Accounting information transparency and corporate capital turnover: the role of trade credit

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-06-01 DOI:10.1016/j.frl.2025.107693

Yang Sun , Xiaoling Huang

引用次数: 0

Abstract

Exploiting a research sample comprising listed enterprises in China from 2014 to 2024, we explore the far-reaching impacts of accounting information transparency on corporate capital turnover ratio. The findings reveal that accounting information transparency can greatly enhance firm’s capital turnover and a key economic mechanism underlying this relationship is trade credit. The positive effect of accounting information transparency is more evident for non-state-owned firms and younger firms. These results remain robust after dealing with various sensitivity and endogeneity tests. This paper deepens our understanding of the importance of accounting information transparency for improving firm capital utilization efficiency.

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会计信息透明度与企业资金周转：贸易信用的作用

本文以2014 - 2024年中国上市企业为研究样本，探讨会计信息透明度对企业资本周转率的深远影响。研究发现，会计信息透明可以显著提高企业的资本周转率，而这一关系背后的关键经济机制是贸易信用。会计信息透明度的积极作用在非国有企业和较年轻的企业中更为明显。在处理各种敏感性和内生性测试后，这些结果仍然是稳健的。本文加深了我们对会计信息透明度对提高企业资金利用效率重要性的认识。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance