风险投资对上市公司会计稳健性的影响研究

以2012—2014年我国创业板及中小板共978家公司为研究对象,对其在风险投资背景下上市公司的会计稳健性所受影响进行考察。研究结果表明:在我国创业板和中小板上市公司中,风险投资背景的存在会显著影响公司内部会计稳健性水平,相比于不具有风险投资背景的上市公司,具有风险投资背景的上市公司会计稳健性程度更低,即风险投资机构作为公司股东存在的情况会在一定程度上降低目标公司会计信息的稳健程度,在进行会计确认时可能未将可能发生的损失考虑完全,其利润可能存在高估的风险。因此上市公司应正视风险投资机构对其产生的影响,并注重对负面影响进行相应的预防与控制。

Research on the Impact of Venture Capital on Accounting Conservatism of Listed Companies in China

With 978 companies of GEM and SMEs in China from 2012 to 2014 the object of study, this paper investigates the impact of accounting conservatism on listed companies in the context of venture capital. The results show that venture capital significantly affects the level of on accounting conservatism. Compared with the listed companies without venture capital incorporated, the listed companies with venture capital background are characterized with lower degree of accounting conservatism, that is, the existence of venture capital institutions as shareholders of the company helps to reduce the accounting conservatism of the target company to a certain extent. It may not take into account all the company''s losses, with its profits likely to be overvalued. Listed companies should face up to the impact of venture capital institutions, and should pay particular attention to the prevention and control of its negative impact.