Evidence of Chinese Accounting Development

 Evidence of Chinese Accounting Development
[Abstract] This paper briefly reviews the empirical accounting of the development process. In clarifying a number of conceptual problems, discuss the positive impact of the accounting development in China a significant factor. Include: relevant disciplines development, information processing and database business, the traditional theory of the crisis, capital market development, drawing on international practice. The third part presents a complete system of graduate education, teacher evaluation system and scientific titles reward system and so on. fourth part Positive Accounting own use of technology and the use of background issues, analysis of how to promote the further development of empirical accounting.
in the late eighties, the Chinese accounting profession began to introduce evidence introduced accounting .1994 popular abroad, since the real use of empirical method of accounting research papers appear in the major academic journals. At the same time, people will be positive accounting and standardize the accounting for a multi-angle comparison, the main purpose of this Introduction. until 1997 years ago, the number of positive accounting papers is very limited, the study also focused on areas of the efficient market hypothesis since the test �� .1997, positive accounting in China has made substantial development. research greatly expand ��, published in academic journals greatly increased the proportion of empirical papers. Therefore, the development of positive accounting sector in 1997 can be divided into two stages. This division is based are: At best, the 1997 party Congress, on the economic life had a major impact; in speaking, the development of China's securities market is divided into stages of this standard, while the positive development of accounting and the close relationship between development of securities markets; small speaking, Accounting Research, To standardize the accounting research evidence, but also help improve the system of accounting theory, it helps to strengthen international academic exchanges. Basically, you can better serve China's reform and opening up services. the core of this paper is to answer how to promote our preliminary evidence Accounting for further development. For this reason, discussion of the development of a number of factors of Positive Accounting, the current restrictions on the development of Positive Accounting System, and the empirical use of technology and the use of accounting background.
a need to clarify a few conceptual problems
as the main representative of Positive Accounting, Watts and Zimmerman (Watts and Zimmerman) will be positive accounting known as the Zimmerman, 1986). Ge Professor Shu, phenomena and predict accounting practice of accounting is to regulate the accounting of symmetry. If it is a theory, should have their own views and comparing the core research areas (like accounting objective theory, theory of accounting measurement, revenue realization theory, etc.). Obviously, if it determines the positive accounting limited to study capital market research, accounting, research and other limited areas selected, only limited evidence of accounting development. to Watts and Zimmerman's famous a theory. This is mainly due to the seventies and eighties, empirical study of accounting and conclusions substantially different from the past, but also relatively concentrated. In fact, the different methods used to establish a new theory can also be used to reflect the old theory. Now a lot of empirical accounting topics can use the standardized approach to the study, there are many normative thesis can be used to study the empirical method. Thus, the empirical method of accounting is a kind of empirical research conducted by the theory. Positive Accounting and standardize the accounting of the fundamental difference is that the proposition put forward by the researchers can study the use of empirical methods, namely, whether the study can be large enough random sample of observations. In the past not the future may be able to evidence, the use of Positive Accounting is not confined to existing areas.
is a clear empirical accounting research methods, did not reduce their status, on the contrary will be conducive to its development. in some system of accounting theory monograph entitled, positive accounting theory not as a research method to prove the point, and was listed as tied with the other part of accounting theory (and often the last part.) graduate teaching in the same problems also exist. This is of course the degree of development and Positive Accounting Theory Accounting mm had not been covered For most areas, but, if accepted accounting is an empirical research method, it should be in the details to be discussed before the study commenced. of well-known accounting experts and PhD supervisor Professor Wu Shuipeng in its in the constructed system of accounting theory is the highest level of Methodology. clearly is a kind of empirical accounting research methods, but also helps to understand why the evidence in China's development of accounting and capital market development would have such a close relationship. The key The latter proposition is that accounting can be determined empirically.
2. Positive Accounting (Positive Accounting) and experience in accounting (Empirical Accounting) What is the relationship?
narrow a view that can be used as evidence of accounting experience in accounting a branch (Cheung and Xu Zongyu, 1997; Chun Cai and Zou Hong, 1999). The second point of view, 1968 by Powell and Brown (Ball & Brown)-sponsored study called the Empirical Accounting, but in 1978 Watts and Qi Mo Erman launched called Positive Accounting, the two together, the empirical accounting (Liu Feng, 2000). Accordingly, the empirical experience in accounting than accounting. distinguish between the two is intended to give the empirical (experience) will be planned in phases. We that the Hypothesis Testing?
accounting from the empirical results of the current domestic point of view, the methods used by the vast majority of hypothesis testing. But that is not the only way of accounting evidence. First, statistical hypothesis testing is the main inference methods, and descriptive statistics can also be used for positive accounting. Second, the empirical data sources accounting for the financial reports of listed companies, it can be other. such as questionnaires, simulation experiments, direct observation. Fundamentally, Positive Accounting characterized by the observed facts as the argument based on experience, but it does not mean that mathematical tools Domination CD.
Second, the development of empirical factors accounting
many scholars have the possibility of the development of Positive Accounting and the necessity too general. These discussions and more development-oriented foreign Positive Accounting. described below will focus on the reality of our country.
1.
the development of related disciplines in the theoretical basis, by the early development of Positive Accounting Efficient Market Hypothesis (EMH) and the capital asset pricing model (CAPM) of. since the eighties are empirical accounting and business theory, contract theory, control theory and so close. In addition, the calculation method, the development of mathematical statistics much earlier in empirical accounting, but also earlier than the positive economic theory. This suggests that we are engaged in empirical accounting research must first understand the relevant disciplines. If you are not satisfied with the related disciplines have higher attainments, and even a breakthrough.
accounting theory and economic theory will be compared to a phenomenon can be found. in China and the United States, accounting theory, the rise of empirical wind too late in the economic theory. by simple statistics we can see, China's significantly more than the past, the main reason is that these papers use an empirical analysis. Positive Accounting subordinate to the possibility of escape, following in the shadow of other disciplines? (eg, for the efficient market hypothesis testing, in economic circles, the financial circles there are people as well as management of the academic research. Although not the topic of the subject property caused by the war, but easy to repeat such a study is not conducive to the development of accounting.) In other words, the existence of accounting theory-based empirical accounting? these questions worth thinking . Current management accounting theory on the interest earnings may be relevant. urgent research topic of accounting academics should be more of a problem of the discipline. If, on the profit forecast, accounting standards and other issues of financial reporting.
2. information processing and database business development
both of which are closely related with the computer, can be classified as a class. information processing technology mainly refers to the collation of raw data processing, especially in the calculation of complex . Domestic commonly used software TSP, Excel, SPSS and so on. a variety of software advantages and disadvantages. TSP is a small DOS-based software, a bit old; Excel is one of the most popular office software, easy to find; SPSS powerful highly specialized.
database of business is to provide the necessary raw data. I can see from the empirical results, the majority of researchers is to collect raw data on the securities newspaper, imagine the workload of large, high cost. privileged few researchers have begun to use electronic version of the data, described as specializing in information services, have Compustat Tape and Datastream International, as detailed data for research purposes, I believe we can promote the development of accounting evidence.
The SFC has recently released the , disclosure of the annual report or website, but no earlier than the specified time disclosure web site. This requirement for data collection, research staff will have a significant impact. In addition, the site often publish preliminary order on the stock market and listed company data, Empirical accounting researchers should be concerned about.
3.
according to traditional theory, the crisis of the revolutionary theory of Kuhn's scientific paradigms, new theoretical paradigm is in crisis after the old paradigm was born. The so-called theory of crisis, is the theory supply and demand balance, especially in short supply, including the total amount of shortage and structural shortages. before and after the sixties, the U.S. standard accounting theory in guiding the formulation of accounting standards on a crisis, so with the Ball and Brown (1968), Beaver ( 1970) pioneering empirical research. of the existence of accounting theory crisis? to face the dual task of development and institutional transformation of China's economy is undoubtedly on the theory of the demand is huge. In theory the supply side, if only from the number of published papers speaking, the prosperity of accounting theory repeat itself. However, the bubble in which too many. From the formal point of view, including the duplication of research, copy, Manuscript and so on. from the contents, there are entangled in the concepts, principles and the real significance The foam, is not the subject of this lie. But through this phenomenon, we can see the existence theory of crisis, at least potentially. In recent years, we can hear from time to time lags in the reform of accounting theory criticism is also an evidence of the crisis theory. We I believe, an early crush of academic bubble, the crisis will become clear theory, will be conducive to real progress in academic.
according to economic theory, some people change because of anticipated benefits to the system, the burden may be greater than its cost, may initiate changes to become the first institutional change Action Group (Primary Action Group). paradigm change of accounting theory is the founder of Shanghai University of Finance, Xiamen University, Tsinghua University and other colleges and universities several accounting researchers. their higher academic gains mm position is very clear. a group of visionary researchers are trying to become the second Action Group (Secondary Action Group).
4.
foreign capital markets, capital market development long before the development of positive accounting. And of two almost simultaneous development. The reason is that capital market is a necessary condition for evidence of accounting development, but not sufficient condition. If the necessary conditions for the formation of foreign countries is the latest computer technology, while China is the capital market.
empirical relationship between accounting and capital markets can be summarized as: the accounting norms need for capital market guidance of accounting theory, capital market development but also create the conditions for empirical accounting research (Cheung and Xu Zongyu, 1997). first hand, A typical example is the study of accounting, Direct contact with staff and practitioners have few opportunities, and can be found on a variety of statistical yearbook is mostly macro data. Therefore, the capital market on the public disclosure of information for the development of accounting theory quite prominent influence than abroad is quite different.
5. learning from international practice
the late eighties, the rise of the Chinese accounting profession a In recent years, with the increase of foreign exchange accounting academic, research paradigm shift gradually the recognition of Chinese accounting theory. The main manifestations are: (1) some theories outside the elite to the results published in academic journals, popular abroad, have applied The empirical research paradigm mm; (2) as the authority of the Journal of Accounting, Accounting Society of China's 3) Symposium on the number of international, foreign scholars, the fruits of true multi-license of, for us to further open the horizon. (4) of Hong Kong by the mainland part of the accounting academics have theoretical training in the traditional norms and Western style empirical theory of influence, they had raised the mainland's accounting theory criticism. This criticism is very convincing. At the same time it should be noted, foreign exchange, after all, limited to a few people from international practices to promote not enough to make positive accounting popularity spread in theoretical circles.
above, are engaged in empirical accounting research has basically met the necessary conditions. If there is enough power and the right approach, researchers can study in depth understanding of the relevant disciplines and computer application technology, worked tirelessly to collect data necessary for the specification of capital markets, in the empirical accounting research. However, the problem is, things just need to have the necessary conditions for development.
Third, to promote the positive accounting development: improvement of the system
Positive Accounting in China, how to promote the further development? Dr. Lu Zhengfei that led to our financial (and accounting) basically limited to the normative study of the main reasons, first, the lack of power, the second is the lack of study conditions. research is the reality of power theory of demand and profit-driven researchers. of conditions, including empirical methods to master the required researchers and research data (Lu Zhengfei, 2000). In my opinion, to promote the positive development of the specific factors accounting can be divided into two aspects. a the external environment as the system exists, it solves the problem is to study the cultivation of the main body, or has anyone willing to engage in empirical research; Second Positive Accounting own use of technology problem, you can proceed with an analysis from the existing limitations, it addresses is willing to engage in empirical accounting research in the study were able to correctly.
relative to the cost of empirical accounting research is far higher than the norm, while the income gap has no clear, rational cost-benefit analysis for researchers, of course, will choose not to engage in empirical research ��. Thus, to promote the development of positive accounting, we must start from the institutional arrangements, in particular, is to improve the incentive mechanism to reduce the burden of researchers engaged in empirical research costs and increase revenue empirical research. < br> 1.
graduate education system in China, if the positive accounting mainly thanks to the early development of the theory of elite doctoral represented, then, is committed to its further development should be a higher penetration rate, which depends on, including Master Graduate students, including the System.
first elective system of postgraduate tutors. PhD before they apply, often the first to have contact with the instructors, many colleges and universities, graduate students mentor is also used in the manner specified . Even if some students want to understand empirical accounting, it may Toushi nowhere and look Master Instructor with qualifications as long as it is no longer in-depth academic research, the academic qualifications as a teacher with the assumption that the words reflect the level of research. This is clearly not reasonable. patchwork of thousands of words not as good as a million words sense. from research costs, the latter may be higher than the former. Positive Accounting Topics usually small, may not be able to empirical research,
2. teacher evaluation system and scientific titles
reward system both of which are concerned with the paper quality assessment system. university teachers is the most important theoretical researchers. the power of teachers engaged in scientific research (teachers are rational economic man) mainly professional title and research awards. At present, evaluation and research awards titles based primarily on the number of papers, considering the quality of the paper is limited to words, the publication level. Since the cost of research in empirical accounting research than specification, unless the awareness There is no such practice. from the accounting profession, China Accounting Society should take up responsibility. in the subject report, research awards, etc., should be gradually tilted to the empirical study.
3.
current exchange system College Teachers, Many university teachers from the school's doctoral training, it is difficult to avoid the advanced Western experience. For example, a doctoral student graduation, a number of years allowed in the school engaged in teaching and research; to a certain percentage of posts reserved for visiting scholars from around the world and the other PhD students (Cheung, and Xuzong Yu, 1997) .
4. empirical accounting research cooperative system
high cost of research, cooperation can play a research process and improve the quality of scientific research; can be academic, ; topic. Therefore, we should vigorously promote cooperation in scientific research.
5.
editing system of publication, some publications do not understand the positive accounting editorial staff, it will shut the door empirical results. Some publications in the Instructions for Authors stressed, can not be represented graphically as in words. This is clearly not conducive to empirical results published illustrations. In addition to changing the perception about the Journal, an anonymous reviewer system should be implemented.
accounting thesis now published our first garden The University, the second is the provinces (municipalities and autonomous regions) attached to the branch of the financial sector, run by Accounting Association publications and the third is organized by relevant research publications. Generally speaking, the existence of market (readers) to locate the tendency is not clear. its too pay attention to what did not take into account the results Guzhe, as readers specifically for a particular service. For example, the universal service in practical, research-based service in the academic community.
6.
system of production and research links Title review, project reporting, award of achievements, research activities for remuneration are the benefits. These benefits are mostly indirect and uncertain. but what happens when research costs are direct, realistic, and often up to the Researchers should be responsible. The reason is very popular abroad, positive accounting, data collection and low cost is certainly one of the reasons is also remuneration huge part of the reason, but perhaps more importantly, most of their research costs onto the practitioners mm funded by the company , Research issues of concern. If, on an accounting standards in favor of or negative attitude held company hopes to obtain a theoretical The disadvantages may be prejudiced, but if the participating companies and researchers enough, you can reach some sort of balance. Therefore, the theory should be encouraged to link researchers and practitioners together to promote the positive development of accounting.
four to promote the positive accounting development: improvement of the existing limitations
1997 years after the rapid development of Positive Accounting. However, careful study, can still be found there are some technical problems, especially in research with Chinese characteristics and focus on the background is not enough. < br> 1. From the structure of the paper form, to be further standardized. For example, empirical studies abroad, often in the verification of the outstanding advantages. for other researchers to facilitate the validation, the performance of both the academic rigor, but also cost savings reviewers, saving the cost of further study. In our country, I am afraid that no one has really proven the existing empirical results because it requires time and effort to re-collect data. In fact, the existing data, calculated on the basis of application of computer software validation is not very complicated. Therefore, the increase of the degree of openness rather than geese are swans, will be conducive to positive accounting development. In another example, Some empirical results at the end the lack of guidelines for further research, but also to be improved.
2. in the use of empirical methods in all areas, our scholars are still not enough skill to master the problem. Some empirical studies confirm that the cold clothes to Tim, case conditions are not sufficient to establish model, derived conclusions; Even worse, some of the low-level survey also grandly known as the conducted a survey (Zhaode Wu, 2000). these problems, the reasons for opportunism and utilitarianism of the system should be improved by the above to solve, and technical issues will need to further improve our understanding of the empirical method of accounting.
3. In the background on the prevalence of positive accounting of the problem of insufficient concern with Chinese characteristics. reflected in the sample collection, research topics, the assumption, the conclusion of and so on. If the first two addressed the ;, the problem with Chinese characteristics, belong to a deeper level, discussed before, the development of the necessary conditions of Positive Accounting, the final form of the capital market, the greatest influence may also be capital market. At present, there are still a lot of Chinese capital market is not mature enough, and standardized factor, accounting research will inevitably adverse effects. give it to those who have: (1) restricted circulation of state-owned shares. China A share market, share of state shares and legal person shares more than 70% market share. Although the state-owned shares can be negotiated transfer, but the sale price far below market . (2) listing eligibility to take examination and approval system, not the registration system, with options also under tight control. Hence, the competing interests with the region and distribution of results, and is difficult to reflect the industrial policy, resource allocation function to play. (3) domestic stock market is divided into A shares, B shares, along with H shares listed overseas, S shares, N shares and so on. also be issued shares of the companies failed to achieve a variety of the same shares of the same rights. (4) located in the capital market finance function, while the governance structure of listed companies did not change (Lin Yi-phase, 1999). (5) lack of capital market withdrawal mechanism. Joan source Ye Hao, Zhengbaiwen both mean China's stock market and Out of the typical.
above characteristics is the empirical impact of accounting: (1) taking into account the state-owned shares in circulation, market segmentation and other issues, the market actually a smaller scale. This makes the sample space is limited empirical research, the results of the representative weakened, abandoned true error and increase the possibility of taking false error. More specifically, the hypothesis testing in a value increase. ( 2) taking into account market approval system, exits, company restructuring and other issues, China's listed companies financial reporting credibility is questionable. to the conclusion based on evidence obtained may also be hard to believe. On the other hand , earnings management, IPO (Initial Public Offerings) behavior become a hot research topic, that is very natural. (3) of the Chinese stock market is less certain special problems abroad, has not yet attracted sufficient attention. For example, state-owned shares and the public shares between the shareholders of behavior, the operator issues related to non-monetary compensation, corporate governance structure and the quantity and quality of accounting information disclosure, the employee stock ownership and corporate performance, the effectiveness of outside directors and so on supervisors.
In addition, China's capital market there is a short history, rapid development, and other characteristics, which makes empirical research is limited in time series analysis, and cross-sectional analysis was more appropriate; also made a number of topics in different periods can be used the same method of data analysis.
Conclusion < br> This will be the development of empirical accounting is divided into two phases. in clarifying a number of conceptual problems, discuss the positive impact of the accounting development in China a significant factor. The third and fourth parts of the system were perfect and from Positive Accounting own use of technology and the use of background to the two aspects of how to promote the further development of empirical accounting. In some places, the author may be more extreme terms, and if so, is simply out of a good wish.
Note:
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