摘要
本文以我国2001至2006年期间上市公司为研究对象,延续FWY和RSST的方法,考察信息可靠性和企业成长性对应计利润持续性较差现象的解释力。我们采用经营资产利润率与经营资产现金获取率的均方差计量信息可靠性。研究发现,企业成长性越好,信息失真值越高;会计扭曲越严重,应计利润的持续性越差;信息可靠性越高(低),会计盈余持续性越高(低);应计利润和现金收益整体对下一期的会计盈余预测能力越强(弱),会计盈余持续性检验模型的解释力越高(低);应计利润较现金收益的持续性差,且这种现象不因信息可靠性高或低而改变。
This study investigates the relationship of information reliability,corporate growth and earnings persistence of the Chinese listed companies in the period of 2001—2006 with the methods of RWY(2003)and RSST(2005,2006).We adopt the mean square deviation of RNOA(measured as operating income on lagged operating assets)and RCFO(measured as net cash flow from operation on lagged operating assets)as the proxy of information reliability.We find that better corporate growth and more distorted accounting leads to less earning persistence,while better information reliability leads to more earnings persistence.With better information reliability,both of accrual and cash flow component of earning have a stronger association with the profitability of the next year,as well as the explanation of the test model of earnings persistence.Our evidence also indicates that the accrual component of earnings is less persistent than the cash flow component of earnings,unrelated to information reliability.
出处
《会计研究》
CSSCI
北大核心
2008年第3期43-50,共8页
Accounting Research
基金
"西南财经大学创新人才培养基金资助"
国家社会科学基金项目"管理层代理动机与国有企业收益分配研究"(07CJY013)的阶段性研究成果
