创业板上市公司管理层激励与会计稳健性研究

发布时间：2018-02-08 15:29

本文关键词： 创业板管理层激励会计稳健性　出处：《哈尔滨商业大学》2013年硕士论文　论文类型：学位论文

【摘要】：我国创业板市场成立于2009年10月30日,是一个新兴的资本市场,也是多层次资本市场体系的重要组成部分。创业板市场上股票的高流通性和对信息披露的强调性等特征使管理层的自身利益与公司的业绩具有更深的联系,这极大的调动了管理层经营管理的积极性。创业板上市公司要想有长期稳定的发展,应该极力缩小盈余管理行为的操纵空间,提高稳健性的观念。从提升会计稳健性的角度对管理层激励进行研究,探讨管理层激励对会计稳健性的作用机理,丰富和细化相关研究内容；结合使用多种研究方法,提高研究结果的可靠性；通过研究提出创业板上市公司管理层激励方面切实可行的建议,提升创业板市场对稳健性的关注,培育稳健性信息的需求,促进创业板市场长期稳定发展。管理层在公司经营的过程中,直接参与决策制定与执行,并且管理层具有动机选择激进的会计方法从而提高业绩来增加自己的利益,这就影响了会计稳健性。因此通过借鉴国内外学者的研究成果,对管理层激励与会计稳健性关系进行研究,并以信息不对称理论、公司剩余索取权理论、委托代理理论、契约理论、激励—保健双因素理论作为论文研究的理论基础。在现有的创业板市场制度背景下,从管理层薪酬激励、股权激励的两个角度,来研究对会计稳健性的影响,并对此问题进行分析。经过前述理论研究和分析之后,选取2009年至2011年三年间的创业板上市公司为研究样本,对管理层激励与会计稳健性之间的关系进行实证分析。主要检验分析了创业板上市公司会计稳健性的存在性,创业板上市公司管理层薪酬激励对会计稳健性的影响,创业板上市公司管理层薪酬股权激励对会计稳健性的影响以及创业板上市公司管理层薪酬激励、股权激励对会计稳健性的影响程度,通过检验分析发现：所选取的样本公司具有会计稳健性,创业板上市公司管理层薪酬激励与会计稳健性呈正相关,创业板上市公司管理层股权激励与会计稳健性呈正相关,并且均为非线性的正相关关系,是左低右高的倒U型关系。当前,我国创业板上市公司的会计稳健性亟需提高,而管理层激励对提高会计稳健性有着直接而有效地作用,实证研究的结论为创业板上市公司管理层对会计稳健性的影响提供了证据支持,为完善公司治理,提高创业板上市公司会计稳健性做出贡献。
[Abstract]:China's growth Enterprise Market (gem), which was established in October 30th 2009, is a new capital market. It is also an important part of the multi-level capital market system. The characteristics of high circulation of stocks and emphasis on information disclosure on the gem market make the self-interest of management more closely related to the performance of the company. This has greatly mobilized the enthusiasm of management management. If the gem listed companies want to have long-term and stable development, they should try their best to reduce the manipulation space of earnings management behavior. To improve the concept of conservatism. From the perspective of improving accounting conservatism, this paper studies management incentive, discusses the mechanism of management incentive on accounting conservatism, enriches and refines the relevant research contents, and uses a variety of research methods. Improve the reliability of the research results, through the study of gem listed companies management incentive practical suggestions, enhance the gem market attention to robustness, cultivate the need for robust information, To promote the growth Enterprise Market long-term and stable development. The management is directly involved in decision-making and execution in the process of operating the company, and the management has the motive to choose radical accounting methods to improve their performance to increase their own interests. Therefore, the relationship between management incentive and accounting conservatism is studied by referring to the research results of domestic and foreign scholars, and the theory of information asymmetry, the theory of corporate residual claim, the principal-agent theory are used to study the relationship between management incentive and accounting conservatism. Under the background of the existing gem market system, the influence on accounting conservatism is studied from the two angles of management compensation incentive and equity incentive. After the above theoretical research and analysis, the gem listed companies from 2009 to 2011 are selected as the research samples. This paper makes an empirical analysis on the relationship between management incentive and accounting conservatism, mainly analyzes the existence of accounting conservatism in gem listed companies, and the influence of management compensation incentive on accounting conservatism in gem listed companies. The influence of management compensation equity incentive on accounting conservatism in gem listed companies, and the influence of gem management compensation incentive and equity incentive on accounting conservatism. It is found that the sample company has the accounting conservatism, the compensation incentive of the gem listed company is positively related to the accounting conservatism, and the equity incentive of the gem listed company is positively related to the accounting conservatism. All of them are nonlinear positive correlations, which are inversely U-type relations with low left and right right height. At present, the accounting conservatism of listed companies in gem needs to be improved, and the incentive of management has a direct and effective effect on improving accounting conservatism. The conclusion of the empirical study provides evidence support for the influence of management on accounting conservatism of gem listed companies and contributes to improving corporate governance and improving accounting conservatism of gem listed companies.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F272.91;F832.51

【引证文献】