本文選題：會計穩(wěn)健性 + 債務(wù)融資成本��； 參考：《重慶工商大學(xué)》2014年碩士論文

【摘要】：會計穩(wěn)健性對會計理論與實務(wù)產(chǎn)生重要而長遠(yuǎn)的影響。現(xiàn)階段國內(nèi)外主要對穩(wěn)健性原則從以下四個方面實施探究：一是探究穩(wěn)健性存在性，二是探究穩(wěn)健性產(chǎn)生動機(jī)，三是探究穩(wěn)健性度量方法，四是探究穩(wěn)健性經(jīng)濟(jì)后果。國內(nèi)對會計信息穩(wěn)健性的研究主要局限于它的存在性和影響因素。 從我國的實際出發(fā)，現(xiàn)階段我國企業(yè)的融資現(xiàn)狀不是很樂觀，主要是由于存在著資本市場不是完全有效的，相關(guān)法律制度也不完善，尤其是2008年全球爆發(fā)的金融危機(jī)更加擾亂了證券市場的秩序，市場重新洗牌，企業(yè)的經(jīng)營環(huán)境更是遭到破壞。很多企業(yè)為了隱藏自己的業(yè)績情況，信息披露不及時充分，導(dǎo)致投資者面臨很大的違約風(fēng)險，損害其相關(guān)利益。一般情況下，投資者通常采用查看企業(yè)的財務(wù)報告并進(jìn)行相關(guān)方面的分析，通過這個途徑來衡量投資的風(fēng)險大小，投資者非常關(guān)注其質(zhì)量高低。由于企業(yè)的會計政策會影響其財務(wù)數(shù)據(jù)的可靠性，所以在選擇和運用會計政策的時候是否遵循會計穩(wěn)健性原則，會直接影響著投資者對企業(yè)營運能力、償債能力、盈利能力及發(fā)展能力的判斷和投資決策的判斷。因此，企業(yè)的會計信息的穩(wěn)健性和其融資成本之間存在一定的關(guān)系就具備了可能性。 本文主要針對我國資本市場，選取2009年至2012年我國滬深A(yù)股上市683家公司共計2730個樣本，將公司融資成本劃分為債務(wù)成本和股權(quán)成本，在前文理論分析的基礎(chǔ)上提出本文的研究假設(shè)，使用SPSS、Excel等統(tǒng)計分析軟件對收集的數(shù)據(jù)進(jìn)行因子分析、相關(guān)性分析和主成分回歸分析，從而得出結(jié)論�？疾炱髽I(yè)會計穩(wěn)健性的存在性及其對債務(wù)（股權(quán)）融資成本的影響。最后，結(jié)合理論和實證的研究成果，并在此基礎(chǔ)上提出相關(guān)的政策建議，同時指出本文研究的不足之處。 本文的實證研究結(jié)果如下：第一是我國上市公司普遍存在會計穩(wěn)健性；第二是企業(yè)的會計穩(wěn)健程度和債務(wù)融資成本之間呈負(fù)相關(guān)關(guān)系，也就是說企業(yè)采用穩(wěn)健的會計政策可以減少它的債務(wù)融資成本；第三是企業(yè)的會計穩(wěn)健程度和股權(quán)成本之間呈負(fù)相關(guān)關(guān)系，即企業(yè)采用穩(wěn)健的會計政策可以降低股權(quán)融資成本。
[Abstract]:Accounting conservatism has an important and long-term effect on accounting theory and practice. At present the domestic and foreign mainly carries out the research from the following four aspects: the first is to explore the existence of robustness, the second is to explore the motivation of conservatism, the third is to explore the measurement method of robustness, and the fourth is to explore the economic consequences of robustness. The domestic research on accounting information conservatism is limited to its existence and influencing factors. Proceeding from the reality of our country, the present financing situation of enterprises in our country is not very optimistic, mainly because the capital market is not completely effective and the relevant legal system is not perfect. Especially the global financial crisis broke out in 2008 even more disturbed the order of the securities market reshuffled the market and the business environment was destroyed. In order to hide their performance, many enterprises do not disclose information in a timely manner, which leads investors to face a great risk of default and damage their related interests. In general, investors usually look at the financial report of the enterprise and analyze the related aspects. Through this approach, the risk of investment is measured. Investors are very concerned about the quality of the investment. Since the accounting policy of an enterprise will affect the reliability of its financial data, whether or not it follows the principle of accounting conservatism when choosing and applying accounting policies will directly affect the investor's ability to operate and repay debt. The judgment of profitability and development ability and the judgment of investment decision. Therefore, there is a certain relationship between the conservatism of accounting information and its financing cost. This paper mainly aims at the capital market of our country, selects 2730 samples of 683 companies listed in Shanghai and Shenzhen A-shares from 2009 to 2012, and divides the financing cost into debt cost and equity cost. On the basis of the previous theoretical analysis, this paper puts forward the research hypothesis, and makes use of SPSS Excel and other statistical analysis software to carry on factor analysis, correlation analysis and principal component regression analysis to the collected data, so as to draw a conclusion. To investigate the existence of accounting conservatism and its influence on debt (equity) financing cost. Finally, combined with the theoretical and empirical research results, and on the basis of the relevant policy recommendations, pointed out the shortcomings of this study. The empirical results of this paper are as follows: first, accounting conservatism exists generally in listed companies in China; second, there is a negative correlation between accounting conservatism and debt financing cost. That is to say, the firm can reduce its debt financing cost by adopting prudent accounting policies; the third is the negative correlation between accounting conservatism and equity cost, that is, the adoption of prudent accounting policy can reduce the cost of equity financing.
【學(xué)位授予單位】：重慶工商大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F275;F832.51

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