成本粘性对会计稳健性的影响——基于盈余反应非对称视角

Influence of cost stickiness on accounting conservatism

目前衡量会计稳健性最常见的方法是1997年Basu提出的盈余与股票回报模型,他将盈余反应非对称作为会计稳健性的测度。近年来,有学者提出成本粘性可以作为盈余反应不对称的另一种解释。本文选取我国2009—2015年的A股上市公司为样本,在Basu的盈余与股票回报模型基础上加入成本粘性变量,研究发现标准的盈余与股票回报模型得到的稳健性水平显著降高,通过分行业与分年份比较发现控制成本粘性前后得到的会计稳健差异性也有显著不同。

Though the most common method of measuring accounting conservatism is the model of earnings and stock returns put forward by Basu in 1997,some scholars argued that asymmetric behavior of costs could be an explanation for asymmetric timeliness.After selecting the 2009—2015 listed IPO companies as the samples,we conduct a study based on the earnings and stock returns model of Basu and additionally modify the model with cost stickiness as a missing variable.The results show that the standard models overestimate the level of accounting conservatism and the variation of conservatism also changes greatly after we branch off industries and years.