【作者】 刘斌；

【导师】 刘星；

【作者基本信息】 重庆大学 ， 技术经济及管理， 2004， 博士

【摘要】 自愿性会计政策变更是实证会计理论研究的核心内容之一。继公司财务学的有效市场假说和资本财产定价模型产生以来,国外会计学界围绕上述问题进行了卓有成效的大量研究。但是这些研究在很大程度上忽略了转型经济国家的固有特征,因而不能达到解释和预测转型经济国家会计实务的目的。基于上述原因,论文运用理论分析和实证检验方法探讨我国转型经济时期上市公司自愿性会计政策变更的盈余管理、契约动因、市场反应和审计鉴证等一系列理论和实务问题,进而为我国上市公司的证券市场监管提供理论支持和政策建议。论文的研究工作从层次上分为三个部分,相应的研究内容和结论如下:论文第一部分包括第2章和第3章。其中,第2章在介绍和评析选择性不实财务披露假说、企业契约理论、经济后果学说以及无效应假说和机械性假说的理论纷争基础上,运用规范分析方法探讨了上述理论学说(或假说)与会计信息及自愿性会计政策变更的相互关系。第3章运用规范分析方法探讨了与自愿性会计政策变更有关的概念框架,分析了我国上市公司自愿性会计政策变更的相关制度背景,构建了后续实证各章的实证研究框架,并提出了坚持一致性原则的三点理由和更为广泛的“广义会计政策一致论”观点和倾向机械性假说的基本理由。论文第二部分包括第4章、第5章、第6章和第7章。该部分是整个论文的核心,其中,第4章通过研究样本和控制样本的一一配对,并运用均值检验、Wilcoxon符号等级检验以及Logistic回归方法检验了我国上市公司收益平滑、巨额冲销和政策诱增式盈余管理的产生动因。结果发现:我国上市公司在总体上存在利用自愿性会计政策变更的收益平滑、巨额冲销和政策诱增式盈余管理行为,其收益平滑存在利润递增式特征且影响因素包括与之正相关的企业规模、收费限制和报酬契约;巨额冲销行为的影响因素包括与之负相关的企业规模和与之正相关的董事变更比例;政策诱增式盈余管理行为的影响因素除政策性诱因外还包括与之负相关的政治成本、债务契约和与之正相关的报酬契约及会计师事务所规模。第5章首先在研究样本和控制样本的一一配对基础上,应用单变量检验和Logistic回归方法检验了自愿性会计政策变更与否的主要影响因素;然后单独就研究样本进行了自愿性会计政策变更程度的多元线性回归分析;最后通过实证检验结果及问题讨论:在自愿性会计政策变更与否的符号检验层面证实了报酬契约假设,在自愿性会计政策变更的程度检验层面证实了政治成本假设、债务契约假设和股利限制假设并同时在上述两个层面证实了工会势力假设。第6章运用均值检验、线<WP=6>性回归和事件史研究方法,并结合利用自愿性会计政策变更所进行的收益平滑、巨额冲销以及政策诱增式盈余管理特征,检验了自愿性会计政策变更的信息噪音以及长期和短期的市场反应,结果发现:我国上市公司自愿性会计政策变更的短期市场反应和长期市场反应均为正;利用自愿性会计政策变更的巨额冲销和政策诱增式盈余管理行为均存在明显的信息噪音;我国投资者并不像无效应假说所假定的那样能“透过数字看出本质”,与之对应的机械性假说得以证实。第7章在一一配对的基础上运用均值检验和Logistic回归方法检验了我国注册会计师因上市公司自愿性会计政策变更而出具非标审计意见的主要考虑因素,结果发现:利润影响程度、有无盈余管理动机、审计风险程度和审计客户规模是会计师事务所出具非标审计意见的主要考虑因素,其中前三个变量与被出具非标审计意见正相关,后一个变量与被出具非标审计意见负相关。论文第三部分包括第8章,其研究内容主要是在总结论文第二部分实证研究结论的启示基础上,从完善我国会计制度、审计法规以及证券市场监管入手,提出规范自愿性会计政策变更,特别是恶意会计政策变更的政策建议。这些政策建议包括:1)绕过利润表和持续披露自愿性会计政策变更影响金额的会计制度变革设想;2)完善我国独立审计准则、强化注册会计师风险意识和加强审计市场监管的审计法规建议;3)用持续经营利润替代净利润指标、规定资产负债率的合理范围以及进一步推进监管政策的市场化改革等证券监管制度变革。更多还原

【Abstract】 Voluntary accounting policy change is among the core content of the research of positive accounting theory. Ever since the emergence of effective market hypothesis (EPH) and capital asset pricing model (CAPM), lots of fruitful studies have been made by overseas accounting scholars. However, to a large extent, these studies neglected the inherent characteristics of countries in economic transformation. Therefore, the aim to explain and predict the accounting practice of countries in economic transformation could not be reached.Based on the above mentioned reasons, a series of theoretic and practical problems of earnings management, contract motivation, market response and auditing authentication were discussed in this paper by methods of theoretic analysis and empirical testing. Then, theoretic support and policy suggestions were provided for the supervision of stock market of Chinese listed companies.There are three parts in this paper. Corresponding contents and conclusions are as follows:First part of this paper includes chapter 2 and chapter 3. Based on the introduction & review of the theoretic controversy among selective inauthentic financial disclosure hypothesis, enterprise contract theory, economic consequence theory, non-effect hypothesis and mechanicalness hypothesis, the relationship among above mentioned theories(or theoretic hypothesis), accounting information and voluntary accounting policy change were discussed in chapter 2. In chapter 3, the conceptual framework concerning voluntary accounting policy change was discussed by normative approach. Pertinent institutional background of voluntary accounting policy change of Chinese listed companies was analyzed. The framework of the following chapters which were mainly concerned about positive analysis was constructed. Three reasons why the consistency principle must be insisted on and the more comprehensive viewpoint of "Generalized Accounting Policy Consistency Theory" as well as basic reasons why this paper was apt to mechanicalness hypothesis were put forward.Second part of this paper includes chapter 4, 5, 6 and 7 and it is the core of this paper. In chapter 4, through one by one matching between research samples and controlled samples, the emergence cause of Chinese listed companies’ behaviors of income smoothing, huge amount of write off and earnings management induced by <WP=8>policy-based factors were testified by methods of mean value test, Wilcoxon signed-rank test and Logistic regression. The result shows that there exist behaviors of income smoothing, huge amount of write off and earnings management induced by policy-based factors in Chinese listed companies as a whole. The behavior of income smoothing has profit incremental characteristic and its influential factors include enterprise’s scale, fee charging limitation and pay contract which correlate positively with it. The influential factors of huge amount write off include enterprise’s scale which correlates negatively with it and the changing proportion of directors which correlates positively with it. Besides the policy-based inducing factor, the influential factors of earnings management induced by policy-based factors also include political cost and debt contract which correlate negatively with it as well as pay contract and the scale of accounting firms which correlate positively with it.In chapter 5, firstly, based on one by one matching between research samples and controlled samples, the primary influential factors of voluntary accounting policy change were testified by methods of single variable test and Logistic regression. Then, the degree of voluntary accounting policy change of research samples was analyzed by multiple linear regression method. Finally, through result of empirical test and problem discussion, it shows that the pay contract hypothesis is validated in the signed test level of voluntary accounting policy change, hypotheses of political cost, debt contract and dividend limitation are validated in the degree test level of voluntary accounting policy cha更多还原