【摘要】：以2004至2014年滬深兩市A股上市公司為樣本,研究分析師跟進對上市公司避稅程度的影響。研究發(fā)現,分析師是否跟進、跟進人數的數量與上市公司的避稅行為及避稅程度具有顯著正相關性。當明星分析師對上市公司進行跟進時,上市公司更趨向于選擇避稅,避稅程度更加顯著。當分析師不再跟進時,上市公司的避稅程度顯著降低。研究結果表明,分析師跟進并簽發(fā)研究報告會給上市公司的報告盈余設定較高的目標,從而誘使上市公司通過采取避稅行為來達到分析師對公司盈余預測的目標值。這一研究結果揭示了分析師跟進的不利后果,有利于豐富分析師跟進的經濟后果性。
[Abstract]:Based on a sample of A-shares listed in Shanghai and Shenzhen from 2004 to 2014, analysts followed up on the impact of tax avoidance on listed companies. The study found that there was a significant positive correlation between the number of respondents and the tax avoidance behavior and degree of tax avoidance of listed companies. When star analysts follow up on listed companies, listed companies tend to choose tax avoidance, the degree of tax avoidance is more significant. When analysts no longer follow up, listed companies significantly lower tax avoidance. The results show that analysts follow up and issue research reports that set higher targets for listed companies to report earnings, thus inducing listed companies to achieve the target of analysts' earnings forecasts by taking tax avoidance actions. The findings shed light on the adverse consequences of analysts' follow-up, helping to enrich the economic consequences of analysts' follow-up.
【作者單位】： 江西財經大學會計發(fā)展研究中心/會計學院;江西財經大學現代經濟管理學院;
【基金】：國家自然科學基金項目“分析師額外簽發(fā)現金流預測報告的動機和經濟后果——基于信號傳遞的視角”(71462012);國家自然科學基金項目“媒體地域屬性、媒體報道傾向與上市公司投融資行為”(71462011);國家自然科學基金項目“證券分析師托市行為、投資者反應與上市公司融資策略”(71262005)
【分類號】：F275;F832.51
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本文編號：2207224