本文選題：會計穩(wěn)健性　切入點：債務成本　出處：《東北師范大學》2013年碩士論文

【摘要】：會計穩(wěn)健性是會計理論和實踐中的一項基本原則，具有深厚的歷史背景，對許多國家的會計實務產(chǎn)生了深刻的影響。目前國際上針對會計穩(wěn)健性的研究主要包括四個方面：會計穩(wěn)健性存在原因分析、會計穩(wěn)健性的計量、會計穩(wěn)健性與公司治理和會計穩(wěn)健性的經(jīng)濟后果研究。我國關于會計穩(wěn)健性的研究也越來越多，范圍也越來越廣，但是對會計穩(wěn)健性經(jīng)濟后果的研究相對較少。因此，本文結合我國企業(yè)仍然以債務融資為主的現(xiàn)實，研究我國上市公司會計穩(wěn)健性與債務成本之間的關系。 由美國次貸危機引發(fā)的國際金融危機把會計問題提到了前所未有的高度，而會計穩(wěn)健性能及時確認和充分地披露相關的風險和損失。特別是對債務投資而言，會計穩(wěn)健性能有效地防范債務契約簽訂之后的道德風險，保護債權投資者的投資收益，同時，在契約簽訂之前，穩(wěn)健的會計信息也能防止債權人的逆向選擇。因此，會計穩(wěn)健性在保護投資者利益特別是債權投資者利益中發(fā)揮著重要的作用。那么，會計穩(wěn)健性是如何影響債務成本的呢？對于債權人來說，他們最關心的是企業(yè)的盈利能力和還本能力，，因此企業(yè)利潤與凈資產(chǎn)是債權人重點關注的會計指標。企業(yè)的會計穩(wěn)健程度將直接影響上述會計指標，采用相對謹慎的會計政策的公司，一定程度上能夠保證沒有高估利潤和資產(chǎn)，降低公司的違約風險，保證債權人貸款能夠安全收回。所以，會計穩(wěn)健性可以協(xié)調(diào)公司股東與債權人的利益沖突，保證契約有效執(zhí)行，并且能顯著降低信息不對稱條件下契約各方的道德風險和逆向選擇行為。 本文通過對會計穩(wěn)健性的相關概念進行回顧，對已有文獻進行梳理，探尋會計穩(wěn)健性與債務成本的理論基礎，選用滬深兩市A股2001-2011年上市公司作為研究樣本，對會計穩(wěn)健性與債務成本的相關關系進行了實證分析。文中采用財務費用與平均含息負債（短期借款+長期借款+一年到期長期借款+應付債券）的比率作為企業(yè)當年債務成本的替代變量，采用權益市值-賬面價值比和非經(jīng)營性應計項目兩種計算方法分別作為會計穩(wěn)健性的替代變量，并選用了資產(chǎn)負債率、企業(yè)規(guī)模、盈利能力、企業(yè)發(fā)展能力作為控制變量，利用回歸分析研究了會計穩(wěn)健性對債務成本的關系，研究結果表明：企業(yè)的會計穩(wěn)健性越強，其債務成本也越低。
[Abstract]:Accounting conservatism is a basic principle in accounting theory and practice. The current international research on accounting conservatism mainly includes four aspects: analysis of the cause of accounting conservatism, accounting conservatism measurement, accounting conservatism, accounting conservatism, accounting conservatism, accounting conservatism, accounting conservatism, accounting conservatism, accounting conservatism, accounting conservatism, accounting conservatism, accounting conservatism, The study on the economic consequences of accounting conservatism and corporate governance and accounting conservatism. The research on accounting conservatism in China is more and more extensive, but the research on the economic consequences of accounting conservatism is relatively few. This paper studies the relationship between accounting conservatism and debt cost of listed companies in China. The international financial crisis caused by the subprime mortgage crisis in the United States has brought the accounting problem to an unprecedented height, and the accounting conservatism has recognized and fully disclosed the related risks and losses in a timely manner, especially in the case of debt investment. The performance of accounting conservatism can effectively guard against the moral hazard after the debt contract is signed, and protect the investment income of the creditor. At the same time, before the contract is signed, prudent accounting information can also prevent the creditor from adverse selection. Accounting conservatism plays an important role in protecting the interests of investors, especially creditors. How does accounting conservatism affect the cost of debt? For creditors, they are most concerned about the profitability and the ability to repay capital of the enterprise. Therefore, the profits and net assets of the enterprise are the accounting indicators that creditors focus on. The degree of accounting conservatism of the enterprise will directly affect the above accounting indicators. Companies that adopt relatively prudent accounting policies can, to some extent, guarantee that profits and assets are not overestimated, that the risk of default is reduced, and that creditors' loans are safely recovered. Accounting conservatism can coordinate the conflict of interests between shareholders and creditors, ensure the effective implementation of contracts, and significantly reduce the moral hazard and adverse selection behavior of the parties to the contract under the condition of asymmetric information. This paper reviews the related concepts of accounting conservatism, combs the existing literature, explores the theoretical basis of accounting conservatism and debt cost, and selects A shares listed companies in Shanghai and Shenzhen stock markets from 2001 to 2011 as the research samples. The relationship between accounting conservatism and debt cost is empirically analyzed. The ratio of financial expenses to average interest-bearing liabilities (short-term loans, long-term loans, one year long term loans payable bonds) is used as an enterprise. Alternative variables to the cost of debt in the current year, The two calculation methods of equity market value-book value ratio and non-profit accrual project are used as the substitute variables of accounting conservatism, and the asset-liability ratio, enterprise scale, profitability, and enterprise development ability are selected as control variables, respectively. The relationship between accounting conservatism and debt cost is studied by regression analysis. The results show that the stronger the accounting conservatism, the lower the debt cost.
【學位授予單位】：東北師范大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F233;F275

【參考文獻】

相關期刊論文 前10條

1 崔偉;;公司治理與債務成本——來自深交所A股上市公司的經(jīng)驗證據(jù)[J];財會通訊(學術版);2008年01期

2 趙鵬飛;;公允價值會計的改進——兼顧穩(wěn)健性[J];財會月刊;2009年34期

3 江偉;;會計穩(wěn)健性與管理層薪酬對會計業(yè)績的敏感度[J];暨南學報(哲學社會科學版);2007年05期

4 曲曉輝;邱月華;;強制性制度變遷與盈余穩(wěn)健性——來自深滬證券市場的經(jīng)驗證據(jù)[J];會計研究;2007年07期

5 趙德武;曾力;譚莉川;;獨立董事監(jiān)督力與盈余穩(wěn)健性——基于中國上市公司的實證研究[J];會計研究;2008年09期

6 楊丹;王寧;葉建明;;會計穩(wěn)健性與上市公司投資行為——基于資產(chǎn)減值角度的實證分析[J];會計研究;2011年03期

7 陳圣飛;張忠壽;王燁;;會計穩(wěn)健性研究的理論回顧與展望——基于契約觀和信息觀的視角[J];會計研究;2011年04期

8 祝繼高;;會計穩(wěn)健性與債權人利益保護——基于銀行與上市公司關于貸款的法律訴訟的研究[J];會計研究;2011年05期

9 張兆國;劉永麗;談多嬌;;管理者背景特征與會計穩(wěn)健性——來自中國上市公司的經(jīng)驗證據(jù)[J];會計研究;2011年07期

10 張敦力;李琳;;會計穩(wěn)健性的經(jīng)濟后果研究述評[J];會計研究;2011年07期

本文編號：1665163