Conservative Accounting, IFRS Convergence and Cash Dividend Payments: Evidence from China
研究保守会计如何通过影响股利政策缓解债权人与股东冲突，以及中国向IFRS趋同如何削弱这一治理作用。
ABSTRACT We investigate the governance role of conservative accounting in mitigating the creditor–stockholder conflict by affecting firms’ dividend policies, and how the convergence to International Financial Reporting Standards (IFRS) affects the governance role of conservative accounting as it relates to dividend policy. We analyze data on Chinese listed firms from 2000 through 2011. The use of conservative accounting reduced cash dividend payouts, thereby playing a governance role by mitigating the firm's creditor–stockholder agency conflict. However, China's convergence to IFRS reduced the governance role of conservative accounting on dividend policy by reducing the accounting conservatism of listed firms in China.