政治联系提高抑或降低了会计盈余质量?——基于应计质量和盈余反应系数的检验

【作者】 宋玉； 唐婉虹； 燕紫；

【机构】 南京大学商学院； 南京理工大学经济管理学院；

【摘要】 本文将企业董事长或者总经理曾经或者现在在政府部门任职,或者担任人大代表政协委员界定为该企业具有政治联系,以2006-2008年沪深两市A股民营企业作为研究样本,通过应计质量和盈余反应系数两个角度对有无政治联系企业的盈余质量进行实证考察,以此研究政治联系对盈余质量的影响。研究结果发现:有政治联系的民营企业应计质量优于没有政治联系的民营企业,而且政治联系对于抑制盈余管理的作用主要体现在"向下"盈余的抑制,在"向上"盈余管理中起到的作用较小;从市场角度来看,政治联系能够提高盈余在回报中的反映程度,增大了盈余反应系数。更多还原

【Abstract】 Taking the private enterprises of the A share of Shanghai and Shenzhen in 2006-2008 as the sample of research,this paper studies the impacts of the political connections on earnings quality on the basis of the regression analysis on the earnings quality of the enterprises with or without political connections from the two aspects including earnings management and earnings response coefficients.This paper shows that the accruals quality of the private enterprises with political connections is better than those without political connections.The inhibition of political connections on the earnings management is mainly reflected in the inhibition of "downward" surplus,and its role in the "upward" earnings management is not that significant.From the market reaction perspective,the effect of political connections on earnings response coefficients is significant,which strengthens the information content of earnings in return.更多还原