公司治理结构与盈余管理——来自中国上市公司的经验证据  

Corporate Governance and Earnings Management:Empirical Evidence From Chinese Listed Companies

作　　者：张兆国[1] 刘晓霞[1] 邢道勇[1] 

机构地区：[1]华中科技大学管理学院,湖北武汉430074

出　　处：《中国软科学》2009年第1期122-133,共12页China Soft Science

摘　　要：本文以2002-2006年我国上市公司为样本,实证分析了公司治理特征对盈余管理的影响。结果发现,投资者法律保护水平、公司控制权争夺、独立董事比例与盈余管理程度负相关;资产负债率与盈余管理程度正相关;控股股东持股比例与盈余管理程度呈倒U型关系;产品市场竞争程度、管理者持股比例、董事会规模及是否设立审计委员会均与盈余管理程度不相关。据此提出了有关政策建议。Earnings management is an important academic topic in accounting and corporate governance, and big trouble in finance management. This paper examines the influence of corporate governance to earnings management with the data of Chinese listed companies from 2002 to 2006. The result is that level of investor protection, fighting for control fight, independent director percent have negative relation with earnings management. The rate of assets and liabilities shows positive relation with earnings management. Controlling shareholder＇ s share percent have inverted u shaped relation with earnings management. Level of competition in product market, manager＇ s share percent, board size and whether have auditing committee don＇ t have influence to earnings management. We give some suggestions according to these results.

关 键 词：公司治理 盈余管理 

分 类 号：F270.7[经济管理—企业管理]