管理层盈余预测偏差与公司投资效率:文献综述

Prediction Bias of Management Layer Surplus and Corporate Investment Efficiency:A Literature Review

近年来,国内外理论界和实务界越来越重视管理层盈余预测偏差与公司投资效率之间的影响关系。管理层作为企业投资决策和盈余预测信息披露的共同行为主体,其预测偏差会影响企业对外的盈余预测和对内投资项目的收益估计。基于此,文章回顾和梳理了国内外文献,总结和归纳了管理层盈余预测、管理层盈余预测偏差、管理层盈余预测偏差与企业投资效率之间的关系,并展望了该领域的进一步研究方向。

In recent years,theorists and practitioners at home and abroad have paid more and more attention to the relationship between the prediction bias of management layer surplus and corporate investment efficiency.As the common behavior subject of enterprise investment decision-making and disclosure of predicted surplus information,prediction bias of the management layer will affect the external surplus prediction and the income estimation of internal investment projects.Based on this,this paper reviews and combs the literature at home and abroad,summarizes the surplus prediction of the management layer,prediction bias of the management layer surplus,as well as the relationship between the prediction bias of the management layer surplus and the enterprise investment efficiency,and looks forward to the further research direction in this field.