会计信息披露与资本市场配置效率的实验研究

文章基于会计管制的角度将会计信息分为强制性披露的部分和自愿性披露的部分,采用实验研究的方法,在一个相对"干净"的环境中寻找会计信息披露影响资本市场配置效率的证据。研究结论表明,强制性披露的会计信息质量与资本市场配置效率正相关,且这种正相关性在具有较高自愿性披露会计信息质量的公司中更为明显。

Experimental Research on Accounting Information Disclosure and Allocative Efficiency of Capital Market

Based on the perspective of accounting regulation,this paper classifies accounting information into mandatory disclosure and voluntary disclosure.By using experimental research method,it finds the evidence that accounting information affects the allocative efficiency of capital market in a relatively clean environment.The study conclusions show that accounting information quality of mandatory disclosure is positively associated with allocative efficiency of capital market,and this positive relationship is more significant in companies with high quality of accounting information voluntary disclosure.