环境不确定性、会计稳健性与公司研发创新——来自战略性新兴产业民营A股上市公司的经验证据

Environmental Uncertainty, Accounting Conservatism and Corporate R&D Innovation: Evidence from Private A-share Listed Companies in Strategic Emerging Industries

以战略性新兴产业民营A股上市公司的2014—2018年度财务报告数据为研究对象,探讨环境不确定性、会计稳健性对公司研发创新的影响。研究结果表明,会计稳健性对公司研发创新具有正向促进作用,环境不确定性对公司研发创新具有负向影响,会计稳健性是对环境不确定性的一种谨慎反映,可以抑制环境不确定性对公司研发创新的负面影响。通过区分环境不确定程度,进一步发现当环境高度不确定时,会计稳健性对公司研发创新的正面促进作用更加显著,当环境低度不确定时,会计稳健性对公司研发创新的作用并不显著。

Based on the financial report data of private A-share listed companies in strategic emerging industries from 2014 to 2018, this paper discusses the impact of environmental uncertainty and accounting conservatism on corporate R&D innovation. The results show that accounting conservatism has a positive role in promoting corporate R&D innovation, while environmental uncertainty has a negative impact on corporate R&D innovation.Accounting conservatism is a cautious reflection of environmental uncertainty, which can inhibit the negative impact of environmental uncertainty on corporate R&D innovation. By distinguishing the degree of environmental uncertainty,it is further found that when the environment is highly uncertain, accounting conservatism has a more significant positive effect on R&D innovation, while the environment is low uncertainty, the effect of accounting conservatism on corporate R&D innovation is not significant.