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新闻发言人作为上市公司的信息发布渠道,在保护利益相关者的知情权、提升信息透明度等方面发挥着重要作用。文章手工收集了深市A股上市公司2001-2010年间新闻发言人数据,以深交所的信息披露考评数据作为信息透明度的替代变量,实证检验了新闻发言人对于财务分析师跟踪及信息透明度的影响。研究结果表明,新闻发言人显著增加了财务分析师跟踪的概率和频率;进一步的分析发现新闻发言人对于提升信息透明度起到了显著的促进作用,但当控制了财务分析师跟踪这一因素后,新闻发言人对于信息透明度的正面影响明显下降,上述结果表明财务分析师是新闻发言人影响信息透明度的重要传导机制。
Abstract：As a channel of information release in listed companies,the spokesman plays an important role in some fields,such as protection of the stakeholder's information rights and improvements of information transparency.This paper manually collects spokesman data of A-Share companies in Shenzhen Stock Exchange from 2001 to 2010,uses disclosure evaluation of Shenzhen Stock Exchange as substitution variable for information transparency,and empirically tests impacts of spokesman on financial analyst coverage and information transparency.Research results show that spokesman enhances probability and frequency of financial analyst coverage significantly;further analysis shows that spokesman has a remarkable positive impact on information transparency,but when the "financial analyst coverage" factor is controlled,the positive effect of spokesman decreases obviously,the research outcome above indicates that financial analyst is a crucial transmission mechanism for spokesman influence on the information transparency.
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基本信息:
DOI：10.14134/j.cnki.cn33-1336/f.2012.11.006
中图分类号:F224;F832.51;F233
引用信息:
[1]周泽将,杜兴强.新闻发言人、财务分析师跟踪与信息透明度[J].商业经济与管理,2012,No.253(11):82-90.DOI:10.14134/j.cnki.cn33-1336/f.2012.11.006.
基金信息:
国家自然科学基金“制度环境、政治联系、会计信息质量与审计行为”(71072053);; 福建省社会科学重点项目“政治联系、过度投资与公司价值”(2010A012);; 安徽省教育厅人文社会科学研究重点项目“税收负担对上市公司会计行为的影响研究”(SK2012A014);; 安徽大学科研建设经费(02303203)
2012-11-15
2012-11-15