湖南科技大学学报:社会科学版
湖南科技大學學報:社會科學版
호남과기대학학보:사회과학판
journal of hunan university of science&technology
2013年
2期
108~110
,共null页
会计信息质量 盈余公告效应 实证检验
會計信息質量 盈餘公告效應 實證檢驗
회계신식질량 영여공고효응 실증검험
accounting information quality;Post Earnings Announcement Drift(PEAD);empirical test
盈余公告效应(Post Earnings Announcement Drift)是学界广泛研究的一大课题,通过探讨会计信息质量与盈余公告效应之间的关系并利用盈余公告效应这一现象考察2007年实行新会计准则后资本市场效率是否得到改善。结果是:会计信息质量高的上市公司,其盈余公告效应程度应该较小;因此,2007年后,由于会计信息质量提高,整体而言,上市公司的盈余公告效应的程度也将降低。
盈餘公告效應(Post Earnings Announcement Drift)是學界廣汎研究的一大課題,通過探討會計信息質量與盈餘公告效應之間的關繫併利用盈餘公告效應這一現象攷察2007年實行新會計準則後資本市場效率是否得到改善。結果是:會計信息質量高的上市公司,其盈餘公告效應程度應該較小;因此,2007年後,由于會計信息質量提高,整體而言,上市公司的盈餘公告效應的程度也將降低。
영여공고효응(Post Earnings Announcement Drift)시학계엄범연구적일대과제,통과탐토회계신식질량여영여공고효응지간적관계병이용영여공고효응저일현상고찰2007년실행신회계준칙후자본시장효솔시부득도개선。결과시:회계신식질량고적상시공사,기영여공고효응정도응해교소;인차,2007년후,유우회계신식질량제고,정체이언,상시공사적영여공고효응적정도야장강저。
While Post Earnings Announcement Drift(PEAD) is a widely documented financial academic topic,we would like to contribute to this topic by presenting some evidence relating to information quality’s connection to PEAD.We believe that the firms with higher information quality posses lower PEAD.Lucky for us,there is a natural experiment available in current China.That is,the New Accounting Rule.Ever since it is in force in 2007,the information quality of Chinese listed firms has improved,which can be proved by theoretical analysis and our test.Therefore,by comparing the PEAD before and after 2007 New Accounting Rule,the connection between information quality and PEAD can be unraveled.