摘要
随着经济全球化和市场竞争的加剧，企业如何通过会计政策选择实现价值最大化成为理论界与实务界关注的核心议题。本研究以会计政策选择为切入点，探讨其对企业价值的影响机制，并提出优化策略。研究基于 signaling theory 和 agency theory，选取2015年至2022年间中国A股上市公司为样本，运用多元回归分析方法，考察不同会计政策选择对财务绩效、市场反应及长期价值创造的作用。结果表明，合理选择会计政策能够有效传递企业信息质量，降低信息不对称，从而提升市场估值；同时，过度激进或保守的会计政策可能引发代理冲突，削弱企业价值。本研究创新性地引入动态视角，将宏观经济环境与行业特征纳入分析框架，揭示了会计政策选择效果的异质性。此外，研究还开发了一套综合评价指标体系，为企业决策提供实践指导。总体而言，本研究不仅丰富了会计政策选择领域的理论内涵，还为管理层制定战略性财务政策提供了实证依据，具有重要的学术价值与现实意义。
关键词：会计政策选择；企业价值；信息不对称；代理冲突；动态视角
Abstract
With the deepening of economic globalization and intensifying market competition, how firms can achieve value maximization through the selection of accounting policies has become a core issue of concern for both academia and practice. This study investigates the impact mechanism of accounting policy choices on firm value and proposes optimization strategies by adopting signaling theory and agency theory. Using Chinese A-share listed companies from 2015 to 2022 as a sample, the study employs multiple regression analysis to examine the effects of different accounting policy choices on financial performance, market reactions, and long-term value creation. The findings indicate that appropriate accounting policy selection can effectively convey the quality of corporate information, reduce information asymmetry, and thereby enhance market valuation. However, overly aggressive or conservative accounting policies may lead to agency conflicts, which in turn weaken firm value. Innovatively, this study introduces a dynamic perspective by incorporating macroeconomic environments and industry characteristics into the analytical fr amework, revealing the heterogeneity of the effectiveness of accounting policy choices. Additionally, a comprehensive evaluation index system is developed to provide practical guidance for corporate decision-making. Overall, this research not only enriches the theoretical implications of accounting policy selection but also offers empirical evidence for management in formulating strategic financial policies, contributing significant academic and practical significance.
Keywords：Accounting Policy Choice; Firm Value; Information Asymmetry; Agency Conflict; Dynamic Perspective
目 录
摘要 I
Abstract II
一、绪论 1
(一) 会计政策选择与企业价值最大化的研究背景 1
(二) 国内外研究现状与理论基础 1
(三) 研究方法与技术路线 2
二、会计政策选择对企业价值的影响机制 2
(一) 会计政策选择的定义与分类 2
(二) 会计政策选择与企业价值的关系分析 3
(三) 影响会计政策选择的主要因素 3
三、企业价值最大化的目标与实现路径 4
(一) 企业价值最大化的内涵与意义 4
(二) 会计政策选择在企业价值最大化中的作用 4
(三) 实现企业价值最大化的关键策略 5
四、会计政策选择优化与企业价值提升的实证分析 6
(一) 实证研究的设计与数据来源 6
(二) 会计政策选择对企业价值影响的实证检验 6
(三) 提升企业价值的具体策略建议 7
结 论 8
参考文献 9
