权益保护影响会计盈余信息质量吗——基于中国资本市场的经验证据

Does Equity Protection Influence the Quality of Accounting Earnings Information——The Empirical Evidence Based on Chinese Capital Market

构建了一个衡量会计盈余信息质量的新模型,利用中国上市公司的相关财务数据,检验了权益保护与会计盈余信息质量之间的内在替代机制。研究结果表明,在中国转轨经济的特殊制度背景下,处于权益保护较弱地区的上市公司有动机和动力向外界提供较高质量的会计盈余信息,以弥补权益保护较弱所引致的负面效果,从而有助于上市公司资源的合理配置,确保资本市场的健康运行和良性发展。

This paper builds a new model about the quality of accounting earnings information, using the relevant financial data of Chinese listed companies, from all perspective to examine the internal alternative mechanisms between equity protection and the quality of accounting earnings information. The research results show that under the special institutional background of China＇ s economic transition, the listed companies which lie in the area of weaker equity have incentives and motivation to provide higher quality of accounting earning information for outside world and compensate negative effects caused by weaker equity protection, which can help the listed company＇ s rational allocation of resources and ensure capital market healthy operation and healthy development.