Construct Validity in Accruals Quality Research
系统评估了应计质量衡量指标的有效性，通过理论建模和数值模拟发现所有指标均至少未能满足一项效度标准，为现有研究提供了新解释，并指导未来研究中的指标选择和结果解读。
ABSTRACT A large body of empirical research in accounting investigates the causes and consequences of accruals quality, reaching numerous influential conclusions. Yet little work has been done to systematically evaluate the validity of the underlying measures of accruals quality. We evaluate these measures using three criteria: (1) Is the measure unaffected by the underlying economic determinants of accruals? (2) Does the measure consistently reflect errors in accruals? (3) Does the measure facilitate tests with sufficient power to detect plausible variation in accrual errors? Using a combination of theoretical modeling and numerical simulations, we show that all measures fail at least one of these criteria. Our evaluation provides new interpretations of existing research and guides the choice of measures and the interpretation of results in future research. Data Availability: Data are available from the public sources identified in the paper. JEL Classifications: M41; C12.