会计信息披露及时性的信息含量分析——基于2002—2004年中国上市公司年报数据的实证研究

“及时性”是一项重要的会计信息质量特征,一直以来是会计领域研究的重要范畴。本文依据中国深沪两市上市公司2002—2004年年报数据,以上市公司年报时滞作为及时性的替代变量,对中国上市公司会计信息披露及时性的信息含量问题进行实证分析。研究发现:早披露年报公司的市场反应显著强于晚披露公司,从而得出了及时性具有信息含量的肯定结论。

Analysis on Information Content of Timeliness of Accounting Information Disclosure——Empirical Research Based on Annual Report Data of listed companies from 2002 to 2004

As an important accounting information quality characteristic,timeliness has always been an important research category in accounting field.Based on the annual report data of companies listed at Shenzhen and Shanghai Stock Exchanges from 2002 to 2004,this paper adopts the lag as the replacement variable for timeliness of annual report,and conducts empirical analysis on the information content of timeliness of accounting information disclosure.This paper finds out that the earlier annual report is disclosed,the apparently stronger market reaction appears,and subsequently concludes that timeliness has information content.