上市公司董事会特征和盈余管理关系的实证研究  

Empirical Research of the Relationship between Directorate Characteristics and Earnings Management

作　　者：张逸杰[1] 王艳[2] 唐元虎[1] 蔡来兴[1] 

机构地区：[1]上海交通大学管理学院,上海200030 [2]复旦大学管理学院,上海200433

出　　处：《管理评论》2006年第3期14-19,共6页Management Review

基　　金：国家自然科学基金项目资助(70341009)。

摘　　要：本文就董事会规模、活动强度和独立性对上市公司盈余管理的影响进行了理论分析和实证检验,发现独立董事的比例和盈余管理的程度之间存在U型曲线关系,董事会独立性的增加在一定程度上减少了盈余管理;董事会活动强度、董事会规模与盈余管理的关系不显著;研究还发现资产规模小的公司和盈利能力差的公司更可能从事盈余管理。研究为上市公司的公司治理改革提供了经验证据。This article deals with the influence that the board size and independence have on the earnings management of Chinese listed companies. Our empirical analysis shows that there is U relations between independent director percentage and earning management. The increase in the frequency of board activities and board size, however, can not reduce earnings management. This article also shows companies with bigger size and higher ROE are associated with less discretional accruals. The article provides empirical evidence for the corporate governance reform, and proves the efficiency of the policy that CSRC requires firms to establish the independent directors system.

关 键 词：董事会 公司治理 规模 独立性 盈余管理 

分 类 号：F224[经济管理—国民经济]