英格兰硕士毕业论文LITERATURE REVIEW：财务报表管理者的会计选择会对组织的财务绩效产生负面影响吗？

LITERATURE REVIEW文献综述

Introduction 介绍

本文从影响企业财务绩效的三个因素入手，对代理理论和机会主义理论进行了理论阐述。接下来，会计自由裁量权将集中于其含义、两个主要分类、实际行为及其在相关研究框架中的相应影响。此外，会计自由裁量权与后续财务绩效之间的关系将被纳入财务绩效及其先前研究的介绍中。同时，对会计自由裁量权和财务绩效的关键措施进行探讨。

The literature review will start with three influencing factors for corporations’ financial performance followed by the theoretical descriptions on agency and opportunism theories in a progressive elaboration. Next, the accounting discretion will be concentrated on with the emphasis on its meanings, two main classifications, practical behaviours, their corresponding influences in respect to related frameworks in the previous research studies. Moreover, the relation between accounting discretion and subsequent financial performance will be immersed in with an introduction of financial performance and its prior studies. Meanwhile, the key measures of accounting discretion and financial performance would be explored for the following tests.

1. Introduction [100] 2
2. Influencing Factors for Financial Performance 2
2.1. Economic Factors [330] 2
2.2. Corporate Governance [381] 3
2.3. Accounting Discretion [314] 5
3. Theoretical Review 6
3.1. Agency Theory [401] 6
3.2. Information Asymmetry [536] 7
3.3. Opportunism Theory [648] 9
4. Accounting Discretion 11
4.1. Meaning [173] 11
4.2. Classification [505] 12
4.3. Practical Behaviour [596] 13
4. Influence [510] 15
4.5. Measures of Accounting Discretion [118] 17
5. The Relationship between Accounting Discretion and Financial Performance 17
5.1. Financial Performance [281] 17
5.2. List of financial performance measures [245] 18
5.3. The Relationship between Accounting Discretion and Financial Performance [1514] 19

4. Conclusion总结

To sum up, the research findings mostly comply with the previous empirical results as well as the theoretical materials. First, the research equations in this research are proved to be proper to illustrate the researched relationship. Such goodness of research model enhances the credibility of empirical outcomes in this research. Furthermore, the individual impacts of influencing factors on financial performance are focused on. The research findings reveal a negative effect of SMOOTH on financial performance, but fail to disclose the specific influences of SPES on corporation’s financial position. In addition, the corporate governance proxies are also asserted to influence financial performance. Both of the BM and PD would positively affect financial position based on their positive coefficients. Nevertheless, the incentive compensation is likely to exert distinct influences on financial performance. Such research divergence could be explained with the corresponding theoretical literatures. Finally, the economic factors are proved insignificantly affect financial performance with references to their insignificant coefficients towards stock return and ROA. Meanwhile，the impacts on ROA in the second regression model are stronger than that on stock return. Such differences on research outcomes are caused by the different measures of ROA, which is more related with the financial information, such as net profits and assets account.

Furthermore, the significance of this research should be considered. First, this research further explores the relationship between accounting discretion and financial performance, which remedies the research failure of the previous studies. Second, this research enhances the research accuracy by updating the sample data and improving the research methods with two complementary research models. In spite of such achievements, there are still some developments on the research approaches, such as more precise determinations of key indicators as well as their measures. Such improvements are likely to decrease the research divergence, especially on the influences of managerial discretion on firm’s financial performance. 

文献参考

Agle, B. R., Mitchell, R. K. and Sonnenfeld, J. A. (1999) Who Matters to CEOs? An Investigation of Stakeholder Attributes and Salience, Corporate Performa