内部治理结构下的真实盈余管理研究——基于深市A股制造业上市公司的经验数据
发布时间：2018-08-11 21:13
【摘要】：以深市2007-2013年1103家A股制造业上市公司数据为样本,分析公司内部治理结构特征对真实盈余管理的影响。结果发现:第一大股东持股比例与上市公司真实盈余管理程度呈U型关系;前五大股东持股比例、高管薪酬水平与上市公司真实盈余管理程度呈显著正相关;高管持股比例、监事会会议次数和监事会规模显著负相关于上市公司的真实盈余管理程度。并据此提出相关的政策建议:优化股权结构、健全独立董事制度、完善管理层激励约束机制、强化监事会监督机制。
[Abstract]:Based on the data of 1103 A-share manufacturing listed companies in Shenzhen from 2007 to 2013, this paper analyzes the influence of internal governance structure on real earnings management. The results show that: the largest shareholder holding ratio and the real earnings management degree of listed companies are U-shaped; the top five shareholders' shareholding ratio, executive compensation level and the real earnings management degree of listed companies are significantly positive correlation; The number of supervisory meetings and the size of the board of supervisors are negatively correlated with the real earnings management of listed companies. Based on this, some policy suggestions are put forward: optimizing the ownership structure, perfecting the independent director system, perfecting the incentive and restraint mechanism of the management, and strengthening the supervisory mechanism of the board of supervisors.
【作者单位】： 湖南大学工商管理学院;东南大学经济管理学院;
【基金】：湖南省社科基金项目“基于行为股利理论的上市公司非理性股利政策研究”(11YBB086);湖南省社科基金项目“公允价值会计职业判断研究”(13YBA071) 国家自然科学基金项目“基于生态环境的地方政府资产、负债转换机理与多维度量及实证研究”(71573075);国家自然科学基金项目“主体功能区生态预算报告构建方法及其实证研究”(71273084)
【分类号】：F275
[Abstract]:Based on the data of 1103 A-share manufacturing listed companies in Shenzhen from 2007 to 2013, this paper analyzes the influence of internal governance structure on real earnings management. The results show that: the largest shareholder holding ratio and the real earnings management degree of listed companies are U-shaped; the top five shareholders' shareholding ratio, executive compensation level and the real earnings management degree of listed companies are significantly positive correlation; The number of supervisory meetings and the size of the board of supervisors are negatively correlated with the real earnings management of listed companies. Based on this, some policy suggestions are put forward: optimizing the ownership structure, perfecting the independent director system, perfecting the incentive and restraint mechanism of the management, and strengthening the supervisory mechanism of the board of supervisors.
【作者单位】： 湖南大学工商管理学院;东南大学经济管理学院;
【基金】：湖南省社科基金项目“基于行为股利理论的上市公司非理性股利政策研究”(11YBB086);湖南省社科基金项目“公允价值会计职业判断研究”(13YBA071) 国家自然科学基金项目“基于生态环境的地方政府资产、负债转换机理与多维度量及实证研究”(71573075);国家自然科学基金项目“主体功能区生态预算报告构建方法及其实证研究”(71273084)
【分类号】：F275
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