货币政策不确定性对会计信息质量的影响研究*
THE IMPACT OF MONETARY POLICY UNCERTAINTY ON ACCOUNTING INFORMATION QUALITY

摘要 本文探讨了货币政策不确定性对微观企业会计信息质量的影响。本文研究发现，货币政策不确定性能够促使企业提高会计信息质量，且该现象在盈利的公司中更为显著。进一步研究发现，高质量的会计信息能够缓解货币政策不确定性对上市公司信贷融资和投资效率的不利影响。本文的研究表明，加强货币政策的平稳性与一致性对于促进实体经济发展至关重要，同时，提高会计信息质量能够显著增强企业抵御货币政策不确定性带来的不良影响。
Abstract： This paper investigates the impact of monetary policy uncertainty on accounting information quality. We find that monetary policy uncertainty can lead to high accounting information quality, and this is more significant in the firms with positive earnings. Furthermore, we find that high accounting information quality can mitigate the negative consequences of monetary policy uncertainty. Our study not only implies that it is important to increase the smoothness and consistency of monetary policy, but also the increasing accounting information quality could have positive effect on the defense of the volatility of macro economy and the allocation efficiency.