發(fā)布時間：2018-03-23 02:24

  本文選題：會計穩(wěn)健性　切入點：融資約束　出處：《中國礦業(yè)大學》2017年碩士論文　論文類型：學位論文

【摘要】：會計穩(wěn)健性,是損失與收益確認非對稱性的主要依據,能夠為企業(yè)提供可靠的財務信息,2010年國際準則發(fā)生變化,在與其趨同接軌的大潮流下,會計穩(wěn)健性再次被拉回了研究學者的視野之中。由于不完全市場的存在,資金需求者與供給者之間的信息不對稱和代理沖突造成了融資約束現象的出現。成長性作為公司的“靈魂”,是企業(yè)穩(wěn)定持續(xù)發(fā)展的基礎,對促進我國經濟發(fā)展發(fā)揮著不可或缺的作用。金融危機之后,我國經濟整體上處于增速換擋、結構調整和前期政策消化三期壓力疊加的再平衡調整階段。那么,在這種特殊階段,會計穩(wěn)健性作為公司治理的重要機制,能否減輕企業(yè)所受的融資約束及提高公司成長性成為理論界與實務界所關注的焦點。本文基于我國獨特文化背景和制度環(huán)境,梳理了國內外會計穩(wěn)健性、融資約束與公司成長性的相關已有研究文獻,以已有學者研究為基礎,選取2011年至2015年深滬兩市A股上市公司作為研究樣本,立足于公司成長性,將會計穩(wěn)健性這一會計概念與融資約束和公司成長性相聯系,將三者納入統(tǒng)一的分析框架,嘗試系統(tǒng)探討了三者之間的作用機理,發(fā)現其內在聯系和變化規(guī)律,并從實證分析的角度進行驗證,最終得出的結論對現有研究進行檢驗和有益補充,并拓展相關問題的研究領域。本文在理論分析的基礎上,運用EXCEL、SPSS等軟件,選用C-SCORE模型和綜合指數Logit模型分別度量會計穩(wěn)健性和融資約束,然后構建相關模型,檢驗了會計穩(wěn)健性與融資約束、會計穩(wěn)健性與公司成長性、融資約束與公司成長性之間的關系,最后考察會計穩(wěn)健性在融資約束與公司成長性二者之間發(fā)揮的作用。實證結果表明:(1)會計穩(wěn)健性在我國上市公司普遍存在,并能傳遞出積極的信號,緩解融資約束程度及提升公司成長性;(2)融資約束與公司成長性呈負相關關系,融資約束對公司成長性具有顯著的抑制效應;(3)會計穩(wěn)健性能夠緩解融資約束與公司成長性之間的負向效應。在理論和實證分析的基礎上,本文最終得出的結論證實了會計穩(wěn)健性的重要性,豐富了會計穩(wěn)健性經濟后果領域的研究,對于準則的完善和有關監(jiān)管措施的改進具有現實意義,同時也能夠通過相關政策建議為企業(yè)如何持續(xù)穩(wěn)定成長和發(fā)展提供可靠的經驗數據和實證依據。
[Abstract]:Accounting conservatism is the main basis for asymmetric recognition of loss and income. It can provide reliable financial information for enterprises. In 2010, the international standards changed, and in the tide of convergence with them, Accounting conservatism is once again drawn back into the field of view of researchers. Due to the existence of incomplete markets, The information asymmetry and agency conflict between the fund demanders and the suppliers lead to the emergence of financing constraints. As the "soul" of the company, growth is the basis for the stable and sustainable development of the enterprise. It plays an indispensable role in promoting the economic development of our country. After the financial crisis, China's economy as a whole is in the stage of rebalancing adjustment of growth rate shift, structural adjustment and pre-policy digestion. At this special stage, accounting conservatism is an important mechanism of corporate governance. Whether we can lighten the financing constraints on enterprises and improve the growth of companies has become the focus of the theoretical and practical circles. Based on the unique cultural background and institutional environment of our country, this paper combs the accounting conservatism at home and abroad. Based on the existing research literature on financing constraints and corporate growth, this paper selects A-share listed companies in Shenzhen and Shanghai from 2011 to 2015 as research samples, which is based on corporate growth. The accounting concept of accounting conservatism is connected with the financial constraints and the growth of the company, and the three are brought into the unified analysis framework, and the mechanism of the three is discussed systematically, and the internal relation and the changing law are found. And from the perspective of empirical analysis to verify, the final conclusion of the existing research to test and useful supplement, and expand the research areas of related issues. Based on the theoretical analysis, the use of excel SPSS and other software, The C-SCORE model and the composite index Logit model are used to measure accounting conservatism and financing constraints respectively, and then the related models are constructed to test accounting conservatism and financing constraints, accounting conservatism and corporate growth. The relationship between financing constraints and corporate growth. Finally, the paper examines the role of accounting conservatism in financing constraints and corporate growth. The empirical results show that accounting conservatism is prevalent in listed companies in China. And can send a positive signal, ease the degree of financing constraints and enhance the growth of companies / 2) financing constraints and corporate growth are negatively related. Financial constraints have a significant inhibitory effect on corporate growth. Accounting conservatism can alleviate the negative effect between financing constraints and corporate growth. The conclusion of this paper proves the importance of accounting conservatism, enriches the research in the field of economic consequences of accounting conservatism, and has practical significance for the perfection of standards and the improvement of relevant regulatory measures. At the same time, it can also provide reliable empirical data and empirical evidence for the sustained and stable growth and development of enterprises through relevant policy recommendations.
【學位授予單位】：中國礦業(yè)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F275;F832.51

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