会计信息质量对企业投资效率的作用机理

摘要

本文阐述了会计信息质量作用于企业投资效率的机理，并以此为实证研究假设进行了检验。研究发现会计信息是通过融资约束、代理问题、投资机会识别渠道作用于企业投资效率的，高质量的会计信息能够提高企业投资效率；公司面临的融资约束程度越严重，会计信息质量对企业投资效率的提高作用越明显；公司代理问题越严重，会计信息质量对企业投资效率的提高作用也越明显。%This paper expounds the effect mechanism of accounting information quality on enterprises investment efficien -cy, and empirically tests it .The study finds that the accounting information affects enterprise investment efficiency through three channels:the financing constraints , the problem of agency , investment opportunity recognition;high quali-ty accounting information can improve enterprise investment efficiency;the more serious is the degree of financing con-straints companies face , the more obvious is the effect of accounting information quality enhancing the investment effi -ciency;the more serious is agency problem , the more obvious is effect of accounting information quality enhancing the ef -ficiency of investment .