独立董事网络、机构投资者持股与盈余管理的关系研究  

Study on the Relationship between Independent Director Network,Institutional Investor Shareholding and Earnings Management

作　　者：王小鹏[1] 解艳凤 WANG Xiaopeng;XIE Yanfeng(School of Economics and Management,Xi'an Shiyou University,Xi'an,Shaanxi 710065,China)

机构地区：[1]西安石油大学经济管理学院,陕西西安710065

出　　处：《西安石油大学学报(社会科学版)》2025年第1期76-84,共9页Journal of Xi’an Shiyou University:Social Science Edition

基　　金：陕西高校青年创新团队建设项目“面向碳达峰碳中和的资源环境审计创新团队”(2022.68);陕西省教育厅青年创新团队科研计划项目“ESG表现对重污染企业绿色创新的影响研究”(23JP126)。

摘　　要：基于2011—2022年沪深A股上市公司样本数据,从社会关系网络视角出发,研究独立董事网络、机构投资者持股与盈余管理之间的关系。研究发现,独立董事网络对公司盈余管理存在显著的负向影响;机构投资者持股比例与盈余管理之间存在负相关关系;且机构投资者持股可以促进独立董事关系网络对企业盈余管理行为的抑制作用。因此,建议监管层应同时加强独立董事社会网络以及机构投资者治理,发挥二者协同治理优势。Based on the sample data of Shanghai and Shenzhen A-share listed companies from 2011 to 2022,this paper studied the relationship between independent director network,institutional investor shareholding and earnings management from the perspective of social relationship network.The results show that the independent director network has a significant negative impact on corporate earnings management.There is a negative correlation between the shareholding ratio of institutional investors and earnings management.Moreover,the shareholding of institutional investors can promote the inhibition effect of the independent director network on the earnings management behavior of enterprises.Therefore,it is suggested that regulators should strengthen the social network of independent directors and the governance of institutional investors at the same time,so as to give play to the advantages of collaborative governance of the two.

关 键 词：独立董事 社会关系网络 机构投资者 盈余管理 

分 类 号：F23[经济管理—会计学]