【摘要】：盈余持續(xù)性是盈余質(zhì)量最重要的特征，在很大程度上關(guān)系著一個企業(yè)的風(fēng)險和價值。會計-稅收差異指按照會計準(zhǔn)則和稅法兩套不同的系統(tǒng)核算企業(yè)收益造成的差額。本文試圖從會計-稅收差異的角度評價盈余的持續(xù)性，再進(jìn)一步研究會計-稅收差異對盈余的市場反應(yīng)的影響。文章在理論分析會計-稅收差異對盈余持續(xù)性的可能影響的基礎(chǔ)上，以2009-2011年的上市公司為樣本進(jìn)行實證研究。得出以下結(jié)論：（1）具有大額會計-稅收差異的公司的盈余持續(xù)性，低于具有小額會計-稅收差異的公司的盈余持續(xù)性。這說明會計-稅收差異的確會影響盈余持續(xù)性。（2）在控制了應(yīng)計盈余絕對值的情況下，具有大額會計-稅收差異的公司的盈余持續(xù)性，低于具有小額會計-稅收差異的公司的盈余持續(xù)性。這說明會計-稅收差異為盈余的持續(xù)性提供了應(yīng)計盈余絕對值之外的增量信息。此外，本文研究了會計-稅收差異對盈余市場反應(yīng)（以盈余反應(yīng)系數(shù)衡量）的影響，，但是結(jié)論只在0.1的水平上顯著。因此，本文的結(jié)論不能充分支持，會計-稅收差異能影響盈余的市場反應(yīng)。 本文的可能的創(chuàng)新點在于：（1）鑒于之前的研究結(jié)論顯示應(yīng)計盈余的絕對值和盈余持續(xù)性是正相關(guān)的，研究了會計-稅收差異是否為盈余的持續(xù)性提供了應(yīng)計盈余的絕對值之外的增量信息。（2）研究了會計-稅收差異對盈余市場反應(yīng)的影響。
[Abstract]:Earnings persistence is the most important feature of earnings quality, which to a great extent relates to the risk and value of an enterprise. Accounting-tax difference refers to the difference caused by enterprise income according to two different systems of accounting standards and tax laws. This paper attempts to evaluate the persistence of earnings from the perspective of accounting-tax differences and to further study the impact of accounting-tax differences on the market response to earnings. Based on the theoretical analysis of the possible impact of accounting-tax differences on earnings sustainability, this paper takes the listed companies from 2009-2011 as a sample to conduct an empirical study. The conclusions are as follows: (1) the earnings persistence of companies with large accounting-tax differences is lower than that of companies with small accounting-tax differences. This shows that accounting-tax differences do affect earnings sustainability. (2) when the absolute value of accrual earnings is controlled, the earnings sustainability of companies with large accounting-tax differences, Earnings persistence is lower than that of companies with small accounting-tax differences. This indicates that accounting-tax differences provide incremental information beyond the absolute value of accrual earnings for the persistence of earnings. In addition, this paper studies the effect of accounting-tax differences on earnings market response (measured by earnings response coefficient), but the conclusion is only significant at 0.1 level. Therefore, the conclusion of this paper can not be fully supported, accounting-tax differences can affect the market response of earnings. The possible innovations of this paper are as follows: (1) since the previous research results show that the absolute value of the accrual surplus is positively correlated with the earnings persistence, This paper studies whether accounting-tax differences provide incremental information beyond the absolute value of accrual earnings for the persistence of earnings. (2) the influence of accounting-tax differences on earnings market response is studied.
【學(xué)位授予單位】：廣東財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F812.42;F275;F276.6

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