| 中国上市公司会计信息质量与股价信息含量关系实证检验 |
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| 引用本文： | 袁知柱,鞠晓峰.中国上市公司会计信息质量与股价信息含量关系实证检验[J].中国管理科学,2008(Z1). |
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| 作者姓名： | 袁知柱 鞠晓峰 |
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| 作者单位： | 哈尔滨工业大学经济与管理学院; |
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| 基金项目： | 国家哲学社会科学创新基地资助(htcsr06t06) |
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| 摘 要： | 虽然Jin和Myers(2006)基于国家层面实证分析了会计信息质量与股价信息含量的关系,但是一直缺乏一国内部即公司层面证据支持。本文以2004-2006年的中国上市公司为研究样本,依据股价波动非同步性指标来度量股价信息含量,从公司层面考察会计信息质量对股价信息含量的影响。实证结果表明:会计信息质量与股价信息含量显著正相关,因此高水平信息披露政策能有效增加上市公司股价信息含量。这一实证结果进一步支持了Jin和Myers(2006)的股价信息含量差异决定于会计信息披露水平的研究结论。
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| 关 键 词： | 会计信息质量 披露政策 股价信息含量 股价波动非同步性 |
Empirical Research on the Correlation between Accounting Information Quality and Stock Price Informativeness in Chinese Listed Companies |
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| YUAN Zhi-zhu,JU Xiao-feng.Empirical Research on the Correlation between Accounting Information Quality and Stock Price Informativeness in Chinese Listed Companies[J].Chinese Journal of Management Science,2008(Z1). |
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| Authors: | YUAN Zhi-zhu JU Xiao-feng |
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| Affiliation: | YUAN Zhi-zhu,JU Xiao-feng (School of Economy , Management,Harbin Institute of Technology,Harbin 150001,China) |
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| Abstract: | Although Jin and Myers(2006)empirically studied the correlation between accounting information quality and stock price informativeness based on country level,there are few empirical results to support it based on corporate level within one country.By the use of stock price non-synchronicity as the measurement of stock price informativeness, the paper,taking Chinese listed companies from 2004 to 2006 as the research sample,studies the effect of accounting information quality on stock price informativeness.Th... |
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| Keywords: | accounting information quality disclosure policy stock price informativeness stock price non -synchronicity |
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