{"title":"行业披露制度对会计估计强度的影响?*","authors":"Wang Shengnian, Hou Danyang, Liu Ying","doi":"10.1111/ajfs.70009","DOIUrl":null,"url":null,"abstract":"<p>This study uses China's stock exchange disclosure guidelines in a quasi-natural experiment to build a difference-in-differences model, examining how industry-specific disclosure regulation affect accounting estimation intensity. The results show these regulations reduce intensity due to better information comparability and stricter auditor oversight. The effect is stronger for firms with weak governance, in less competitive industries, or far from regulators. Tests also find such regulation lowers capital costs. The findings have implications for refining regulatory frameworks and capital market reforms in developing economies.</p>","PeriodicalId":8570,"journal":{"name":"Asia-Pacific Journal of Financial Studies","volume":"54 4","pages":"463-497"},"PeriodicalIF":1.5000,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Does Industry-specific Disclosure Regulation Affect Accounting Estimation Intensity?*\",\"authors\":\"Wang Shengnian, Hou Danyang, Liu Ying\",\"doi\":\"10.1111/ajfs.70009\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>This study uses China's stock exchange disclosure guidelines in a quasi-natural experiment to build a difference-in-differences model, examining how industry-specific disclosure regulation affect accounting estimation intensity. The results show these regulations reduce intensity due to better information comparability and stricter auditor oversight. The effect is stronger for firms with weak governance, in less competitive industries, or far from regulators. Tests also find such regulation lowers capital costs. The findings have implications for refining regulatory frameworks and capital market reforms in developing economies.</p>\",\"PeriodicalId\":8570,\"journal\":{\"name\":\"Asia-Pacific Journal of Financial Studies\",\"volume\":\"54 4\",\"pages\":\"463-497\"},\"PeriodicalIF\":1.5000,\"publicationDate\":\"2025-06-10\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Asia-Pacific Journal of Financial Studies\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/ajfs.70009\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asia-Pacific Journal of Financial Studies","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ajfs.70009","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Does Industry-specific Disclosure Regulation Affect Accounting Estimation Intensity?*
This study uses China's stock exchange disclosure guidelines in a quasi-natural experiment to build a difference-in-differences model, examining how industry-specific disclosure regulation affect accounting estimation intensity. The results show these regulations reduce intensity due to better information comparability and stricter auditor oversight. The effect is stronger for firms with weak governance, in less competitive industries, or far from regulators. Tests also find such regulation lowers capital costs. The findings have implications for refining regulatory frameworks and capital market reforms in developing economies.