职工董事与盈余管理:机制与效应  

Employee Representatives and Earnings Management:Mechanisms and Effects

作　　者：王欣兰 许安迪 王金凤 WANG Xinlan;XU Andi;WANG Jinfeng

机构地区：[1]不详

出　　处：《财务研究》2024年第6期69-83,共15页Finance Research

基　　金：国家社会科学基金一般项目(22BGL091)。

摘　　要：2024年7月1日,新修订的公司法正式施行,其中有关职工董事设立范围的条款发生了变化。本文选取2009~2022年沪深A股上市公司为初始样本,通过逐年匹配并筛选出包含职工董事的上市公司作为研究样本,实证检验上市公司设立职工董事对盈余管理的影响及其中的机制与效应。研究发现,职工董事可以有效抑制上市公司的真实盈余管理,但对应计盈余管理没有显著影响。机制检验发现,内部控制质量和管理者短视在职工董事与真实盈余管理中发挥中介作用。进一步研究发现,员工关爱文化、风险容忍度和董事会多样性在其中发挥了调节效应,职工董事主要影响真实盈余管理中的生产成本操纵和酌量性费用操控。上述研究结果对企业提高会计信息质量、合理规划董事会结构、提高董事决议正确性、保障企业职工权益等具有一定的参考价值。The newly revised Company Law officially came into effect on July 1,2024,in which the provisions regarding the scope of establishment of employee representatives have changed significantly.This paper selects A-share listed companies in Shanghai and Shenzhen from 2009 to 2022 as the initial sample,and empirically examines the impact of the establishment of employee representatives in listed companies on earnings management and the mechanisms and effects thereof by matching and screening the listed companies that include employee representatives year by year as the research sample.It is found that employee representatives can effectively inhibit real earnings management of listed companies,but have no significant effect on accrual earnings management.The mechanism test finds that internal control quality and managerial myopia play a mediating role in employee representatives and real earnings management.Further research found that employee caring culture,risk tolerance and board diversity play a moderating effect,and employee representatives mainly affect production cost manipulation and discretionary expense manipulation in real earnings management.The above findings are useful for enterprises to improve the quality of accounting information,rationalize the structure of the board of directors,improve the correctness of directors'resolutions,and protect the rights and interests of employees inenterprises.

关 键 词：职工董事 真实盈余管理 内部控制质量 管理者短视 

分 类 号：F275[经济管理—企业管理]