【摘要】：上市公司信息披露是證券市場信息公開制度的核心內容,是衡量資本市場效率的一個重要指標。上市公司應披露的信息可分為三部分內容,即:財務會計信息、審計信息和非財務會計信息,其中財務會計信息被列為世界各國公司治理信息披露的重點,它主要用來評價公司的獲利能力和經營狀況及預測未來的經營前景,是解決會計信息使用者與提供者之間信息不對稱問題的主要方式,高質量的信息披露是證券市場健康發(fā)展的基石,直接決定著社會資源的配置效率和資本市場的有效性,然而我國會計信息質量問題不容樂觀;機構投資者憑借其專業(yè)優(yōu)勢、參與公司治理,可以提高其內部控制的有效性,使上市公司的經營更加規(guī)范化、有效化,同時使其會計信息相關決策和執(zhí)行流程更加科學、規(guī)范,從而促進其會計信息質量的提高。 本文首先介紹了機構投資者的內涵和外延、分析了會計信息質量特征的含義,界定了本文的研究范圍;之后梳理了有關機構投資者特征和作用的文獻,認為機構投資者本身的特性賦予了其影響會計信息質量的可能性,并歸納整理了國內外有關機構投資者對會計信息質量影響的文獻,發(fā)現目前國內外對這一研究還存在較大分歧,且大多數研究采用的數據較早,已不能及時反映我國當前證券市場現狀,因此有必要對該問題做進一步的研究;緊接著文章詳細論述了機構投資者影響會計信息質量的內外部機制和邏輯,為實證研究假設的提出奠定了理論基礎,并在此基礎上提出假設和模型設計思路,對變量進行定義,并運用我國2007-2009滬深兩市866家上市公司數據,從盈余管理程度、披露可靠性和及時性三個角度衡量會計信息質量與機構持股的關系,研究結果表明機構持股與盈余管理程度顯著負相關,與披露可靠性正相關但不顯著,與披露及時性也顯著正相關,研究結論認為,我國機構投資者持股在一定程度上提高了我國上市公司的會計信息質量;文章最后針對研究結果提出了對進一步發(fā)揮機構作用、提高會計信息質量的建議,以及本研究的不足之處和未來的研究展望。
[Abstract]:The information disclosure of listed companies is the core content of the information disclosure system of the securities market and an important index to measure the efficiency of the capital market. The information that the listed companies should disclose can be divided into three parts, namely, financial accounting information, audit information and non-financial accounting information, and the financial accounting information is listed as the corporate governance letter of the world. The focus of information disclosure is mainly used to evaluate the profitability and management status of the company and to predict future business prospects. It is the main way to solve the problem of information asymmetry between the users and the providers of accounting information. High quality information disclosure is the basis for the healthy development of the securities market, which directly determines the efficiency of the allocation of social resources and the efficiency of the allocation of social resources. The effectiveness of the capital market, however, the quality of accounting information in China is not optimistic. The institutional investors, with their professional advantages, participate in corporate governance, can improve the effectiveness of their internal control, make the operation of the listed companies more standardized and effective, and make their accounting information related decisions and Implementation processes more scientific and standardized, so that the accounting information is more scientific and standardized. Promote the improvement of the quality of its accounting information.
This paper first introduces the connotation and extension of institutional investors, analyzes the meaning of the quality characteristics of accounting information, defines the scope of the study, and then combs the literature about the characteristics and functions of institutional investors, and thinks that the characteristics of institutional investors themselves give the possibility of influencing the quality of information, and summed up the domestic market. In the literature on the influence of institutional investors on the quality of accounting information, it is found that there are still great differences in this study at home and abroad, and the data that most of the research uses are early, and it is not timely to reflect the current situation of the securities market in China. Therefore, it is necessary to do a further study on this issue. The investor affects the internal and external mechanism and logic of the quality of accounting information, lays a theoretical foundation for the hypothesis of empirical research, and on this basis puts forward assumptions and model design ideas, defines the variables, and uses the data of 866 listed companies in China's 2007-2009 Shanghai and Shenzhen two cities to disclose the reliability and timeliness of three from the earnings management level. The results show that the institutional shareholding is negatively related to the degree of earnings management, which is positively related to the disclosure reliability, but not significant, and has a significant positive correlation with the disclosure of timeliness. According to the information quality, the article finally puts forward some suggestions on the further development of the institutional role, the improvement of the quality of accounting information, and the shortcomings of this study and the future research prospect.
【學位授予單位】：青島理工大學
【學位級別】：碩士
【學位授予年份】：2010
【分類號】：F275;F276.6;F224

【引證文獻】

相關期刊論文 前1條

1 呂賢平;林艷;李煒;;機構投資者持股對應計異象影響的實證研究[J];東北農業(yè)大學學報(社會科學版);2012年05期

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本文編號：2141572