公司股权特征对其资产减值准备计提政策的影响研究——以制造业上市公司为例

Research on the Impact of Corporate Equity Characteristics on Its Assets Depreciation Provisioning Policy——Taking listed companies in manufacturing industry as an example

股权特征是公司治理和控制权配置的基础,会计系统是公司治理机制中的重要组成部分,公司股权特征会对其会计政策选择产生重要影响,因此文章选择资产减值准备计提政策为代表对两者之间关系进行探讨。选取2007—2017年A股制造业上市公司为样本,从公司股权集中度、股权制衡度、高管持股、机构投资者持股以及实际控制人五个维度考察了股权特征对资产减值计提政策的影响。研究结果发现,大股东持股比例与资产减值计提之间的关系呈N型;大股东之间制衡程度越高,资产减值的计提比例越高,中小股东对大股东制衡程度与资产减值计提同样呈正相关;高管持股与资产减值计提呈负相关;机构投资者持股比例对资产减值计提比例具有正向影响关系;当实际控制人为国企时,公司倾向于计提较高比例的资产减值准备。这些结论为研究企业资产减值准备计提等会计政策的影响因素提供了经验证据。

Equity characteristics are the basis of corporate governance and control allocation.Accounting system is an important part of corporate governance mechanism.The company’s equity characteristics will have an important impact on its accounting policy choice.Therefore,the article chooses asset impairment provision accrual policy as representative.The relationship between each of them is explored.The sample of A-share manufacturing listed companies from 2007 to 2017 was selected as a sample,and the equity characteristics were depreciated from the five dimensions of the company’s equity concentration,equity balance,executive stock holdings,institutional investors’holdings and actual controllers,which impact of the policy.The research results show that the relationship between the shareholding ratio of major shareholders and the asset impairment provision is N-type;the higher the balance between major shareholders,the higher the proportion of asset impairment,the degree of balance between minority shareholders and major shareholders.The asset impairment provision is also positively correlated;the executive shareholding is negatively correlated with the asset impairment provision;the institutional investor’s shareholding ratio has a positive impact on the asset impairment provision;when the actual controller is a state-owned enterprise,the company It tends to accrue a higher proportion of asset impairment provisions.These conclusions provide empirical evidence for investigating the factors affecting accounting policies such as asset impairment provision.