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基于分析师盈利预测的视角,采用实证分析的研究方法,选取我国剔除金融保险业的所有A股上市公司自2002—2013年的分析师跟踪数据为样本,以分析师盈利预测误差为因变量,从公司治理环境及机构投资者两个维度,探索会计准则国际化对资本市场的影响。研究发现会计准则国际化后,分析师对上市公司盈利预测的误差减少;在公司所处治理环境好的地方,分析师盈利预测更加准确;此外,机构投资者持股比例高的上市公司,分析师盈利预测更加准确。由此,为未来研究提供启示与借鉴的同时,对中国会计准则国际化提出建议。
Based on the analyst’s profit forecast, this paper uses the empirical research method to select all the A-share listed companies in China’s financial insurance industry from 2002 to 2013 as the sample. Taking the earnings forecast error as the dependent variable, From the two dimensions of corporate governance environment and institutional investors, this paper explores the impact of internationalization of accounting standards on capital markets. After the internationalization of accounting standards was found, the analyst’s error on the profit forecast of the listed company decreased; the profit forecast of the analyst was more accurate where the corporate governance environment was good; besides, the listed companies with high proportion of institutional investors held the analysis Division profit forecast more accurate. As a result, while providing inspiration and reference for future research, we also put forward suggestions on the internationalization of Chinese accounting standards.