企业金融化与会计稳健性

Corporate Financialization and Accounting Conservatism

以我国沪深A股上市公司2014-2018年的数据为样本,采用Wattes模型度量会计稳健性,研究了企业金融化行为对会计稳健性的影响,研究发现,企业金融化程度增加会显著降低会计稳健性,但对非国有企业会计稳健性的降低作用要弱于国有企业。基于企业金融化对会计稳健性影响路径的检验发现,企业通过金融化活动进行盈余调节从而降低会计稳健性。本文揭示了金融化活动对会计稳健性的影响及作用机理,提供了企业金融化行为影响企业会计信息稳健性的直接证据。

This study examines the effect of corporate financialization on accounting conservatism.And find that increase corporate financialization will significantly reduce accounting conservatism.And the reducing effect on non-state-owned companies is weaker than on state-owned companies.Then the study examines the influence path of corporate financialization on accounting conservatism,and find that corporates use financial activities to implement earnings management and reduce accounting conservatism.Our results suggest the impact and mechanism of financialization on accounting conservatism,and provide evidence that corporate financialization will reduce information conservatism.