中国投资者保护与上市公司盈余管理研究

发布时间：2018-06-29 09:41

本文选题：投资者保护 + 盈余管理　；参考：《吉林大学》2013年硕士论文

【摘要】：长期以来，，世界各国的上市公司都存在着盈余管理现象。盈余管理问题在投资者保护相对薄弱的中国更为突出。通过加强对投资者的保护来减少上市公司盈余管理行为可以更好地实现我国的会计目标——决策有用和反映受托责任，对保护投资者利益、建设高效透明稳健发展的证券市场有着重要意义。本文力图对投资者保护对盈余管理的影响这一问题进行较为系统的研究。以1994-2011年按每半年度划分的36个期间为研究期间，以沪深两市除金融类的上市公司为研究对象，采用盈余分布法测量各期间研究样本ROE零阀值处的盈余管理水平——为避免亏损的盈余管理程度，作为被解释变量，设置法律对投资者的保护、股权制衡度和审计力度等反映投资者保护水平的解释变量，运用理论分析与实证研究相结合的方法探讨投资者保护与上市公司盈余管理的关系。研究结果表明：中国投资者保护法律对上市公司盈余管理行为有显著的抑制作用，中国的投资者保护法律是有效的；社会宏观经济较大幅度不利波动时，企业整体表现出的盈余管理水平会有所提高；审计力度和上市公司盈余管理行为的关系不确定；股权制衡度的提高并不能对盈余管理行为产生抑制作用。另外，本文证实了中国上市公司存在显著的为避免亏损而进行盈余管理的行为。
[Abstract]:For a long time, the listed companies all over the world have the phenomenon of earnings management. The problem of earnings management is more prominent in China, where investor protection is relatively weak. By strengthening the protection of investors to reduce the earnings management behavior of listed companies, we can better achieve the accounting objective of our country-decision-making useful and reflect the fiduciary responsibility, to protect the interests of investors. It is of great significance to build an efficient, transparent and stable securities market. This paper tries to make a systematic study on the impact of investor protection on earnings management. Taking 36 biannual periods from 1994 to 2011 as the research period, and taking the listed companies in the Shanghai and Shenzhen stock markets apart from finance as the research objects, The method of earnings distribution is used to measure the level of earnings management at the zero threshold value of ROE in each period of study. In order to avoid the loss of earnings management, as the explained variable, the law is set up to protect investors. This paper discusses the relationship between investor protection and earnings management of listed companies by means of theoretical analysis and empirical research. The results show that: the Chinese investor protection law has a significant inhibitory effect on earnings management behavior of listed companies, the Chinese investor protection law is effective; The level of earnings management will be improved as a whole; the relationship between audit strength and earnings management behavior of listed companies is uncertain; the increase of equity balance can not inhibit earnings management behavior. In addition, this paper proves that the listed companies in China have significant behavior of earnings management to avoid losses.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F832.51;F224

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