中文摘要：

以2005--2012年的制造业企业为研究对象，基于主要供应商和客户的视角，从财务信息内部“生产”和投资者反应两个方面研究了关系型交易对企业会计信息质量的影响。结果发现，在会计信息“生产”方面，为了降低会计盈余的波动性，越依赖关系网络进行交易的企业越倾向进行盈余管理；在投资者反应方面，关系型交易增加了外部投资者的解读成本，降低了盈余反应系数，并且这一现象在国有企业中表现较为明显。研究表明：关系型交易增强了企业的盈余管理动机，这一信息交流机制降低了企业的信息透明度，减少了企业盈余的信息含量，这对我们理解新兴市场国家中的关系型交易如何影响公司会计信息质量及其投资决策具有增量贡献。

英文摘要：

This paper cites Chinese manufacturing listed firms between 2005 and 2012 as samples, based on the perspective of key suppliers and customers, and investigates the relationship transaction how influences on the quality of accounting informa- tion from the production of accounting information and the response of investors. The results show that on the production of ac- counting information, in order to reduce the volatility of accounting earnings, the relationship transaction of the firms and their key suppliers and customers increase the magnitude of earnings management, and on the response of investors, relationship transaction of the firms and their key suppliers and customers increase the cost of comprehending firm-specific information for outside investors, reduce earnings response coefficient, and earnings response coefficient is statistically significantly negative related to the relationship transaction of SOEs. The result suggests the relationship transaction of the firms increases the moti- vation of earnings management, which reduces the information transparency, and further the informativeness of accounting earnings, this may help to understand the relationship transaction of emerging economy countries how influence on the quality of accounting information of the firms.