社会信任与收入平滑

IF 3.1 3区 管理学 Q2 BUSINESS, FINANCE
Hui Dong Kim, Mahsa Behnamrad, Jason Gwanhee Kim, Yong Gyu Lee
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引用次数: 0

摘要

本文研究了社会信任对管理者与外部投资者之间信息沟通的影响,重点研究了收益平滑作为一种沟通渠道。通过一个大型跨国样本,我们发现,在信任度较高的国家,公司不太可能使用收入平滑来表明他们的私人信息(“信息平滑”)。这一发现表明,社会信任减弱了投资者对道德风险的关注,减少了他们对企业私人信息的需求,而管理者则通过降低信息平滑程度来应对这种信息需求的变化。我们还发现,在正规制度较强的国家,社会信任对信息平滑的负面影响不那么明显,这表明信任可以替代正规制度。总体而言,本研究增强了我们对社会信任对各种形式的信息沟通工具的不同影响的理解,以及世界范围内收入平滑实践的信息方面的差异。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Societal Trust and Income Smoothing

This paper investigates the effect of societal trust on information communication between managers and outside investors, focusing on income smoothing as a communication channel. Using a large cross-country sample, we find that firms in more trusting countries are less likely to use income smoothing to signal their private information (‘informational smoothing’). This finding suggests that societal trust attenuates investors’ concern of moral hazard and diminishes their demand for firms’ private information, while managers respond to this change in information demand by reducing the extent of informational smoothing. We also find that the negative impact of societal trust on informational smoothing is less pronounced in countries with stronger formal institutions, indicating that trust serves as a substitute for formal institutions. Overall, this study enhances our understanding of the different impacts of societal trust on various forms of information communication tools and the variations in the informational aspects of income smoothing practices worldwide.

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来源期刊
Australian Accounting Review
Australian Accounting Review BUSINESS, FINANCE-
CiteScore
6.30
自引率
17.60%
发文量
31
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