會計品質與放款合約之關係-以中國為例

Accounting quality and loan contract–Evidence from China

黃家慶(Chia-Ching Huang)

指導教授 ： 俞海琴

中原大學/商學院/國際經營與貿易研究所/碩士(2018年)

https://doi.org/10.6840/cycu201800572

摘要

本研究旨在探討會計品質對於放款合約之間的關係，我們認為企業的會計品質呈現良好的狀態時，當它進行貸款時銀行將會提供較好的放款合約。因此，我們將使用Dechow-Dichev模型來衡量會計品質，並研究其與放款合約的關係。

我們使用的數據為TEJ和DealScan資料庫，因本文將探討中國內企業的會計品質對銀行放款合約的影響，故以中國上市企業，從2000年到2016年的年資料作為研究期間。

實證結果顯示，企業會計品質的好壞，在放款合約上是有顯著差異的。會計品質較好的企業，銀行往往會提供較低的利率、較長的貸款期限，以及較高的貸款額度，且較不會被要求提供擔保品。我們也發現中國的企業與銀行之間，存在著相當嚴重的道德風險問題。以上結果也證實了，中國企業的會計品質正漸漸地受到中國的銀行重視，會計品質的議題將會成為中國銀行決定放款合約的重要因素之一。

關鍵字

會計品質 ； 利率 ； 放款合約 ； 放款金額 ； 放款長度

並列摘要

This paper uses Dechow-Dichev model to measure accounting quality and examines its relationship with loan contract.
Our univariate analysis shows firms with better accounting quality differ significantly from firms with worse accounting quality in terms of loan contracting, all-in-drawn spread, loan amounts, maturity, and collaterals. Firms with better accounting quality have lower spread, longer maturity, larger amounts, and less collateral on loan contracting than firms with worst accounting quality.
A regression of accounting quality shows firms with better accounting quality have lower spread, longer maturity, and lower probability to provide collateral than firms with worse accounting quality. Moreover, accounting quality has a significant impact on all-in-drawn spread in China. Thus, accounting quality plays an important role in the decision-making of banks in China.

並列關鍵字

Accounting quality ； Spread ； Loan contract ； Collateral ； Maturity ； Amount

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