本文選題：年報(bào) + 非財(cái)務(wù)信息披露��； 參考：《中國海洋大學(xué)》2014年碩士論文

【摘要】：本文選取了60家中國海外上市公司（H股）的英文年報(bào)作為樣本，從年報(bào)印象管理的角度對公司的非財(cái)務(wù)信息披露進(jìn)行了實(shí)證研究。公司管理層在年報(bào)中的印象管理通常有兩種方式：在語言形式上操縱可讀性和在語言內(nèi)容上進(jìn)行自利性歸因。 對于樣本年報(bào)的可讀性，作者分別計(jì)算了樣本總體的平均Flesch可讀性分值和平均Fog可讀性分值，兩個(gè)可讀性數(shù)值都表明我國海外上市公司（H股）的英文年報(bào)在總體上處于“難以閱讀”或“非常難以閱讀”的范疇，，會(huì)對大多數(shù)的利益相關(guān)者產(chǎn)生閱讀障礙，這表明我國海外上市公司非財(cái)務(wù)信息披露的質(zhì)量不高，信息溝通的有效性亟待提高。作者將樣本年報(bào)按照基本每股收益的年變化率平均分為兩組，分別對Flesch可讀性數(shù)值和Fog可讀性數(shù)值進(jìn)行了配對樣本的T檢驗(yàn)，檢驗(yàn)結(jié)果表明業(yè)績優(yōu)秀的公司與業(yè)績不佳的公司，其年報(bào)的可讀性不存在顯著性的差異，本研究并未發(fā)現(xiàn)中國海外上市公司（H股）的管理層有通過操縱年報(bào)可讀性進(jìn)行印象管理的跡象。同時(shí)，作者選取了可讀性相差懸殊的兩份公司年報(bào)進(jìn)行了可讀性的案例分析，結(jié)果表明可讀性不佳的年報(bào)其平均每句包含的單詞較多、復(fù)雜詞匯在文中的比例較高、文章層次混亂且缺乏邏輯性。 對于樣本年報(bào)的自利性歸因情況，作者選取了同一個(gè)行業(yè)內(nèi)業(yè)績相差較大的兩家公司，截取其年報(bào)中關(guān)于業(yè)績分析的內(nèi)容進(jìn)行案例分析。從年報(bào)語言的內(nèi)容上來看，管理層有意識(shí)或無意識(shí)進(jìn)行自利性歸因的傾向十分明顯。管理者在業(yè)績不佳時(shí)更多地將原因歸結(jié)為外部環(huán)境的惡劣，而在業(yè)績良好時(shí)卻更傾向于把原因歸結(jié)為自己優(yōu)秀的管理水平和不懈努力之上。 綜上，我國海外上市公司（H股）英文年報(bào)的總體可讀性不高，非財(cái)務(wù)信息披露的質(zhì)量仍然有待提高。同時(shí)，本研究未發(fā)現(xiàn)海外上市公司管理有通過操縱可讀性來進(jìn)行印象管理的跡象，但是通過設(shè)計(jì)語言內(nèi)容來進(jìn)行自利性歸因的印象管理行為較為普遍。
[Abstract]:This paper selects the English annual report of 60 Chinese overseas listed companies (H shares) as a sample and makes an empirical study on the disclosure of non-financial information from the perspective of annual report impression management.There are usually two ways to manage the impression of management in the annual report: manipulating readability in language form and attributing self-interest in language content.For the readability of the sample annual report, the average Flesch readability score and the average Fog readability score of the sample population are calculated, respectively.Both readability figures show that the English annual reports of our overseas listed companies (H shares) are generally in the category of "hard to read" or "very difficult to read," creating dyslexia for most stakeholders.This indicates that the quality of non-financial information disclosure of overseas listed companies is not high, and the effectiveness of information communication needs to be improved.The sample annual report was divided into two groups according to the average annual change rate of basic earnings per share. The T test of Flesch readability and Fog readability were carried out respectively. The results showed that the companies with excellent performance and those with poor performance were tested.There is no significant difference in the readability of the annual report. This study does not find that the management of the overseas listed companies (H shares) in China has any evidence of impression management by manipulating the readability of the annual report.At the same time, the author selected two company annual reports with different readability to carry on the case analysis of readability. The results show that the poor readability annual report contains more words per sentence on average, and the proportion of complex words in the text is higher.The article is chaotic and lacks logic.For the self-interest attribution of the sample annual report, the author selects two companies with different performance in the same industry, and intercepts the content of the performance analysis in the annual report for case study.From the content of annual report language, the tendency of conscious or unconscious self-interest attribution is obvious.Managers tend to attribute the reasons to the bad external environment when their performance is poor, but they tend to attribute the reasons to their excellent management level and unremitting efforts when their performance is good.Generally speaking, the English annual report of overseas listed companies (H shares) in China is not high in readability, and the quality of non-financial information disclosure still needs to be improved.At the same time, this study does not find that overseas listed companies have any signs of impression management by manipulating readability, but the impression management behavior of self-interest attribution through the design of language content is more common.
【學(xué)位授予單位】：中國海洋大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F279.2;F831.51;F275

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