會計信息能夠為宏微觀經濟發展提供可靠、精準和有效的決策依據。"十三五"規劃強調指出要"提高經濟運行信息及時性、全面性和準確性",完善政策實施的效果評估。鑒于此,本文以具有中國特色的產業政策為切入點,研究產業政策是否以及如何影響企業的會計穩健性。結果發現,產業政策顯著降低了企業的會計穩健性,而且在非國有企業、年輕企業和低成長性企業中更加顯著。另外,與一般性產業政策相比,重點產業政策對企業會計穩健性的影響更大。基于作用路徑的檢驗發現,產業政策緩解了企業的融資約束、稅收負擔以及誘發非國企高管攫取超額薪酬的行為,從而導致企業會計穩健性的降低。本研究揭示了產業政策對會計穩健性的影響及作用機理,提供了產業政策影響企業會計政策選擇的直接證據。

Accounting information plays an efficient role in providing reliable and accurate decision basis for macro and micro economy development.The thirteenth five-year plan emphasizes the timeliness,comprehensiveness and accuracy of information on economic performance and the importance on evaluating effects of policies.Therefore,using Chinese style industrial policies as an entry point,this article studies how and through which mechanism can industrial policies affect firms’ accounting conservatism.This article finds that firms being supported by industrial policies have lower accounting conservatism and this negative relation is more pronounced in non-SOEs,young firms or firms with lower growth rate.Compared with general industrial policies,core industrial policies have greater influence on firms’ accounting conservatism.This article also studies the mechanism and finds that being supported by industrial policies can help to lower financial constraint and tax burden,thus decreases firms’ accounting conservatism.Also,being supported by industrial policies results in managers in non-SOEs having higher incentive to pursue excess executive compensation,which also decreases firms’ accounting conservatism.In conclusion,this article studies on whether and how being supported by industrial policies affects accounting conservatism,thus provides direct evidence on industrial policy shaping firms’ choice of accounting policy.