家族涉入、亲缘关系组合与盈余管理  

Family involvement,kinship composition and earnings management

作　　者：谭庆美[1] 苏江奇 哈柳宇 TAN Qingmei;SU Jiangqi;HA Liuyu(College of Management and Economics,Tianjin University,Tianjin 300072,China)

机构地区：[1]天津大学管理与经济学部,天津300072

出　　处：《管理工程学报》2022年第5期99-110,共12页Journal of Industrial Engineering and Engineering Management

基　　金：国家社会科学基金资助项目(20BGL093)。

摘　　要：本文以中国沪深两市家族上市企业2003—2017年数据为样本,实证考察家族涉入对应计及真实盈余管理的影响,以及家族成员亲缘关系组合的调节作用。实证结果表明,家族涉入程度提高能够显著降低家族企业应计及真实盈余管理水平。家族成员亲缘关系组合由核心成员控制发展至兄弟(姐妹)共同控制再至远亲共同控制模式,家族涉入程度提高对应计及真实盈余管理水平的降低作用均减弱。家族涉入程度与负向应计及真实盈余管理之间不具有显著相关关系,但家族涉入程度对正向应计及真实盈余管理水平具有显著负向影响。随着家族成员亲缘关系的复杂化,家族涉入程度提高对正向应计及真实盈余管理水平的降低作用均减弱。本文的研究结论对于探究家族涉入对盈余管理的影响机制具有一定参考价值,也有利于实际控制人根据亲缘关系组合类型,采取有效措施改善家族企业盈余质量。The involvement of family members in corporate governance is a feature that mostly distinguishes a family firm,which combines“family”and“firm,”from a nonfamily firm.Family involvement provides the family with the ability and power to materially influence the family firm′s goals,strategy and governance structure and thus affects the earnings management behavior of family firms.Most studies on the relationship between family involvement and earnings management regard family members as highly homogeneous,ignoring differences in kinship among family members.Influenced by traditional family culture,the interpersonal relationships in Chinese family firms have the characteristic of a“differential order pattern”centered on family kinship.The closer the kinship between family members,the easier it is to create intimacy,unconditional trust,and other emotions.Thus,different kinship compositions of family members involved in family firms may result in different bases for trust,communication,cohesion and identity as well as different degrees of willingness to protect socioemotional wealth,which influences the behavior of family members and further impacts the relationship between family involvement and earnings management of family firms.By adopting a multiple regression analysis method,this paper investigates relationships among family involvement,family members′kinship composition and earnings management.First,this paper reveals how family involvement affects the earnings management of family firms.Second,this paper investigates the moderating effect of kinship composition on earnings management-family involvement relationship sensitivity.Our sample includes family firms listed on the Chinese A-share market from 2003 to 2017.Only firms that met the following criteria are selected:(a)The ultimate controlling owner of the firm is an individual or a family;and(b)at least one family member serves as the director of the board,supervisor or senior manager.All data are from the CSMAR database.Based on the kinship b

关 键 词：家族涉入 应计盈余管理 真实盈余管理 亲缘关系组合 社会情感财富 

分 类 号：F275.4[经济管理—企业管理]