管理层权力、机构持股与会计稳健性

发布时间：2018-04-27 21:00

本文选题：管理层权力 + 机构持股　；参考：《浙江财经大学》2017年硕士论文

【摘要】：会计稳健性原则,作为会计领域的研究热点,是会计计量的一大重要原则。其受学者的关注由来已久并且经久不衰。学术界对其的研究重点也从最初的如何度量问题一直发展到分析其受哪些因素影响以及其可能会产生的经济后果等问题。本文中将其作为被解释变量,试图研究管理层权力和机构投资者持股比例对其的影响。管理层作为公司治理结构中的重要组成部分,在所有权与经营权两权分离的现代企业典型架构下,当管理层权力超越董事会和股东的绝对权力时,管理层是否存在具备对会计信息质量进行操纵的动机和可能性,从而对会计稳健性产生消极影响的问题同样引起了学者们的关注。作为公司治理结构中另一重要组成部分,随着近年来机构投资者在上市公司的投资持股比例稳步上升,机构投资者兼具股东和专业机构的双重身份让学者们看到了其在公司治理结构中的潜力,本文其中一个创新点就是研究在加入机构投资者持股比例这一新变量后,考察其是否具有抑制管理层权力——会计稳健性的消极影响的作用。本文在分析了上述三个主要变量之间的关系后,得出了以下主要结论:(1)我国上市公司的会计盈余存在稳健性;(2)管理层权力能影响会计稳健性,管理层权力越集中的公司,其会计稳健性越低;(3)机构持股能抑制管理层权力对会计稳健性的消极影响。由此,本文提出相应的政策建议:(1)完善公司内部权力结构配置,避免管理层权力过度集中;(2)调动机构持股者参与公司治理积极性,提高股东话语权;(3)提高独立董事和监事会等公司内部治理机构的独立性和专业性,发挥监督作用;(4)继续发挥会计稳健性的积极作用。
[Abstract]:Accounting conservatism principle, as a research hotspot in accounting field, is an important principle of accounting measurement. It has been concerned by scholars for a long time and has not declined. The research focus of academic circles has also developed from how to measure the problem at the beginning to analyze the factors that affect it and the possible economic consequences. This paper takes it as the explanatory variable and tries to study the influence of management power and institutional investor holding ratio on it. As an important part of the corporate governance structure, the management authority exceeds the absolute power of the board of directors and shareholders under the typical structure of modern enterprise with the separation of ownership and management rights. Whether the management has the motive and possibility of manipulating the quality of accounting information, which has a negative impact on accounting conservatism, has also attracted the attention of scholars. As another important component of corporate governance, the proportion of institutional investors holding shares in listed companies has steadily increased in recent years. The dual identity of institutional investors as both shareholders and professional institutions makes scholars see their potential in corporate governance structure. One of the innovations of this paper is to study the new variable of shareholding ratio of institutional investors. To investigate whether it has the function of restraining the negative influence of management power-accounting conservatism. After analyzing the relationship between the above three main variables, this paper draws the following main conclusions: 1) there is conservatism in the accounting earnings of listed companies in China. (2) the management power can influence the accounting conservatism, and the more centralized the management power is, The lower the accounting conservatism, the lower the institutional shareholding can restrain the negative influence of management power on accounting conservatism. Therefore, this paper puts forward corresponding policy recommendations: 1) perfecting the internal power structure of the company, avoiding excessive concentration of management power, and 2) arousing the enthusiasm of institutional shareholders to participate in corporate governance. To improve the independence and professionalism of independent directors and board of supervisors and to play a supervisory role) continue to give play to the positive role of accounting conservatism.
【学位授予单位】：浙江财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F271;F832.51

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