管理层权力、盈余管理与股市流动性——基于企业生命周期的视角
发布时间：2018-09-07 16:46
【摘要】：以我国沪深两市A股数据,检验了企业处于生命周期的不同阶段,管理层权力对应计盈余管理和真实盈余管理的影响。研究结果发现:企业生命周期会影响管理层权力对盈余管理方式的选择。管理层权力较高的上市公司在做出盈余管理策略时,会选择在企业成长期进行应计盈余管理,而选择在成长期、成熟期和衰退期进行真实活动盈余管理。进一步研究发现:权力高管在实施应计盈余管理后提高了股票交易活跃度,而在实施真实盈余管理活动后降低了股票交易活跃度。
[Abstract]:Based on the A-share data of China's Shanghai and Shenzhen stock markets, this paper examines the influence of management power on earnings management and real earnings management in different stages of the life cycle. The results show that the life cycle of enterprises will affect the choice of management power to earnings management. When the listed company with higher management power makes earnings management strategy, it will choose to carry on the accrual earnings management in the enterprise growth period, and choose to carry on the real activity earnings management in the growth period, the mature period and the decline period. The further study shows that after implementing accrual earnings management, power executives increase the activity of stock trading, but reduce the activity of stock trading after the implementation of real earnings management.
【作者单位】： 南京大学财务与会计研究院;
【基金】：江苏省博士生创新计划项目(IAPHD)
【分类号】：F275;F272.91
本文编号：2228835
[Abstract]:Based on the A-share data of China's Shanghai and Shenzhen stock markets, this paper examines the influence of management power on earnings management and real earnings management in different stages of the life cycle. The results show that the life cycle of enterprises will affect the choice of management power to earnings management. When the listed company with higher management power makes earnings management strategy, it will choose to carry on the accrual earnings management in the enterprise growth period, and choose to carry on the real activity earnings management in the growth period, the mature period and the decline period. The further study shows that after implementing accrual earnings management, power executives increase the activity of stock trading, but reduce the activity of stock trading after the implementation of real earnings management.
【作者单位】： 南京大学财务与会计研究院;
【基金】：江苏省博士生创新计划项目(IAPHD)
【分类号】：F275;F272.91
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