摘要
本文通过对地方政府工作报告的文本分析构建政府工作目标完成度,研究其对当地公司盈余管理的影响。结果显示:地方政府工作目标完成度越高,当地公司的盈余管理水平越低。这表明地方政府工作目标完成度所投射出的政府行为具有“软约束力”,会影响到公司的盈余管理动机与行为。机制检验显示:政企关系、公司长期行为、群体规范和当地的法治水平在二者关系中起到了部分中介作用。进一步研究发现,地方政府工作目标完成度所展现出的“软约束”与法律法规等正式制度的“硬约束”存在替代作用:当正式制度越薄弱时,高水平的地方政府工作目标完成度对公司盈余管理的遏制作用将更加显著。本文的研究结论为中国制度背景下政府工作目标完成度的重要性提供了证据:当地方政府能较好地完成既定目标时,它将给社会带来积极的外部性,弥补了正式制度的不足。
We manually read and counted the completion degree of work arrangements formulated in the annual government work report of each city,and analyzes its impact on the earnings management of local companies.We find that the higher the completion of local government work objectives,the lower the level of earnings management of local companies.It shows that the government behavior reflected by the completion degree of local government work objectives has the‘soft binding’,which will affect the company’s earnings management.The mechanism test shows that the relationship between government and company,the company’s long-term goals,group norms and the legal environment play a partial intermediary role.Further research shows that the‘soft binding’reflected by the completion degree of local government work objectives can replace with the‘rigid binding’reflected by legal regulations and other formal institutions.Our study provides the evidence for the importance of the completion of government work objectives in the context of Chinese institutions.If the local government can better achieve the set goals,it will bring positive externality to the society so as to make up for the shortcomings of the formal institutions.
出处
《会计研究》
CSSCI
北大核心
2022年第6期32-42,共11页
Accounting Research
基金
国家自然科学基金重大项目(71790601)
国家自然科学基金面上项目(71872157)
国家自然科学基金面上项目(72272125)
福建省自然科学基金项目(2020J01316)的资助
关键词
政府工作报告
目标完成度
盈余管理
Government Work Report
The Completion Degree of Work Objectives
Earnings Management
