内部控制报告、财务报告质量与信息不对称——来自沪市上市公司的经验证据
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财经研究 2010 年 第 36 卷第 07 期, 页码：82 - 92
摘要
参考文献
摘要
文章以2006-2008年沪市A股上市公司为研究样本,在检验自愿披露内部控制报告的上市公司是否具有更可靠盈余信息的基础上,进一步检验其降低信息不对称程度的具体机制。实证结果表明:内部控制报告的自愿披露不仅伴随着公司盈余信息可靠性的改善,同时也通过降低信息不对称提高公司股票交易的市场效率;不过,信息不对称的降低主要是因内部控制报告自愿披露带来的公司整体信息披露水平的提高所致,盈余信息可靠性的改善在降低信息不对称程度方面所发挥的积极作用相对有限。
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[2] 张龙平,王军只,张军.内部控制鉴证对会计盈余质量的影响研究[J].审计研究,2010,(2) :37-46．
[3] Ashbaugh-Skaife H, Collins D, Kinney W, et al. The effect of SOX internal control deficiencies and their remediation on accrual quality[J]. Accounting Review, 2008,83 (1) : 425--444．
[4] Ball R, Shivakumar L. The role of accruals in asymmetrically timely gain and loss recognition[J]. Journal of Accounting Research,2006, 44: 54--78．
[5] Botosan C. Disclosure level and the cost of equity capital[J]. Accounting Review, 1997, 72: 365--395．
[6] Dechow P, Dichev I. The quality of accruals and earnings: The role of accrual estimation error[J]. The Accounting Review,2002, 77 : 3--27．
[7] Doyle J, Ge E, Mcvay S. Accrual quality and internal control over financial reporting[J]. Accounting Review, 2007, 82(5) : 85--115．
[8] Easley D, Hvidkjaer S, O' Hara M. Is information risk a determinant of asset returns?[J]. Journal of Finance, 2002, 57: 134--156．
[9] Grahama J R, Campbell R H, Rajgopal S. The economic implications of corporate fi- nancial reporting[J]. Journal of Accounting and Economics, 2005, 40:356--382．
[10] Heflin F, Shaw K W, Wild J J. Disclosure policy and market liquidity: Impact of depth quotes and order sizes[J]. Contemporary Accounting Research, 2005, 22:14--46．
[11] Lang M, Lundholm R. Cross-sectional determinants of analyst ratings of corporate disclosures[J]. Journal of Accounting Research , 1993, (24) :49--71．
[12] Leuz C, Oberholzergee F. Corporate transparency and political connections[R]. Working Paper, University of Pennsylvania, Wharton, 2003．
[13] Lundholm R J, Myers L. Bringing the future forward: The effect of disclosure on the returns-earnings relation[J]. Journal of Accounting Research, 2002, 40 : 79--115．
[14] McMullen D A, Raghunandan K, Rama D V. Internal control reports and financial re porting problems[J]. Accounting Horizons, 1996, 10:213--287．
[15] Trueman B. Why do managers voluntarily release earnings forecasts?[J]. Journal of Accounting and Economics, 1986, (8) :85--115．
[16] Verrecchia R. Discretionary disclosure[J]. Journal of Accounting and Economics, 1983,(5) :26--57
引用本文
黄寿昌, 杨雄胜. 内部控制报告、财务报告质量与信息不对称——来自沪市上市公司的经验证据[J]. 财经研究, 2010, 36(7): 82–92.
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