会计信息质量对企业并购绩效的影响研究 -会计学专业

摘要

随着经济全球化和市场竞争加剧，企业并购成为实现资源优化配置和战略扩张的重要手段，而会计信息质量作为衡量企业财务透明度与决策有用性的关键指标，对并购绩效具有深远影响。本研究以2010年至2022年间中国A股上市公司为样本，基于信号传递理论和信息不对称理论，采用多元回归分析方法，探讨会计信息质量对企业并购绩效的影响机制，并进一步检验了信息环境调节效应的作用。研究表明，较高的会计信息质量能够显著提升企业并购绩效，主要通过降低信息不对称程度、增强投资者信心以及优化资源配置实现；同时，外部审计质量和内部控制有效性在这一关系中起到正向调节作用。本研究的创新点在于将会计信息质量与并购绩效的关联置于动态信息环境中考察，并引入中介变量和调节变量进行深入剖析，从而丰富了会计信息质量的经济后果研究。此外，研究结果为企业改善信息披露水平、优化并购决策提供了实践指导，也为监管机构完善资本市场信息披露制度提供了理论依据。

关键词：会计信息质量企业并购绩效信息不对称

Abstract

With the deepening of economic globalization and intensifying market competition, corporate mergers and acquisitions (M) have become crucial strategies for achieving optimal resource allocation and strategic expansion. As a key indicator of financial transparency and decision-usefulness, accounting information quality exerts profound influences on M performance. This study examines Chinese A-share listed companies from 2010 to 2022 as a sample, drawing on signaling theory and information asymmetry theory, and employs multiple regression analysis to explore the impact mechanism of accounting information quality on M performance while further testing the moderating effect of the information environment. The findings indicate that higher accounting information quality significantly enhances M performance, primarily by reducing information asymmetry, strengthening investor confidence, and optimizing resource allocation. Moreover, external audit quality and internal control effectiveness play positive moderating roles in this relationship. The novelty of this research lies in its examination of the association between accounting information quality and M performance within a dynamic information environment, incorporating mediating variables and moderating variables for in-depth analysis, thereby enriching the understanding of the economic consequences of accounting information quality. Additionally, the results provide practical guidance for enterprises to improve their disclosure levels and optimize M decisions, as well as offer theoretical support for regulatory bodies to refine capital market disclosure systems.

Keyword:Accounting Information Quality Corporate Merger And Acquisition Performance Information Asymmetry

1绪论 1

1.1研究背景与意义 1

1.2国内外研究现状综述 1

1.3研究方法与技术路线 2

2会计信息质量的衡量与特征分析 2

2.1会计信息质量的核心维度 2

2.2会计信息质量的衡量方法 3

2.3不同类型企业会计信息质量差异 3

3并购绩效的影响因素及机制分析 3

3.1企业并购绩效的衡量指标 4

3.2会计信息质量对并购决策的作用 4