Research On The Influence Of Management Overconfidence On The Comparability Of Accounting Information

The comparability of accounting information is a very important feature of accounting information and an indispensable component of the quality system of accounting information.However,for a long time,due to the inconsistency of accounting standards and the unreasonable measurement method of accounting information,the research on the comparability of accounting information is in a relatively backward state.With the promulgation of a series of international accounting standards and the direct measurement method of accounting information comparability,domestic and foreign scholars have begun to increase the research on the comparability of accounting information.At the same time,management overconfidence has become more and more important as a more mature theoretical concept in the field of behavioral finance.It has been found that the irrational cognition of management overconfidence can affect the accounting information quality and financial and financial decisionmaking of enterprises..This paper introduces the theoretical concept of management over-confidence in the financial field,and studies its impact on the comparability of accounting information.On the one hand,it can further enrich the relevant research on the influencing factors of accounting information comparability;on the other hand,it can extend the understanding of the overconfidence economic consequences of management from the perspective of accounting quality characteristics.This paper first selects the empirical data of A-share listed companies in Shanghai and Shenzhen stock markets from 2011 to 2017 as a sample,adopts the research method combining normative research and empirical research,and draws on the existing model that can directly measure the comparability of accounting information.Comparable value of accounting information between companies,and the change in management shareholding and the relative salary of executives as the measure of management's overconfidence.Secondly,design research analysis model,empirically test the relationship between management overconfidence and accounting information comparability;in addition,combine and consider China's special institutional background,take property as a regulatory variable,and further test the nature of different property rights to management The degree of influence of overconfidence and the comparability of accounting information.The specific conclusions are as follows: First,management overconfidence is significantly positively correlated with accounting information comparability;second,different property rights have different effects on management overconfidence and accounting information comparability,and other conditions remain unchanged.The overconfidence of non-state-owned enterprise management has a stronger impact on the comparability of accounting information than that of state-owned enterprises.At the same time,in order to verify the robustness and rationality of the hypothesis,a robustness test is carried out,and the test results also support the above conclusions.Based on the above conclusions,it puts forward some policy inspirations that objectively recognize and evaluate management's overconfidence,pay attention to the comparability of accounting information and improve the supervision of property rights system.