Correlation Test of Accounting Surplus Information on Macroeconomic Forecast: With the Whole Social Fixed Assets Investment as the Intermediary Variable Empirical

Yuanze Wu

doi:10.6981/FEM.202409_5(9).0009

Authors

Yuanze Wu

DOI:

https://doi.org/10.6981/FEM.202409_5(9).0009

Keywords:

Accounting Surplus Information; National Economic Growth; Fixed Assets Investment of the Whole Society.

Abstract

Since Ball and Brown first introduced the empirical paradigm, the usefulness of accounting information has long been the attention of empirical accounting research. Most of the current research focuses on exploring the impact of micro-level accounting information on investment subjects, and ignores the functional transformation of accounting information from micro-data to macro prediction. In this paper, the financial data of Shanghai and Shenzhen A-share listed companies from 2003 to 2021 are selected as the research sample to conduct an empirical study on the correlation test of the aggregate accounting surplus on the future GDP forecast, and analyze the intermediary effect of fixed asset investment in the whole society. The results show that the growth rate of aggregate accounting surplus has a significant positive relationship with the future GDP growth rate, and the fixed asset investment of the whole society can promote the micro enterprise surplus to empower the macro GDP growth, and the intermediary effect is obvious. Based on this, this paper suggests to improve the operation vitality of enterprises, reduce the cost of investment and financing of enterprises, and transform into the continuous driving force of national economic growth.

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