【摘要】 以2007至2019年中国A股上市公司为研究对象，运用因子分析法构造了反映盈余质量的综合指数，并对综合盈余质量的价值相关性进行实证检验。结果发现，综合盈余质量对股票价格有显著的正向影响。盈余质量具有增量信息含量。提高盈余质量，有助于提升股票价格或公司价值。投资者在投资决策时应充分考虑盈余质量因素，政府部门、企业经营管理者都应努力提高盈余质量。更多还原

【Abstract】 Taking China’s listed companies of A share market from 2007 to 2019 as the research target and using factor analysis to construct a comprehensive index reflecting the quality of earnings, the present paper analyzes the value correlation of comprehensive earnings quality through an empirical analysis. It is found that the quality of comprehensive earnings has a significantly positive impact on stock prices. Earnings quality has the incremental information content. Improving earnings quality is helpfu to increase stock prices or company value. Therefore, the investors should fully consider earnings quality factors when making investment decisions. Government departments and business managers should strive to improve earnings quality, and lay a solid foundation for achieving the goal of high-quality development of the national economy.更多还原