华东师范大学(哲学社会科学版) ›› 2014, Vol. 46 ›› Issue (6): 121-128.

• 经济管理问题探讨 • 上一篇    下一篇

会计信息估值作用与激励作用相互关系研究 
——基于现金流的检验

许静静   

  1. 华东师范大学商学院,上海,200241
  • 出版日期:2014-11-15 发布日期:2014-12-11
  • 通讯作者: 许静静
  • 作者简介:许静静
  • 基金资助:

    本文为教育部人文社科研究青年基金项目(13YJC630193)的阶段性成果。

The Correlation between Valuation and Incentive Role of Accounting Information ——the Test based on Cash Flow Information

Jingjing Xu   

  • Online:2014-11-15 Published:2014-12-11
  • Contact: Jingjing Xu
  • About author:Jingjing Xu

摘要: 会计信息估值作用与激励作用是会计信息在资本市场中扮演的两大主要角色,会计信息两大作用之间是否存在某种关系是会计学研究的基础问题。基于中国资本市场2002—2012 年度数据,探讨“ 现金流”这一会计信息两大作用之间是否具有相互关系,以及较之盈余信息,现金流两大作用之间的相互关系有何不同,其结果表明,现金流估值作用与激励作用之间成正向关系;现金流两大作用之间的相互关系弱于盈余信息两大作用之间的相互关系。上述结论能够对会计信息两大作用之间相互关系研究的文献有所补充,同时对关注利用会计信息进行估值及高管薪酬契约设计的相关主体具有参考价值。

关键词: 现金流, 估值作用, 激励作用, 盈余

Abstract: This paper studies the correlation between valuation and inventive role of cash flow information in Chinese stock market. Specifically, using data from year 2002 to year 2012 in Chinese stock market, this paper discusses whether there’s a correlation between valuation and incentive role of cash flow information, and what’s the difference compared to earnings information. The results show that there’s a positive correlation between the valuation and inventive role of cash flow information, but this correlation is weaker compared to earnings information. This paper is a complement to the studies about the correlation between valuation and inventive role of accounting information. This paper also can be a reference to people who care about valuation or compensation contract.

Key words: cash flow;valuation role , incentive role , correlation