How do institutional investors influence accounting conservatism in China?

被引：4

作者：

Zhang, Dan ^{[1
]}

Ma, Shiguang ^{[2
]}

Pan, Xiaofei ^{[2
]}

机构：

[1] Beijing Univ Technol, Beijing, Peoples R China

[2] Univ Wollongong, Wollongong, NSW 2522, Australia

来源：

ACCOUNTING AND FINANCE | 2023年 / 63卷

关键词：

accounting conservatism; China; domestic mutual funds; institutional investors; QFIIs; MULTIPLE LARGE SHAREHOLDERS; SHARE STRUCTURE REFORM; CORPORATE GOVERNANCE; INFORMATION ASYMMETRY; OWNERSHIP STRUCTURE; FIRMS; STATE; PERFORMANCE; CONFLICTS; BENEFITS;

D O I：

10.1111/acfi.12994

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Using a sample of Chinese listed firms from 2003 to 2015, we find that domestic mutual funds have negative effects while qualified foreign institutional investors (QFIIs) have positive effects on firm accounting conservatism. These effects become stronger when their ownerships are closer to that of the controlling shareholder, respectively. Furthermore, these results are more pronounced when institutional investors are more able to monitor managers and compete with controlling shareholders. Our findings suggest that the influence of institutional investors on accounting conservatism in China is subject to their identities as well as the control contestability against the controlling shareholders.

引用

页码：2719 / 2754

页数：36

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