|
|
|
| Research on the Influence of Excess Goodwill on Capitalization of R&D Expenditure |
| AN Shiqiang，ZHANG Jinchang |
| 1.University of Chinese Academy of Social Sciences，Beijing，China; 2. Chinese Academy of Social Sciences，Beijing, China |
|
|
|
|
Abstract This study examines the managerial accounting manipulation caused by excess goodwill from the perspective of capitalization of R&D expenditure. Taking A-share listed companies from 2007 to 2021 as samples, this study empirically examines the effect of excess goodwill on capitalization of R&D expenditure. The empirical study find that excess goodwill has a significant positive correlation with capitalization of R&D expenditure, and that excess goodwill encourages enterprises to increase capitalization of R&D expenditure to improve current accounting profit. The intermediary effect test shows that excess goodwill has a positive impact on the capitalization of R&D expenditure by increasing bank credit financing constraints and commercial credit financing constraints. Bank credit financing constraints and commercial credit financing constraints have partial intermediary effect. Heterogeneity analysis test shows that the positive correlation between excess goodwill and capitalization of R&D expenditure has differences in property right nature, technical level of industry and internal control quality. the positive impact of excess goodwill on capitalization of R&D expenditure is more common in non-state-owned enterprises, low-technology enterprises and enterprises with low internal control quality.
|
|
Received: 30 December 2022
|
|
|
|
|
|
|
