制度环境、会计稳健性与企业投资效率研究

On Institutional Environment,Accounting Conservatism and Enterprise Investment Efficiency

目前学术界在研究外部制度环境因素对会计稳健性与企业投资效率之间的互动关系时的考量并不充分.鉴于此,本文从金融市场发展水平、政府对市场的干预程度、法律环境与中介市场发育水平等方面入手,基于沪深2地2006-2013年间A股上市公司的样本数据做实证研究,对模型变量进行归纳统计,利用统计软件对基本假设实施总体回归与分组回归,以此论证会计稳健性、投资效率与制度环境之间的关系,丰富与完善理论体系,并力求对相关主题的实践活动有所帮助.

External factors like Institutional Environment are not fully considered in the studies of the rela- tionship between Conservatism Principle in Accounting and Enterprise Investment Efficiency. Based on empirical research, a thorough analysis and discussion of the relationship between Institutional Environ ment, Conservatism Principle in Accounting and Enterprise Investment Efficiency have been made in this paperby analyzing three aspects-extent of government＇s intervention in the market, intermediate market and legal environment, and development of financial market, with an eye to enrich related theories. The samples and data in the paper are from A-share listed companies in Shanghai and Shenzhen Stock Market from 2006 to 2013. The current research began with a general description of the major variables in the model with these samples and data, then test the above-mentioned assumption by taking a population re- gression analysis and sample regression analysis in each group, and thereafter draw a conclusion on the ba- sis of the regression analysis.