创业板上市公司股权结构与真实活动盈余管理的关系研究

发布时间：2018-04-14 13:10

本文选题：股权结构 + 真实活动盈余管理　；参考：《山东科技大学》2017年硕士论文

【摘要】：从20世纪90年代开始,我国资本市场快速发展,满足了部分企业融资的需求,为企业的资源优化提供了良好的平台与机遇。2009年创业板开板以来,为中小创新型企业提供了快速成长的平台,但其独特的发展背景也带来了潜在的风险。盈余信息作为上市公司最重要的评价信息之一,受到了各利益相关者的关注,然而伴随而来的却是由于信息不对称而导致的盈余管理行为,影响了市场资源分配的公平性,进而影响了企业和市场的发展。而公司股权机构作为对盈余影响较大的一项因素,值得我们重点关注。本文围绕上述问题,首先分别梳理了盈余管理和股权结构的基本理论,为后面的研究提供了理论保障。而后通过与主板上市公司对比介绍了创业板上市公司的股权结构特点和真实活动盈余管理方式的现状,为后文提供了研究方向。其次,根据理论研究和现状分析提出了关于公司股权结构与真实活动盈余管理之间的相关假设,并构建了真实活动盈余管理和Roychowdhury相关模型,选用创业板上市公司2014-2016三年的数据作为分析样本,进行回归分析并验证假设。最后根据研究结论从内部股权结构和外部监管角度提出了约束盈余管理行为的措施建议,以完善创业板公司内部治理结构,提高上市公司的财务信息透明度,从而促进资本市场良好持续发展。
[Abstract]:Since the 1990s, China's capital market has developed rapidly, meeting the financing needs of some enterprises and providing a good platform and opportunity for the optimization of enterprise resources.Small and medium-sized innovative enterprises provide a platform for rapid growth, but its unique development background also brings potential risks.Earnings information, as one of the most important evaluation information of listed companies, is concerned by various stakeholders. However, earnings management behavior caused by asymmetric information affects the fairness of market resource allocation.And then affected the development of enterprises and markets.As a factor affecting earnings, equity institutions are worthy of our attention.This paper firstly combs the basic theory of earnings management and equity structure, which provides the theoretical guarantee for the later research.Then it introduces the characteristics of equity structure and the current situation of real earnings management through comparing with the listed companies on the main board, which provides the research direction for the future.Secondly, according to the theoretical research and current situation analysis, this paper puts forward the relevant assumptions between the ownership structure of the company and the earnings management of the real activity, and constructs the model of the earnings management of the real activity and the Roychowdhury.The data of the gem listed companies in 2014-2016 are selected as the analysis sample, and the regression analysis is carried out and the hypothesis is verified.Finally, according to the conclusion of the study, the paper puts forward some measures to restrain earnings management from the perspective of internal ownership structure and external supervision, in order to improve the internal governance structure of gem companies and improve the transparency of financial information of listed companies.So as to promote the good and sustainable development of the capital market.
【学位授予单位】：山东科技大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F832.51

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