管理者过度自信与会计稳健性研究--来自中国上市公司的经验证据

Managers' Overconfidence and the Accounting Conservatism:Empirical Evidence from the Listed Companies in China

本文利用2009-2011年A股上市公司数据,实证检验过度自信对会计非条件稳健性和条件稳健性的影响,研究发现由于会计管制的存在,过度自信没有损害会计的非条件稳健性,在高负债融资、低股利分配率等决策因素的影响下,管理者过度自信加强了会计的条件稳健性增强。本文的研究从行为经济学角度丰富了会计稳健性研究的相关文献。

Choosing the A-share listed companies in China from 2009-2011 as a study sample, we empirically test the influence of overconfidence on the accounting conditional and non-conditional conservatism. We find that the overconfidence doesn＇ t damage the accounting non-conditional conservatism because of the accounting regulation. However, the managers＇ overconfi- dence is affected by the high debt financing and low dividend payout ratio, which enhances the accounting conditional conser- vatism. The study enriches the literature on accounting conservatism from the perspective of economics.