盈余管理与环境信息管理的替代效应——基于公共压力变化的研究视角  

The Substitution Effect between Earnings Management and Environmental Information Management:From the Perspective of Public Pressure Changes

作　　者：姚圣[1] 孙梦娇[1] Sheng Yao and Mengjiao Sun(School of Management, China University of Mining and Technology, Xuzhou Jiangsu 221116, China)

机构地区：[1]中国矿业大学管理学院,江苏徐州221116

出　　处：《会计与经济研究》2016年第5期49-65,共17页Accounting and Economics Research

基　　金：国家自然科学基金面上项目(71572189;71102163);中国博士后特别资助基金项目2012T50529);中国博士后科学基金面上资助项目(2011M500977)

摘　　要：盈余管理是对财务盈余操纵的行为,环境信息管理是对环境信息披露操纵的行为,两者有何关系?通过两阶段最小二乘法和有限信息最大似然法分析发现,在《环境信息公开办法》颁布前,盈余管理和环境信息管理的相关性不显著;而在《环境信息公开办法》颁布后,企业对环境信息进行管理的动机开始增强,盈余管理和环境信息管理呈显著负相关关系,替代效应增强。进一步研究发现,这种替代关系在重污染行业中更加显著。研究结论为监管企业管理层环境信息管理行为提供了有效的路径,即通过衡量盈余管理程度来间接判定环境信息管理程度,以便采取进一步的监管措施。The earnings management is manipulating financial earnings,and environmental information management is manipulating the disclosure of environmental information. Then what is the relationship between them？ Using the two-stage least squares method and the limited information maximum likelihood analysis,the paper finds the relationship between earnings management and environmental information management is not significant before the promulgation of Environmental Information Disclosure for Trial Implementation.However,after the promulgation,the firms have more incentives to manage environmental information,and the relationship between the earnings management and environmental information management turns negative significantly,increasing the substitution effect. Further studies show that the relationship is more significant in the heavy-polluting industries.This paper provides an effective way of supervising environmental information management behavior,namely by measuring the earnings management to judge the extent of environmental information management indirectly,and making further regulatory action.

关 键 词：盈余管理 环境信息披露 环境信息管理 替代效应 公共压力 

分 类 号：F234.4[经济管理—会计学]