机构投资者异质性与盈余管理  

Institutional Investors Heterogeneity and Earnings Management

作　　者：李争光[1,2] 赵西卜[1] 曹丰[1] 

机构地区：[1]中国人民大学商学院,北京100872 [2]盐城工学院经济与管理学院,江苏盐城224051

出　　处：《软科学》2015年第7期69-72,共4页Soft Science

基　　金：国家自然科学基金项目(71303024);中国人民大学商学院研究生科学研究基金项目(14XNH234)

摘　　要：在将机构投资者划分为稳定型与交易型的基础上,以2007"2012年我国A股上市公司为研究对象,考察了机构投资者异质性对盈余管理的影响。研究结果表明,与交易型机构投资者相比,稳定型机构投资者显著抑制了公司的盈余管理行为;稳定型机构投资者发挥了公司外部监督者的作用,约束了公司管理层操纵盈余的机会主义行为。This paper divided institutional investors into the stable institutional investor and unstable institutional investor,then it explored institutional investors＇ heterogeneity impact on earnings management by using the sample data of Shanghai and Shenzhen A-share listed companies from 2007 to 2012. Empirical evidence shows that the stable institutional investor had more effect on earnings management than the unstable institutional investor,the stable institutional investor had more effect on income-increasing earnings management than the unstable institutional investor. Further more,it showed that the stable institutional investor can constrain manager＇s opportunistic behavior of earnings and effectively play role in corporate governance of enteral regulator.

关 键 词：盈余管理 机构投资者 异质性 稳定型机构投资者 交易型机构投资者 

分 类 号：F230[经济管理—会计学] F832[经济管理—国民经济]