摘要
本文以2007—2018年沪深A股上市公司为样本,研究企业面临的系统性风险对会计稳健性的影响,以及治理环境(金融市场化程度、政府与市场关系、中介组织发育与法律得分)对二者之间关系的调节作用。研究发现,系统性风险与会计稳健性有显著的负相关关系,即企业面临的系统性风险越高,该企业的会计稳健性水平越低,并且上行系统性风险和下行系统性风险越高,企业的会计稳健性水平越低;治理环境能够缓解系统性风险对会计稳健性水平的负向影响。更换变量的度量方法以及考虑了内生性问题后,所得结论与主回归基本一致。本文为防范系统性风险,提高会计信息质量,完善外部治理环境,促进我国资本市场的长期、稳定、健康发展提供了新的治理思路。
This article takes the 2007—2018 Shanghai and Shenzhen A-share listed companies as the research object to study the impact of systemic risks faced by enterprises on the stability of accounting,as well as the governance environment(financial marketization,the relationship between government and the market,intermediary organization development and legal score).The regulatory effect on the relationship between the two.The study found that there is a significant negative correlation between systemic risk and accounting robustness,that is,the higher the systemic risk faced by an enterprise,the lower the level of accounting robustness of the enterprise,and the higher the systemic risk of upward and downward systemic risks.The lower the level of corporate accounting robustness;the governance environment can mitigate the negative impact of systemic risks on the level of accounting robustness.After changing the measurement methods of variables and considering endogenous issues,the conclusions are basically consistent with the text.This article provides new governance ideas to prevent systemic risks,improve the quality of accounting information,improve the external governance environment,and promote the healthy development of China's capital market.
作者
甄红线
于慧莹
秦君华
宣敏
Hongxian Zhen;Huiying Yu;Junhua Qin;Min Xuan
出处
《会计与控制评论》
2022年第2期43-69,共27页
Review of Accounting and Control
基金
国家社会科学基金重大项目“宏观经济增长与金融系统防风险动态平衡机制研究”(批准号19ZDA094)
国家社会科学基金后期资助项目“精准扶贫、绿色治理与中国经济高质量发展研究”(批准号21FJYB032)
国家自然科学基金项目“系统性风险对技术创新的影响:基于风险分层和交叉传染的视角”(批准号71971046)
国家自然科学基金面上项目“公司债券违约风险防范:基于公司债特殊条款和政府参与评级的视角”(批准号72172029)
辽宁省教育厅项目“营商环境优化、企业扶贫可持续性与乡村振兴——来自辽宁省的经验证据”(批准号LJKR0462)
关键词
系统性风险
会计稳健性
治理环境
调节作用
systemic risk
accounting conservatism
governance environment
moderating effect
