This paper examines the relationship between accounting information quality and capital investment choice from the perspective of accounting information's governance function.Measuring capital investment choice as...This paper examines the relationship between accounting information quality and capital investment choice from the perspective of accounting information's governance function.Measuring capital investment choice as the correlation of growth of operating income between company and industry,this paper investigates whether and to what extent companies focus on their core business.The results show that the higher the quality of publicly listed firms' accounting information,the stronger that correlation,particularly when the corporate governance of the listed company is poor.The findings imply that accounting information quality can thus optimize the capital investment choice,which complements and strengthens the functioning of corporate governance.Hence,regulators should pay more attention to the market's power to supervise the behavior of listed firms,improve the governance functions of accounting information and increase the efficiency of capital allocation.展开更多
What determines the effectiveness of government entrepreneurship policies on the regional development of entrepreneurial activities in China？ Using panel data analysis, this study develops a comprehensive framework t...What determines the effectiveness of government entrepreneurship policies on the regional development of entrepreneurial activities in China？ Using panel data analysis, this study develops a comprehensive framework that examines the effects of various factors, including government efficiency and government support for business, finance and technology, on facilitating the creation of new ventures. Based on provincial data collected between 2009 and 2014, we find that the level of infrastructure development, government incubators and venture capital-guided funds have positive and significant effects on entrepreneurial activities. The findings of our study suggest that local government efficiency is a fundamental precondition for entrepreneurship policies to effectively boost the regional economy.展开更多
基金supported by Zhongcai-Pengyuan Local Finance Investment and Funding Research InstituteProgram for Innovation Research in Central University of Finance and Economics+1 种基金the National Natural Science Foundation of China(Project No.71102124)Beijing Municipal Commission of Education "Pilot Reform of Accounting Discipline Clustering"
文摘This paper examines the relationship between accounting information quality and capital investment choice from the perspective of accounting information's governance function.Measuring capital investment choice as the correlation of growth of operating income between company and industry,this paper investigates whether and to what extent companies focus on their core business.The results show that the higher the quality of publicly listed firms' accounting information,the stronger that correlation,particularly when the corporate governance of the listed company is poor.The findings imply that accounting information quality can thus optimize the capital investment choice,which complements and strengthens the functioning of corporate governance.Hence,regulators should pay more attention to the market's power to supervise the behavior of listed firms,improve the governance functions of accounting information and increase the efficiency of capital allocation.
文摘What determines the effectiveness of government entrepreneurship policies on the regional development of entrepreneurial activities in China？ Using panel data analysis, this study develops a comprehensive framework that examines the effects of various factors, including government efficiency and government support for business, finance and technology, on facilitating the creation of new ventures. Based on provincial data collected between 2009 and 2014, we find that the level of infrastructure development, government incubators and venture capital-guided funds have positive and significant effects on entrepreneurial activities. The findings of our study suggest that local government efficiency is a fundamental precondition for entrepreneurship policies to effectively boost the regional economy.
