CEO声誉、盈余管理与投资效率  

CEO Reputation,Earnings Management and Investment Efficiency

作　　者：杨俊杰[1] 曹国华[1] 

机构地区：[1]重庆大学经济与工商管理学院,重庆400044

出　　处：《软科学》2016年第11期71-75,共5页Soft Science

基　　金：国家自然科学基金项目(71232004);中央高校基本科研业务重大自主项目(CDJSK1001)

摘　　要：首先，构建理论模型分析CEO声誉与盈余管理之间的关系，结果发现CEO声誉与盈余管理之间存在正向的影响机制，CEO声誉越高，其进行盈余管理的概率也越高；其次，以2007-2013年沪深两市的上市公司为样本，实证分析并验证了CEO声誉与盈余管理之间的正向影响机制，CEO声誉与企业投资效率之间也存在正相关关系，而盈余管理则对企业投资效率有消极的影响。This paper examines the relationship of CEO reputation, earnings management and investment efficiency through theoretical model and empirical test. Result finds that CEO reputation have the positive impact to the earnings management. The higher CEO reputation is, the more likely to act earnings management behavior he is. Secondly, it verifies that CEO reputation have the positive impaet to the earnings management through empirical test base on the sample of listed companies in China from 2007 to 2013. And it also finds out that, CEO reputation also have the positive impact to the investment effi- ciency. However, earnings management have the negative impact to investment efficiency.

关 键 词：CEO声誉 盈余管理 投资效率 

分 类 号：F272[经济管理—企业管理] F275[经济管理—国民经济]