分析师现金流预测如何影响应计异象?

›› 2018, Vol. 30 ›› Issue (1): 154-165.

分析师现金流预测如何影响应计异象?

罗乐¹, 李超凡¹, 王生年²

1. 华中科技大学管理学院, 武汉 430074;
2. 石河子大学经济与管理学院, 石河子 832003

收稿日期:2017-04-25 出版日期:2018-01-28 发布日期:2018-01-24
通讯作者: 王生年(通讯作者),石河子大学经济与管理学院教授,博士生导师,博士。
作者简介:罗乐,华中科技大学管理学院副教授,博士生导师,博士;李超凡,华中科技大学管理学院博士研究生。
基金资助:
国家自然科学基金项目（71562029）。

How do Analysts' Cash Flow Forecasts Influence Accrual Mispricing

Luo Le¹, Li Chaofan¹, Wang Shengnian²

1. School of Management, Huazhong University of Science & Technology, Wuhan 430074;
2. School of Economics and Management, Shihezi University, Shihezi 832003

Received:2017-04-25 Online:2018-01-28 Published:2018-01-24

摘要/Abstract

摘要：

本文以2007-2015年间深圳交易所A股上市公司为样本，探讨了分析师现金流预测对应计异象的影响。实证检验表明，分析师现金流预测能有效缓解应计异象；分析师现金流预测与会计信息质量呈竞争关系；本地分析师跟进促进了现金流预测对应计异象的缓解作用。综上所述，我们认为分析师现金流预测主要通过监督效应缓解应计异象。

关键词: 分析师, 现金流预测, 监督, 应计异象

Abstract:

Based on the companies listed in Shenzhen Stock Exchange during the period from 2007 to 2015, this paper explores the causal effect of analysts' cash flow forecasts on accrual mispricing. The empirical evidence indicates that earnings and cash flow forecast firms have less accrual mispricing compared to earnings forecast firms; analyst cash flow forecasts compete with the quality of accounting disclosure; the coverage of local analysts facilitates the cash flow forecasts' mitigation effect towards accrual mispricing. These findings suggest that the analysts' cash flow forecasts primarily alleviate accruals mispricing through monitoring effects.

Key words: analysts, analysts' cash flow forecasts, monitoring, accrual mispricing

罗乐, 李超凡, 王生年. 分析师现金流预测如何影响应计异象?[J]. , 2018, 30(1): 154-165.

Luo Le, Li Chaofan, Wang Shengnian. How do Analysts' Cash Flow Forecasts Influence Accrual Mispricing[J]. , 2018, 30(1): 154-165.

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