發(fā)布時間：2018-05-25 08:09

  本文選題：投資者情緒 + 會計穩(wěn)健性��； 參考：《哈爾濱商業(yè)大學(xué)》2014年碩士論文

【摘要】：隨著金融危機的愈演愈烈,市場“異象”不斷浮現(xiàn),傳統(tǒng)經(jīng)濟學(xué)理論已不足以解釋這些異象的發(fā)生。二十世紀后期,行為金融學(xué)產(chǎn)生。該理論將投資者定義為是非理性的,并認為投資者在投資決策中受到情感、認知、態(tài)度等心理因素的影響進而會產(chǎn)生市場效應(yīng)。投資者情緒作為行為金融學(xué)中重要的組成部分,其變化會影響著投資者的行為和管理者對會計政策的選擇。會計穩(wěn)健性原則一直是會計信息評價中重要的標準之一。目前,市場上信息不對稱程度愈加明顯,穩(wěn)健性由于具有約束管理者的機會主義行為的作用,國內(nèi)外學(xué)者對它的研究已逐漸加深。受投資者情緒的影響,公司管理層會迎合投資者情緒對會計信息進行操控,從而影響會計信息的穩(wěn)健性。本文在現(xiàn)代市場兩權(quán)分離的經(jīng)濟體制下,采用規(guī)范研究和實證研究相結(jié)合的方法對投資者情緒影響會計穩(wěn)健性的作用機理進行梳理和研究,為有效提高我國會計信息質(zhì)量提供理論基礎(chǔ)和經(jīng)驗證據(jù)。 文章首先整理和分析國內(nèi)外學(xué)者對投資者情緒和會計穩(wěn)健性的研究情況,闡述了投資者情緒和會計穩(wěn)健性原則的相關(guān)概念,并基于委托代理理論、信息不對稱理論和契約理論,分析投資者情緒影響會計穩(wěn)健性的作用機理并提出實證研究假設(shè)。其次,本文以2007—-2012年期間我國A股市場的上市公司為研究樣本,借鑒BW情緒指數(shù)和Basu(1997)模型對投資者情緒和會計穩(wěn)健性進行計量,采用描述性分析方法、相關(guān)性分析方法和回歸分析方法進行實證檢驗。檢驗結(jié)果表明,投資者情緒高漲時期,管理層會為了迎合投資者的樂觀情緒而降低會計穩(wěn)健性；投資者情緒低落時期,管理層采取較為穩(wěn)健的會計政策,迎合了投資者的悲觀情緒。最后,在此結(jié)論的基礎(chǔ)上提出完善投資者情緒對會計穩(wěn)健性影響的政策建議。
[Abstract]:As the financial crisis intensifies, the market "vision" emerges constantly, the traditional economic theory is no longer enough to explain the occurrence of these anomalies. Behavioral finance emerged in the late twentieth century. This theory defines investors as irrational, and believes that investors are affected by emotional, cognitive, attitude and other psychological factors in their investment decisions, and then produce market effects. As an important part of behavioral finance, investor sentiment changes will affect the behavior of investors and the choice of accounting policies. Accounting conservatism principle has always been one of the important standards in accounting information evaluation. At present, the degree of information asymmetry is becoming more and more obvious in the market. Due to the role of opportunistic behavior of constrained managers, the research on it has been deepened gradually by domestic and foreign scholars. Under the influence of investor sentiment, company management will cater to investor sentiment to manipulate accounting information, thus affecting the conservatism of accounting information. Under the economic system of the separation of two powers in the modern market, this paper combs and studies the mechanism of the influence of investor sentiment on accounting conservatism by combining normative research with empirical research. To effectively improve the quality of accounting information in China to provide the theoretical basis and empirical evidence. Firstly, this paper summarizes and analyzes the research situation of investor sentiment and accounting conservatism at home and abroad, expounds the related concepts of investor sentiment and accounting conservatism principle, and bases on principal-agent theory, information asymmetry theory and contract theory. This paper analyzes the mechanism of investor sentiment influencing accounting conservatism and puts forward empirical research hypothesis. Secondly, taking the listed companies in China's A-share market from 2007 to 2012 as the research samples, using BW sentiment index and Basuqi 1997) model to measure investor sentiment and accounting conservatism, the paper adopts descriptive analysis method. Correlation analysis method and regression analysis method are used to test. The test results show that in times of high investor sentiment, management will reduce accounting conservatism in order to meet the optimism of investors, and when investors are depressed, management will adopt more prudent accounting policies. Pandering to investor pessimism. Finally, on the basis of the conclusion, the paper puts forward some policy suggestions to improve the influence of investor sentiment on accounting conservatism.
【學(xué)位授予單位】：哈爾濱商業(yè)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F233

【共引文獻】

相關(guān)期刊論文 前1條

1 楊玉龍;潘飛;張川;;上下級關(guān)系、組織分權(quán)與企業(yè)業(yè)績評價系統(tǒng)[J];管理世界;2014年10期

相關(guān)碩士學(xué)位論文 前1條

1 盧淳鈺;XBRL在工商銀行財務(wù)報表中的應(yīng)用研究[D];哈爾濱商業(yè)大學(xué);2014年

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本文編號：1932719