摘要
本文阐述了会计信息质量作用于企业投资效率的机理,并以此为实证研究假设进行了检验。研究发现会计信息是通过融资约束、代理问题、投资机会识别渠道作用于企业投资效率的,高质量的会计信息能够提高企业投资效率;公司面临的融资约束程度越严重,会计信息质量对企业投资效率的提高作用越明显;公司代理问题越严重,会计信息质量对企业投资效率的提高作用也越明显。
This paper expounds the effect mechanism of accounting information quality on enterprises investment efficiency, and empirically tests it. The study finds that the accounting information affects enterprise investment efficiency through three channels： the financing constraints, the problem of agency, investment opportunity recognition; high quali- ty accounting information can improve enterprise investment efficiency; the more serious is the degree of financing constraints companies face, the more obvious is the effect of accounting information quality enhancing the investment efficiency ; the more serious is agency problem, the more obvious is effect of accounting information quality enhancing the efficiency of investment.
出处
《商业研究》
CSSCI
北大核心
2014年第6期64-75,共12页
Commercial Research
基金
河南省教育厅人文社会科学研究项目"会计信息
投资者情绪与企业投资效率"
项目编号:2014-zd-012
河南理工大学博士基金项目
项目编号:SKB2013-07
关键词
会计信息质量
企业投资效率
融资约束
代理问题
accounting information quality
enterprise investment efficiency
financing constraints
agency problem
