行业竞争与上市公司盈余质量-研究——基于应计利润和盈余持续性角度

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1、万方数据北京交通大学硕士学位论文ABSTRACTThequalityofearningsinformationisthekeyfactorthatprotectsinvestors’interestsandthatmaintainsthehealthydevelopmentofcapitalmarkets，ithasbeenattractingtheattentionoftheaccountinginformationusersandthepublic．Thefavourofinformationonthecompanyearninginformation

2、ismuchhigherthanthatoftheotheraccountinginformation．Earningsinformationqualitydirectlyaffectthevalueoftheexistenceofaccountinginformation，affecttheinvestors，creditors，managers，regulatorsandotherstakeholders’decision—makingbehavior,andaffectthehealthy,stableandsustainableofthedevel

3、opmentofthesecuritiesmarket．Butaccountingscandals，suchasEnron，WorldCom，intheearly21stCenturydrawthepublic’sattentiontotheearningsquality．Now,thattheearningsinformationoflistedcompaniesinChinaisoflowqualityisanindisputablefact．Earningsmanagementofthesecompaniesisaconlnlonphenomenon

4、andbringsadverseeffectstothecapitalmarkets．Managers’motivesfordisclosureareinfluencedbythefirm。Seconomicdeterminants，institutionalsettings，aswellasindustrycharacteristics．Existingrelatedresearchshowsthattheearningsinformationqualityisnotonlyaffectedbyextemalenvironmentfactors，thei

5、nfluenceoftheinstitutionalenvironmentandtheenterpriseinternal，alsoinfluencedbyindustrycharacteristics．ModemcompetitiontheoryprovidesUSanewperspectivetostudytheeffectontheearningsinformationquality．Theobjectiveofthisthesisistoexaminetheimpactofproductmarketcompetition，asmeasuredbyi

6、ndustryconcentration，onearningsquality．0bespecific，itincludes：(1)theimpactofindustryconcentrationonthequalityofdiscretionaryaccruals；(2)theimpactofindustryconcentrationonthequalityofearningspersistence．Fromtheoreticaldiscussionandempiricalanalysis，Ifundseveralconsistentevidences：a

7、negativerelationexistsbetweenindustryconcentrationandthequalityofearningsinformation。Thesefindingsareconsistentwiththeintuitionthatfirmsinconcentratedindustriestendtoprotecttheircompetitiveadvantageandavoidpublicandpoliticalattentionbychoosingadisclosurepolicythatisofalowerquality

8、．Thisthesiscomplementspriorresear