成本粘性和盈余稳健性的衡量

The Measure of Cost Stickiness and Earnings Conservatism

盈余稳健性的衡量主要是基于Basu(1997)模型的盈余对市场收益的反应不对称的程度,而同时成本粘性产生的成本与销售收入的不对称性同样会导致利润与销售收入的不对称,成本粘性是否会混淆盈余稳健性的度量?本文旨在将成本粘性对盈余稳健性的影响剔除,从而衡量更准确的盈余稳健性。我们控制销售收入的增减情况等成本粘性的相关因素,基于Basu(1997)模型重新对盈余稳健性进行估计。研究表明成本粘性因素的确会混淆盈余稳健性的估计结果,因而,控制成本粘性的相关变量,能增加盈余稳健性度量的准确性。进一步利用新修订的盈余稳健性的估计模型分析会计政策变更对盈余稳健性的影响,研究发现会计政策变更降低了对盈余稳健性的要求。

In recent year,earnings conservatism measure has been mainly based on Basu( 1997) earnings conservatism of estimation model,but asymmetric timeliness of costs to sales also can lead to asymmetric timeliness of earnings to sales,so whether cost stickiness can confuse earnings conservatism measure. The paper considers cost stickiness in Basu( 1997) model to get rid of effect of cost stickiness to asymmetric timeliness of earnings,and more accurately measures earnings conservatism. This paper controls the factors of cost stickiness to tests earnings conservatism. We find cost stickiness can confuse earnings conservatism measure,after control the effect of cost stickiness we can increase earnings conservatism measure accuracy. Using the new-revised earnings conservatism of estimation model,we test the effect of the accounting policy change in 2007 on earnings conservatism. We further find that the accounting policy change reduces the demand for earnings conservatism.