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1.
一、财务分析在商业银行经营管理中的重要地位商业银行财务分析是对财务原始数据及资料的分析判断,也是对银行经营活动及财务成果的总结、评价和预测。高质量的财务分析能将直观的报表数据转换为对经营管理层决策有用的信息,减少决策的不确定性,起到财务参谋助手作用。通过对日常经营活动的分析,可以揭示行内经营管理的态势以及存在的主要问题,挖掘潜力,提高银行经营管理水平。作为商业银行内重要会计信息及经营信息披露的主要渠道、对外财务会计报告的前身,其现实意义也是非常深远的。二、财务分析的一般方法(一)确立分析主体,明确分析目标…  相似文献   

2.
会计信息质量要求是对企业财务报告中所提供会计信息质量的基本要求,是使财务报告中所提供会计信息对投资者、使用者决策有用应具备的基本特征。然而,在现行的《事业单位会计准则》下,会计信息质量失真的情况比较严重,不仅不能如实反映资产、负债、净资产的实际情况,也不能反映收入与支出的配比及收益情况。在这样的会计信息质量的影响下,事业单位潜在的财务风险及支出压力不能够被及时识别及防范,阻碍了事业单位市场化体制的进程。因此,我们有必要共同探讨这个话题,通过转换事业单位会计基础提高会计信息质量,使事业单位的财务信息能够真实反映会计要素的实际情况及预决算执行情况,为决策提供有用信息。  相似文献   

3.
会计信息质量要求是对企业财务报告中所提供会计信息质量的基本要求,是使财务报告中所提供会计信息对投资者、使用者决策有用应具备的基本特征。然而,在现行的《事业单位会计准则》下,会计信息质量失真的情况比较严重,不仅不能如实反映资产、负债、净资产的实际情况,也不能反映收入与支出的配比及收益情况。在这样的会计信息质量的影响下,事业单位潜在的财务风险及支出压力不能够被及时识别及防范,阻碍了事业单位市场化体制的进程。因此,我们有必要共同探讨这个话题,通过转换事业单位会计基础提高会计信息质量,使事业单位的财务信息能够真实反映会计要素的实际情况及预决算执行情况,为决策提供有用信息。  相似文献   

4.
会计信息能够准确客观的体现出企业的财务情况、经营成果和资金变动状况,是对会计核算过程进行记录的有效载体。会计信息能够给企业管理者带来非常重要的财务信息支持,确保企业管理者能够做出科学的决策,对外来说会计信息属于国家政府部门优化配置社会资源,确保社会经济持续健康发展的主要依据。本文主要分析了影响会计信息质量的几个因素,提出了促进企业会计信息质量提升的对策。  相似文献   

5.
资本市场中的会计改革已经证实,宏观制度因素能够影响资本市场中的财务信息供求。在公共领域,学者们发现宏观层面的制度变化也对政府会计信息的供求机制产生影响。政治问责形式根据制度环境变迁,从而改变政府会计信息供求关系,引起政府会计改革,但将政治问责与财务信息供求联系起来的研究却屈指可数。论文从政治问责视角切入研究我国政府财务信息供求问题,从理论上探讨了政治问责与信息供求机制的内在关系;较为全面、系统地梳理了我国政治问责与政府财务信息供求的历史与现状;从我国目前的实际情况出发,结合具体案例进行论证,提出了相关的政府会计信息披露的政策建议。。  相似文献   

6.
史小玲 《时代金融》2012,(15):24-25
信息在会计及财务上具有非常重要的作用。会计信息透明度是一个描述会计信息质量的更全面、更综合的概念,包含了被披露的会计信息和财务报告的披露行为。会计信息透明度影响了会计信息的不确定性,从而影响了信息在预测未来现金流量中的作用,进而影响财务预测风险。最终会计信息对财务预测风险的影响会导致对企业权益资本的影响。  相似文献   

7.
史小玲 《云南金融》2012,(5X):24-25
信息在会计及财务上具有非常重要的作用。会计信息透明度是一个描述会计信息质量的更全面、更综合的概念,包含了被披露的会计信息和财务报告的披露行为。会计信息透明度影响了会计信息的不确定性,从而影响了信息在预测未来现金流量中的作用,进而影响财务预测风险。最终会计信息对财务预测风险的影响会导致对企业权益资本的影响。  相似文献   

8.
自"税收价值和信息论及税务资信"等概念提出以来,如何运用它分析财务金融会计信息,防止财务造假,减少金融风险和信息不对称等问题,受到多方面的关注。兹从税收与财务金融会计信息角度,简要介绍如下:1.税收价格与价值。税收是市场各方关系的交集,是国家对财富的分配,是公民因为公用品而向国家付出的价格或贡献,这一价格同时也体现其价值——包括绝对价值、相对价值、增值价值及信息价值等。2.税收数据与计税会计数据之间的函数与反函数关系,即"税收——兑——财务"关系。3.税务资信与会计信息。以上述关系为基础,建立并分析——"与税收相应的财务金融会计信息"等,以防止财务造假,减少金融风险和信息不对称等问题。  相似文献   

9.
在知识经济环境下,会计信息使用者对会计信息披露不单是关注表内财务信息,更加关注知识资源信息、社会责任信息、预测性、前瞻性信息等非财务信息的披露,为了适应信息使用者进行经济决策的需要,广泛的披露非财务信息将是必然的。  相似文献   

10.
会计信息是我国各大商业银行在进行相关金融投资决策时的重要依据,对于大部分银行管理人员,真实的的会计信息是相关工作开始前必须要了解与掌握的重要信息,但是在实际情况中,我国各大银行普遍存在着会计信息失真的情况,这就大大加剧了我国银行进行投资行为时可能产生的金融风险,不利于我国银行业的健康持续发展.因此,我们必须深刻认识到银行相关会计信息失真所造成的金融风险与造成我国银行会计信息失真现象产生的原因以及相应解决措施.  相似文献   

11.
Institutional differences between countries result in additional information risks between borrowers and lenders in cross‐border private loans. This study examines the effect of these information risks on the structure of optimal debt contracts in international (cross‐border) versus domestic private debt markets. Using mandatory IFRS adoption as an indicator for institutional changes that reduced differences between countries, I compare attributes of international versus domestic loans before and after IFRS adoption. I find that, in the pre‐IFRS period, international loans are associated with a higher credit spread, a weaker relationship between the bank and the borrower, a more diffuse loan syndicate, and less reliance on accounting‐based covenants than domestic loans. These results are consistent with incremental information risks in international debt markets that make it more costly for lenders to screen and monitor borrower credit quality, resulting in a more arm's‐length relationship between borrowers and lenders. Many of these associations attenuate after IFRS adoption, suggesting that the pre‐IFRS differences in contract terms are driven by incremental information risks related to institutional differences between countries. My findings imply that incremental information risks result in a different optimal contract in international debt contracts compared to domestic debt contracts.  相似文献   

12.
This study tests the simultaneous impact of observed characteristics and private information on debt term contracts in a multi‐period setting, using a dataset of 12,666 credit approvals by one major Portuguese commercial bank during 2007–2010. The main results show that borrowers with good credit scores that know they have a high probability of success and are unlikely to default are more willing to pledge collateral in return for a lower interest rate premium (IRP). Furthermore, lenders tailor the specific terms of the contract, increasing both collateral requirements and the IRP from observed risk, for borrowers operating in riskier industries and with less credit availability. The results are robust to controls for joint debt terms negotiation and the degree of collateralization offered by the borrower.  相似文献   

13.
Using a large sample of convertible and straight debt issues in the public, 144A, and bank loan markets from 1991 to 2004, we find that the 144A market has risen largely at the expense of the nonshelf public market, the overwhelming majority of the 144A issues are subsequently registered, and straight debt issuers with the highest credit quality and transparency tend to use the shelf public market. Our findings suggest that firms’ preference for speed of issuance drives the growth of the 144A market, and banks and qualified institutional buyers have advantages over public lenders in handling credit risk and information asymmetry.  相似文献   

14.
This paper investigates the pricing of bank loans relative to capital market debt. The analysis uses a novel sample of loans matched with bond spreads from the same firm on the same date. After accounting for seniority, lenders earn a large premium relative to the bond-implied credit spread. In a sample of secured term loans to noninvestment-grade firms, the average premium is 140 to 170 bps or about half of the all-in-drawn spread. This is the first direct evidence of firms' willingness to pay for bank credit and raises questions about the nature of competition in the loan market.  相似文献   

15.
本文从静态和动态两个层面研究了会计信息的银行债务契约有用性。实证研究发现,上市公司基于会计信息的违约风险越大,银行信用借款比例越低;盈余质量越差则会显著降低违约风险与信用借款之间的关系;而在区分了长短期信用借款后,上述关系仅存在于短期信用借款之中。进一步研究发现,银企关系的好坏会显著影响长期信用借款的比例。这表明会计信息能降低银行债务契约决策中的信息不对称,但其有用性却受到盈余质量和债务期限的影响。  相似文献   

16.
We show that collateral plays an important role in the design of debt contracts, the provision of credit, and the incentives of lenders to monitor borrowers. Using a unique data set from a large bank containing timely assessments of collateral values, we find that the bank responded to a legal reform that exogenously reduced collateral values by increasing interest rates, tightening credit limits, and reducing the intensity of its monitoring of borrowers and collateral, spurring borrower delinquency on outstanding claims. We thus explain why banks are senior lenders and quantify the value of claimant priority.  相似文献   

17.
We investigate the role played by the reputation of lead arrangers of syndicated loans in mitigating information asymmetries between borrowers and lenders. We hypothesize that syndications by more reputable arrangers are indicative of higher borrower quality at loan inception and more rigorous monitoring during the term of the loan. We investigate whether borrowers with more reputable lead arrangers realize superior performance subsequent to loan origination relative to borrowers with less reputable arrangers. We further examine whether certification by high‐reputation lead banks extends to the quality of borrowers’ reported accounting numbers. Controlling for endogenous matching of borrowers and lead banks, we find that higher bank reputation is associated with higher profitability and credit quality in the three years subsequent to loan initiation. We also show that bank reputation is associated with long‐run sustainability of earnings via higher earnings persistence, and debt contracting value of accounting via a stronger connection between pre‐loan profitability and future credit quality. We further document that the enhanced earnings sustainability associated with higher reputation lead banks reflects both superior fundamentals and accruals more closely linked with future cash flows.  相似文献   

18.
This study examines whether financial statement comparability (comparability) reduces credit risk and lowers the cost of debt. We hypothesize and document that higher comparability reduces information asymmetry and noise in debt contracting and makes monitoring of managerial activities easier, which reduces the cost of debt. However, the effect of comparability on the cost of debt for state-owned enterprises (SOEs) is insignificant. The results also suggest that competitive pressure and audit quality complement the relationship between comparability and the cost of debt. Our findings remain robust after controlling for endogeneity and in numerous empirical specifications. Overall, our results indicate that greater comparability improves credit decisions of the lenders and also benefits borrowers by reducing the financing cost.  相似文献   

19.
Building on contract theory, we argue that financial covenants control the conflicts of interest between lenders and borrowers via two different mechanisms. Capital covenants control agency problems by aligning debt holder–shareholder interests. Performance covenants serve as trip wires that limit agency problems via the transfer of control to lenders in states where the value of their claim is at risk. Companies trade off these mechanisms. Capital covenants impose costly restrictions on the capital structure, while performance covenants require contractible accounting information to be available. Consistent with these arguments, we find that the use of performance covenants relative to capital covenants is positively associated with (1) the financial constraints of the borrower, (2) the extent to which accounting information portrays credit risk, (3) the likelihood of contract renegotiation, and (4) the presence of contractual restrictions on managerial actions. Our findings suggest that accounting‐based covenants can improve contracting efficiency in two different ways.  相似文献   

20.
Recent advances in asset pricing—the reduced-form approach to pricing risky debt and derivatives—are used to quantitatively evaluate several proposals for mandatory bank issue of subordinated debt. We find that credit spreads on both fixed- and floating-rate subordinated debt provide relatively clean signals of bank risk and are not unduly influenced by nonrisk factors. Fixed-rate debt with a put is unacceptable, but making the putable debt floating resolves most problems. Our approach also helps to clarify several different notions of “bank risk.”  相似文献   

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