ESG表现、产品市场竞争与真实盈余管理  

ESG Performance,Product Market Competition and Actual Earnings Management

作　　者：李丹 李朝红 Li Dan;Li Chaohong(College of Economics and Management,Southwest Forestry University,Kunming Yunnan 650233,China)

机构地区：[1]西南林业大学经济管理学院,云南昆明650233

出　　处：《西南林业大学学报(社会科学)》2025年第1期51-57,66,共8页Journal of Southwest Forestry University(Social Sciences)

基　　金：中国国家留学基金〔2023〕54号、云南省教育厅科学研究基金项目“数字化转型背景下云南省企业ESG信息披露研究”(2024J0704)资助。

摘　　要：基于2012-2022年中国A股上市企业的数据为研究样本,采用双向固定效应模型,实证探究ESG表现、产品市场竞争与真实盈余管理三者之间的关系。结果表明:良好的ESG表现能够显著抑制企业真实盈余管理;产品市场竞争越激烈,ESG表现越能够有效降低企业真实盈余管理。进一步分析发现,随着产品市场竞争的加剧,东部地区和高融资约束企业能够更好地通过ESG表现来减少管理层实施真实盈余管理的动机。据此提出企业和政府应重视ESG责任履行、加强治理真实盈余管理行为、打破市场垄断等建议,以实现企业的高质量发展。Based on the sample data of Chinese A-share listed companies from 2012 to 2022 and using a two-way fixed effect model,this study empirically investigates the relationship among ESG performance,product market competition and actual earnings management.The results show that good ESG performance can significantly inhibit real earnings management;the more competition in the product market,the better ESG performance can reduce the degree of actual earnings management.Further research indicates that economically developed regions and enterprises facing high financing constraints can more effectively suppress actual earnings management through ESG performance,particularly in scenarios of intense product market competition.Accordingly,it is proposed that enterprises and governments should pay attention to the fulfillment of ESG responsibilities,strengthen the governance of actual earnings management behaviors,and break the monopoly of the market,to realize the high-quality development of enterprises.

关 键 词：ESG表现 真实盈余管理 产品市场竞争 高质量发展 

分 类 号：F270[经济管理—企业管理]