关键词: 会计准则, 对外直接投资, “一带一路”

Abstract: This paper first compiles the data of accounting standards adopted in the countries and regions along the Belt and Road. Next, this paper investigates the impact of the similarities in accounting languages on Outward Foreign Direct Investment (OFDI) for countries and regions along the Belt and Road. This paper uses the convergence of international financial reporting standards to measure the similarity of accounting languages and finds that similar accounting languages promote China's OFDI to the countries and regions along the Belt and Road. Besides, this paper documents that the impact of the accounting similarity is more pronounced after the Belt and Road Initiative. Furthermore, the results suggest that reduced information asymmetry is the potential mechanism through which converging accounting standards affect OFDI. This study provides direct evidence on the impact of accounting on advancing the development of the Belt and Road Initiative. The results show that accounting language plays an important role in advancing national and global economic development. The findings of this paper provide new evidence for the research of the convergence of international financial reporting standards and the Belt and Road Initiative.

Key words: accounting standards, Outward Foreign Direct Investment, the Belt and Road Initiative