独立董事薪酬对盈余管理影响的实证研究  

Empirical Research on Influence of Independent Director Compensation on Earnings Management

作　　者：石宗辉[1,2,3] 徐凯[1,2,3] 孙俊奇[1,2,3] 鲁冰[1,2,3] 

机构地区：[1]中南财经政法大学会计学院 [2]中国人民大学商学院 [3]中国注册会计师协会

出　　处：《中国注册会计师》2014年第9期F0002-F0002,3,共1页The Chinese Certified Public Accountant

基　　金：国家自然科学基金面上项目"管理会计工具在中国企业集团与子公司管理控制变革中的价值导向研究"(项目编号:71172181)资助

摘　　要：本文以沪深两市2007-2011年的A股上市公司为研究样本,考察了独立董事薪酬对盈余管理的影响。结果表明:独立董事薪酬与盈余管理程度显著正相关;进一步地,相比负向盈余管理,独立董事薪酬对正向盈余管理的影响更加显著;最后,发现业绩好的公司中,独董薪酬与盈余管理程度的正相关关系更为显著。本研究表明,尽管独立董事在一定程度上有能力发现公司盈余管理行为,但因无法有效抑制该行为的发生,所以会要求不同程度的薪酬水平为其违规隐瞒行为寻求风险补偿,而高公司业绩给独立董事的高薪要求创造了条件,从而进一步加剧公司盈余管理水平。The article taking A-share companies listed in Shanghai and Shenzhen stock markets during 2007-2011 as samples,studies the influence of independent director compensation on earnings management.It finds out that independent director compensation is of significantly positive correlation with the degree of earnings management;furthermore,compared with the negative earnings management,the independent director compensation has more influence on positive earnings management;finally,the positive correlation relationship of independent director compensation and earnings management degree is more significant in companies of good performance.The research shows that although the independent directors are able to find out the earnings management behavior to a certain extent,they can't suppress it happening effectively.Therefore,varying levels of compensation will be required for the dishonesty.In this circumstance,good company performance creates conditions for independent directors to require high compensation,therefore,further intensifies the degree of earnings management.

关 键 词：盈余管理 独立董事 薪酬 实证研究 A股上市公司 正相关关系 研究样本 

分 类 号：F272.92[经济管理—企业管理] F275[经济管理—国民经济]