摘要
收入作为会计的六大要素之一,是影响利益相关者决策的重要因素,新收入准则的执行效果也是近年来学术界和实务界共同关注的热点问题。本文从分析师预测的视角,研究新收入准则的实施对上市公司会计信息质量的影响及其影响路径。研究发现:(1)执行新收入准则的企业,其分析师预测准确度提高,分歧度降低;(2)中介效应检验显示,新收入准则通过提高信息披露水平以及会计信息可比性来提高分析师预测准确度,并降低预测分歧度;(3)产权性质、机构持股比例均会影响新收入准则与分析师预测质量之间的关系,在非国有企业和机构持股比例较低的公司,执行新收入准则对分析师预测的影响更显著。本文的结论不仅丰富了新收入准则经济后果领域的相关文献,也为2020年新收入准则在上市公司的全面执行提供了经验借鉴,为政府部门更好地制定政策以及投资者更好地利用分析师预测提供了参考,具有重要的理论价值和实践意义。
As one of the six elements of accounting,revenue is important for stakeholders'decisions,and the implementation effect of the New Revenue Standard has been a hot issue of common concern for academics and practitioners in recent years.This paper studies the impact of the implementation of the New Revenue Standard on the quality of listed firms’accounting information and its channel from the perspective of analyst forecasting.We find that:(1)analysts'forecast accuracy increases and dispersion decreases in firms that implement the New Revenue Standard;(2)the test of mediating effect shows that the New Revenue Standard improves analysts'forecast accuracy and reduces forecast dispersion by enhancing the disclosure and comparability of accounting information;(3)the nature of property rights and institutional shareholding ratio both affect the relationship between the New Revenue Standard and analysts'forecast quality,that is,in non-state-owned companies and companies with lower institutional shareholdings,the impact of the New Revenue Standard on analysts'forecasts is more significant.The empirical findings of this paper not only enrich the relevant literature in the field of economic consequences of the New Revenue Standard,but also provide an empirical reference for the full implementation of the New Revenue Standard in all listed firms in 2020,and provide implications for both regulatory authorities and investors’decisions,which has important theoretical and practical contributions.
出处
《会计研究》
CSSCI
北大核心
2022年第9期3-20,共18页
Accounting Research
基金
国家社会科学基金重大项目“面向国际趋同的国家统一会计制度优化路径研究”(16ZDA029)
财政部会计名家培养工程的资助
关键词
新收入准则
分析师预测
会计信息质量
New Revenue Standard
Analyst Forecast
Accounting Information Quality
