會計(jì)穩(wěn)健性對企業(yè)債務(wù)成本與投資效率的影響.pdf

1、T h e In f lu en ce of A ccou n tin g C on serv atismon th e D eb t C ost an d E ff ici en cy ofIn v estm en t in C om p an ies A t T h e p ersp ecti v e of p rod u ctm ark et co m p etitio nA D issertatio n S u b

2、 m itte d toN anji ng N orm alU n i versi t yF or t he A cadem i c D egree of M aster of M anagem entB YG u L iJ u a nS up erv ised b yP ro f.Z h a o Z iQ ia n gS ch o o lo f co m p u ter sc ien ce an d tech n o l

3、o g yN anjin g N orm alU n iv ersityA p ril2 0 12A b stra c tA b str a c tC onservat ism is one of t he m osti m portantcharacteri sti cs of hi gh qual i t yaccounti ng i nform ati on .C onservati ve accounti ng i nform

4、 ati on can coordi nate o f t hecont ractfor t he parti es to a conf li ctof i nt erest ， and can effecti vel y reduce t he ag encycostof t he cont ract i ng parti es,t hus i tcont ri but es t o prot ectt he benef i

5、t s of i nvest orsand i m prove t he val ue of ent er pri ses.Si nce conservati sm i s cri ti cali n account i ngm easurem entand fi nanci alreporti ng,i tw i l lcert ai nl y i nf luence t he econ om i cdeci si ons of

6、 users of fi nanci alstat em ents and t hus change debtcostand effi ci en cy ofi nvest m ent i n a com pany.Forei gn schol ars have found t hatproductm arketcom pet i ti on rel at es t o conservat i sm ,w hi l e t he

7、re i s al m ostno dom esti c research i n t hi sarea.T hi s t hesi s ai m s to research the econom i c consequences of accou nti ngconservat i sm i n C hi nese A -share l i st ed m anufact uri ng com pani es att

8、he perspective ofcom pet i ti on,al so proposes som e support s on fi r m s' choosi ng accounti ng pol i ci es andgover nm ent s' est abl i shi ng regul at i ons as w el las i m provi ng supervi si on.U si

9、ng t he ext ensi on of B asu m odel ,t hi s paper anal yzes t he sam pl e of C h i neseA - share l i st ed m anufact uri ng fi rm s duri ng t he 2008-20 10 peri ods t hrough st atist i calw ay and hypot hesi s t ests.I

10、 tresearches t he i nfl uences of productm arketcom peti ti onon conservati sm .O n this basi s,usi ng C _ score as al ternati ve vari abl e of conservati sm ,w e t estw het her com peti ti on af fectt he rol e of co

11、nservati sm i n debtcostand t heeff ici ency of i nvest m enti n a com pany.A l so som e i m provem ents have been putf orw ar d on i m provi ng accounti ng conservati sm and t he fi nanci ali nform ati on qual

12、 i t y.T he em pi ri calconcl usi ons can be arri ved as fol l ow ed:(l)P roductm arketcom pet i ti on cont ri but es t o a fi rm ' s dem and for account i ng conservat i sm .(2)Fi rm s w i t h m ore conservati ve ac

13、counti ng obt ai n funds at a l ow er cost， and w henconfront ed w i t h m ore i nt ense com pet i t i on,conservati ve decrease debtcostm oregreat l y.( 3)C onservat i sm can i nhi bi tt he excessi ve i nvest m entof e

14、nt er pri ses andi m pr ove t he i nsuf fi ci enti nvest m ent ,t her eby i m proves t he eff ici ency of i nvest m ent.A nd t he m ore severel y t he com peti t i on i s,m ore ef fect i ve conservati sm w i l