关键词: 会计信息质量 , 货币政策不确定性 , 融资行为 , 投资效率

Abstract: This paper investigates the impact of monetary policy uncertainty on accounting information quality. We find that monetary policy uncertainty can lead to high accounting information quality, and this is more significant in the firms with positive earnings. Furthermore, we find that high accounting information quality can mitigate the negative consequences of monetary policy uncertainty. Our study not only implies that it is important to increase the smoothness and consistency of monetary policy, but also the increasing accounting information quality could have positive effect on the defense of the volatility of macro economy and the allocation efficiency.

Key words: accounting information quality , monetary policy uncertainty , financing behavior , investment efficiency