资产专用性与会计稳健性——基于资本结构的中介效应研究

摘要

This paper used institutional economics theory and the method of mediating effect to discuss the influence of asset specificity on accounting conservatism, especially the impact pathway. It has found out that accounting conservatism as a specif⁃ic institution arrangement, has the ability of delivering signal and supervision. With the asset specificity degree increasing, ac⁃counting conservatism level improves. Furthermore, this paper has demonstrated that asset specificity has an impact on account⁃ing conservatism greatly through affecting capital structure. Moreover, long-term loans proportion has played a important role. In a word, capital structure has a significant mediating effect.%　　文章运用制度经济学相关理论，采用中介效应分析方法，研究资产专用性对会计稳健性的影响及其影响路径。研究发现：会计稳健性作为特殊的制度安排，具有传递信号和监督管理层的功能，会计稳健性程度随着资产专用性水平的提高而提高。进一步的研究还发现，资产专用性主要通过影响资本结构进而影响会计稳健性水平，特别是长期借款比例，资本结构存在显著的中介效应。