竞争战略与盈余质量——基于文本分析的实证研究

当代财经 ›› 2020, Vol. 0 ›› Issue (9): 138-148.

• 现代会计 • 上一篇

竞争战略与盈余质量——基于文本分析的实证研究

胡楠, 邱芳娟, 梁鹏

西安交通大学管理学院,陕西西安 710065

收稿日期:2019-12-31 修回日期:2020-04-25 出版日期:2020-09-15 发布日期:2020-12-10
通讯作者: 胡楠,西安交通大学教授,博士,主要从事非结构化信息的资本市场价值研究,联系方式nanresume@yahoo.com
作者简介:邱芳娟,西安交通大学博士研究生,主要从事战略管理和管理会计研究;梁鹏,西安交通大学博士研究生,主要从事供应链管理和管理会计研究。
基金资助:
国家自然科学基金面上项目“企业描述性创新信息披露的影响因素和经济后果:基于上市公司年报文本分析的视角”(71772150)

Competitive Strategy and Earnings Quality: An Empirical Study Based on Text Analysis

HU Nan, QIU Fang-juan, LIANG Peng

Xi'an Jiaotong University, Xi'an 710065, China

Received:2019-12-31 Revised:2020-04-25 Online:2020-09-15 Published:2020-12-10

摘要/Abstract

摘要： 采用Word2Vec自然语言处理方法构建了中国情景下的竞争战略指标,并在此基础上对竞争战略、盈余质量与生命周期之间的关系进行了实证检验。研究发现:实施差异化战略的企业盈余持续性较高、盈余波动性较小;从企业的生命周期不同阶段来看,这种现象在处于成熟期和震荡期的企业中更明显。此外,在《国家中长期科学和技术发展规划纲要(2006—2020年)》的政策背景下,企业的战略转型增强了企业的盈余持续性,验证了该政策的有效性。

关键词: 竞争战略, 盈余质量, 企业生命周期

Abstract: This paper employs Word2Vec natural language processing method to construct the competitive strategy index in China's scenario, then on such a basis it conducts an empirical test on the relationship between competitive strategy, earnings quality and life cycle. The findings show that the enterprises implementing differentiation strategy have more persistent and less volatile earnings. Viewing from the different stages of enterprise life cycle, such phenomenon is more pronounced in the enterprises at the mature and vibrating stages. In addition, in the policy context of The Outline of the National Program for Long-and-Medium-Term Scientific and Technological Development (2006-2020), the enterprises' strategy transition has strengthened their earnings persistence, which verifies the effectiveness of the policy.

Key words: competitive strategy, earnings quality, life cycle of enterprises

中图分类号:

F272.3

胡楠, 邱芳娟, 梁鹏. 竞争战略与盈余质量——基于文本分析的实证研究[J]. 当代财经, 2020, 0(9): 138-148.

HU Nan, QIU Fang-juan, LIANG Peng. Competitive Strategy and Earnings Quality: An Empirical Study Based on Text Analysis[J]. Contemporary Finance & Economics, 2020, 0(9): 138-148.

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竞争战略与盈余质量——基于文本分析的实证研究

Competitive Strategy and Earnings Quality: An Empirical Study Based on Text Analysis

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