代理冲突、公司治理与盈余质量相关性的实证研究

发布时间：2018-01-04 03:39

本文关键词：代理冲突、公司治理与盈余质量相关性的实证研究　出处：《安徽财经大学》2013年硕士论文　论文类型：学位论文

【摘要】：随着证券市场的蓬勃发展,上市公司盈余质量的问题受到了国内外学者的广泛关注。公司治理作为一个重要方面,对盈余质量产生了很大的影响。目前已有文献主要是研究公司治理的若干方面对盈余质量的影响,难以就公司治理的综合水平高低能否影响盈余质量得到确切的结论。为此,本文将采用合适的方法来研究公司治理的综合水平对盈余质量的影响。另外,不合理的公司治理结构能够引发较大的代理冲突,本文认为不同的代理冲突程度能够导致公司治理对盈余质量产生不同的影响。因此,本文将代理冲突、公司治理与盈余质量结合在一起,研究三者之间的相关性。本文采用规范与实证相结合的研究方法,将全文分为五章。首先,本文通过对已有文献进行综述,归纳了研究现状,引出了研究主题；其次,本文采用规范研究方法对委托代理、公司治理及盈余质量三者的理论内涵进行了深入的研究,同时对三者的相关性进行了理论分析；然后,根据理论分析提出了三条研究假设,并进行实证研究设计,利用上市公司2008-2010年的经验数据,运用修正的DD(2002)模型作为盈余质量的计量模型,从以下两个方面检验了三者之间的相关关系：一方面,检验公司治理水平与盈余质量的相关关系；另一方面,检验在不同的代理冲突程度下,公司治理水平的高低对盈余质量有何不同的影响。本文的实证研究结果发现：第一,公司治理水平能够影响盈余质量,公司治理水平越好,则盈余质量越高。第二,代理冲突程度的不同影响着公司治理水平与盈余质量的相关关系,当代理冲突程度较高时,提高公司治理水平能显著改善盈余质量；当代理冲突程度较低时,提高公司治理水平不能显著改善盈余质量。最后,本文在实证研究结论的基础上,提出了减少代理冲突、完善公司治理机制及提高盈余质量的一些粗浅建议,并指出了本文研究的不足之处及今后的研究方向。
[Abstract]:With the vigorous development of the securities market, the problem of earnings quality of listed companies has been widely concerned by scholars at home and abroad. Corporate governance as an important aspect. It has a great influence on earnings quality. At present, there are some literatures mainly studying the influence of several aspects of corporate governance on earnings quality. It is difficult to get a definite conclusion whether the comprehensive level of corporate governance can affect earnings quality. Therefore, this paper will adopt appropriate methods to study the impact of comprehensive level of corporate governance on earnings quality. Unreasonable corporate governance structure can lead to larger agency conflicts. This paper argues that different degree of agency conflicts can lead to different effects of corporate governance on earnings quality. The relationship between corporate governance and earnings quality is studied. This paper combines normative and empirical research methods, the full text is divided into five chapters. Firstly, this paper summarizes the existing literature, summarizes the current research situation, leads to the research topic; Secondly, this article uses the normative research method to carry on the thorough research to the principal-agent, the corporate governance and the earnings quality theory connotation, at the same time has carried on the theoretical analysis to the three correlation; Then, according to the theoretical analysis, three research hypotheses are put forward, and empirical research design is carried out, using the empirical data of listed companies from 2008 to 2010. Using the modified DDG 2002) model as the measurement model of earnings quality, this paper examines the correlation between the three from the following two aspects: on the one hand, the correlation between corporate governance level and earnings quality; On the other hand, under different agency conflicts, the level of corporate governance has different influence on earnings quality. The empirical results show that: first, the level of corporate governance can affect the quality of earnings, the better the level of corporate governance, the higher the quality of earnings. The degree of agency conflict affects the correlation between the level of corporate governance and earnings quality. When the degree of agency conflict is high, improving the level of corporate governance can significantly improve the quality of earnings; When the degree of agency conflict is low, improving the level of corporate governance can not significantly improve earnings quality. Finally, on the basis of empirical research conclusions, this paper puts forward some superficial suggestions to reduce agency conflicts, improve corporate governance mechanism and improve earnings quality. And pointed out the deficiency of this paper and the future research direction.
【学位授予单位】：安徽财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F271;F832.51

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