公司控制权结构与盈余管理实证研究

【作者】 连书銮；

【导师】 潘琰；

【作者基本信息】 福州大学 ， 会计学， 2003， 硕士

【摘要】 我国证券市场的发展已近十余年，实证会计研究也在我国逐步发展。和国外的同行一样，我国学者也已经开始研究我国现实证券市场环境下的盈余管理行为。但同内外研究的范围过分集中于确认盈余管理是否发生、何时发生以及为什么发生的问题，而关于盈余管理制约因素的研究则鲜有涉及。本文拟对这一问题进行探索。笔者通过研究分析认为，公司的控制权结构是制约盈余管理的重要因素。在总结国内外盈余管理的测度方法的基础上，结合我国证券市场的现状，探索适合我国国情的盈余管理测度方法。然后提出研究假设，选取上海证券市场的463家上市公司作为样本，进行实证分析，并解释实证结果产生的原因。在些基础上，提出相应的政策建议。本文研究的主要贡献在于：·分析国内外盈余管理实证研究的文献，指出其中的不足之处，认为盈余管理实证研究应特别重视三个方面的研究：证明管理具体应计项目的范围和程度、理顺关于现实经济中盈余管理对股价和资源配置的影响结论的矛盾、以及确定盈余管理的制约因素。·提出公司控制权结构是制约盈余管理的重要因素的观点，在其他学者规范研究的基础上，用实证的方法研究公司控制权结构与盈余管理的深层关系。·对国外学者用于计量盈余管理的方法进行评价，解释琼斯模型在我国证券市场不能完全适用的原因。在对国内学者所使用的方法进行深入的分析后，指出其中部分研究方法的缺陷，尝试提出适合我国证券市场的盈余管理测度方法，并将其运用于后文的实证研究之中。·以实证的证据表明公司控制权结构与盈余管理确实存在相关性，为国内外学者相关的规范研究提供了强有力的证据支持。·解释分析实证研究的结果，提出改善我国证券市场环境，治理我国上市公司过度盈余管理行为的现实对策。更多还原

【Abstract】 With the development of securities market in our country, positive accounting research is developing. The domestic scholars have researched earning management in our securities market as the foreigners. But all the scope is mostly focused on whether or not the earnings management will happen, when to happen and why to happen. Seldom research have involved in the factor that can restrict earnings management. And I will explore it. After analysis I conclude corporate control structure is the important factor that can affect earning management. After selecting a new method to measure earnings management, I put forward the research hypothesis, selecting samples and carried out positive analysis. Finally I explained the positive result and advanced some corresponding policy advice. The main contributions are:·Reviewed earnings management positive research literature, I thought earnings management positive research will be furthered in three aspects: testifying the extension and magnitude of each accrual items that have be managed, ascertaining the effect that the stock prize and resource distribution will be affected by earnings management, and confirming the factors that could restrict earnings management.·Put forward the point of view that corporate control structure is the important factor that could restrict earnings management. On the basis of others’ theoretical research, I researched the relation deeply by positive method. ·I evaluated the method measuring earnings management in abroad, explained the reason that the Jones model can not be use fully in domestic securities market. And analyzed the methods use by domestic scholars, considering the status on quo, proposed a new method creatively, then use it in the following positive research.·I made it clear that corporate control structure would affect the earnings management actually by positive evidences, provided the strong proof for the correlative theoretical research in home or abroad.·I explained the result of positive research, advanced some countermeasures to improve the domestic securities market circumstance and some advices to control the excessive earning management。更多还原