Research on China's stock market volatility, accounting conservatism and economic consequences of the scale of investment

摘要

Using China's Shanghai A-share listed companies from 2003 to 2011 for the total sample, empirical tested of company's accounting conservatism impact on the scale of investment under the different cycles in the stock market. Empirical findings as follows: in the stock market rise cycle, the scale of company investment increases as the weakening of accounting conservatism; In the stock market down cycles, the company expanded the scale of investment on the premise that accounting conservatism strengthened.