股权结构与财务重述研究  

Ownership Structure and Financial Restatement

作　　者：张俊瑞[1] 马晨[1] 

机构地区：[1]西安交通大学管理学院,陕西西安710049

出　　处：《审计与经济研究》2011年第2期63-72,共10页Journal of Audit & Economics

基　　金：国家自然科学基金资助项目(70372048);教育部博士点基金资助课题(20070698047);教育部新世纪人才支持计划项目(NCET-07-0309)

摘　　要：以2005年—2009年间中国A股上市公司补充与更正报告中出现"会计差错更正"项目的公司为研究对象,以是否发生财务重述为因变量,采用配对样本分析方法考察了股权结构对财务重述的影响。结果发现,股权集中度越高,发生财务重述的概率越低;国有股比例越高,发生财务重述的概率越高;流通股比例越高,发生财务重述的概率越低;管理层持股比例与财务重述之间呈U型关系;而法人股以及机构投资者抑制财务重述的作用不明显。研究拓展了财务重述的内容,为监管部门防范财务重述、改进股权结构以及提高公司治理效率提供了经验证据。Based on items of accounting errors correction from supplement and correction statement in Chinese listed firms in A share market between 2005—2009,this research empirically investigates the relationship between ownership structure and financial restatement systematically by matched sample analysis method,taking financial restatement occurs or not as a dependent variable.The finding suggests that firms with higher ownership concentration have a smaller probability to restate;firms with higher state shareholdings are easier to restate;firms with higher trading shareholdings have a smaller probability to restate;there is a U relation between management shareholdings and financial restatement;legal person and institutional shareholdings can＇t restrain financial restatement significantly.This research develops the contents of financial restatement research,providing empirical evidence and suggestions for regulatory authorities,to prevent financial restatement and improve ownership structure to enhance corporate governance efficiency.

关 键 词：财务重述 股权结构 会计差错 LOGIT回归 

分 类 号：F234.4[经济管理—会计学]