiorL Good internal control information disclosure can increase investors＇trust, improve decision usefulness of accounting and enhance the information of earnings.