上市公司治理结构对真实盈余管理影响的研究

发布时间：2018-03-19 05:07

本文选题：上市公司　切入点：治理结构　出处：《哈尔滨商业大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着我国资本市场的不断深入发展,投资者专业分析能力的不断提升,上市公司对财务报告监管力度的不断增强,尤其自我国颁布了新的企业会计准则之后,使得传统意义上低成本,易操作的应计盈余管理活动实施的空间日益减少,隐蔽性更强的真实盈余管理活动逐渐成为上市公司操纵盈余的主流。上市公司过度实施真实盈余管理会误导会计信息使用者做出错误的决策,损害会计信息使用者的利益;导致企业偏离最佳决策方案,潜在地危害企业的持续经营;不利于资本市场的资源进行合理配置,破坏资本市场的健康有序发展。上市公司的真实盈余管理程度与公司治理结构密切相关,设计并实施合理的公司治理结构有利于规范企业管理,发挥企业内部控制的有效性,对抑制上市公司实施真实盈余管理活动产生重要的作用。论文以上市公司治理结构与真实盈余管理的相关研究成果做为切入点,在采用文献综述法对目前国内外研究现状进行了较为全面、详细介绍的基础上,阐述了公司治理结构及真实盈余管理的涵义与理论基础。通过分析我国上市公司治理结构的现状,结合真实盈余管理产生的动机与实施手段,以我国沪深A股市场1891家上市公司2013—2015年财务数据作为样本,选择7个变量并利用Roychowdhury模型进行回归分析,研究上市公司治理结构对真实盈余管理的影响。得出的结论包括:股权集中度、董事长与总经理兼任情况与真实盈余管理程度呈正相关关系;国有股持股比例、董事会规模、独立董事所占董事会比例、监事会规模、高管持股比例与真实盈余管理程度呈负相关关系。最后针对实证分析结果,结合我国实际情况,提出完善上市公司治理结构以规范真实盈余管理的建议,旨在帮助上市公司的所有者设计并实施合理的公司治理结构,以保障会计信息质量,促进资本市场的资源优化配置,推动我国上市公司持续健康发展。
[Abstract]:With the development of the capital market and the improvement of the professional analysis ability of the investors, the supervision of the financial reports by listed companies has been strengthened, especially since the promulgation of the new accounting standards for enterprises in our country. The traditional low cost and easy to operate accrual management activities have less and less space to implement, The more hidden real earnings management activities gradually become the mainstream of earnings manipulation by listed companies. Excessive implementation of real earnings management by listed companies will mislead accounting information users to make wrong decisions and harm the interests of accounting information users. Causes the enterprise to deviate from the best decision plan, potentially endangers the enterprise's continuing operation, is not conducive to the rational allocation of the resources in the capital market, The degree of real earnings management of listed companies is closely related to the corporate governance structure. The design and implementation of a reasonable corporate governance structure is conducive to standardizing enterprise management and giving play to the effectiveness of internal control. It plays an important role in restraining the real earnings management activities of listed companies. This paper takes the related research results of listed companies' governance structure and real earnings management as the starting point. On the basis of a comprehensive and detailed introduction to the current research situation at home and abroad by the method of literature review, This paper expounds the meaning and theoretical basis of corporate governance structure and real earnings management. By analyzing the present situation of the governance structure of listed companies in China, it combines the motivation and implementation means of real earnings management. Taking the financial data of 1891 listed companies in China's Shanghai and Shenzhen A-share markets for 2013-2015 as a sample, seven variables are selected and the regression analysis is carried out using Roychowdhury model. This paper studies the influence of the governance structure of listed companies on real earnings management. The conclusions include: ownership concentration, the relationship between the co-appointment of chairman and general manager and the degree of real earnings management, the proportion of state-owned shares, the size of board of directors. The proportion of independent directors to the board of directors, the size of the board of supervisors, the proportion of senior management shares are negatively related to the real earnings management. Finally, according to the results of empirical analysis, combined with the actual situation in China, In order to help the owners of listed companies to design and implement reasonable corporate governance structure, to ensure the quality of accounting information and to promote the optimal allocation of capital market resources, the paper puts forward some suggestions to perfect the governance structure of listed companies to standardize the real earnings management. Promote the sustainable and healthy development of listed companies in China.
【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】：2017
【分类号】：F275;F832.51

【参考文献】