会计信息质量对股价崩盘风险的影响研究

本文以2017-2021年中国上市公司为研究样本，探究会计信息质量对公司股价崩盘风险的影响。研究发现会计信息质量越高，公司所面临的股价崩盘风险就越低。主要通过降低公司内部人与外部投资者之间的信息不对称程度，缓解了管理者对外隐瞒坏消息的倾向降低股价泡沫发生的可能性。从管理者代理的视角出发，发现管理费用越高，会计信息质量对股价崩盘风险的抑制作用越显著。

Study on the Influence of Accounting Information Quality on Stock Price Crash Risk

Takeing Chinese listed companies from 2017 to 2021 as research samples,the impact of accounting information quality on the company''s stock price crash risk was explored. It is found that the higher the quality of accounting information, the lower the risk of stock price collapse faced by the company. Mainly by reducing the degree of information asymmetry between company insiders and external investors, it alleviates the tendency of managers to hide bad news and reduces the possibility of stock price bubbles. From the perspective of management agent, it is found that the higher the management cost is, the more significant the inhibition effect of accounting information quality on stock price crash risk is.