【作者】 牛素珍；

【导师】 万希宁；

【作者基本信息】 华中科技大学 ， 会计学， 2009， 硕士

【摘要】 随着民营上市公司的快速发展,民营上市公司也得到越来越多的关注,同时民营上市公司的盈余管理问题也逐渐凸现。很多学者研究了上市公司的盈余管理问题,发现上市公司盈余管理普遍存在。但很少有学者针对民营上市公司进行研究,或在盈余管理方面对民营上市公司和国有上市公司进行比较分析。于是本文以2004-2006年上市公司中制造业为样本,研究我国民营上市公司与国有上市公司在盈余管理上的差异。本文首先介绍了民营上市公司的特点、对民营和国有上市公司治理结构进行介绍和对比分析,然后阐述了公司内部治理机制与盈余管理的关系。在实证研究设计中,首先介绍了不同的盈余管理测度的计量方法和几种具有代表性的盈余管理测度模型,结合本文建立新的盈余管理测度模型,计算出样本公司的盈余管理程度。然后根据公司治理结构选择适当的解释变量和控制变量,提出研究假设。在实证研究阶段,首先对样本公司按类别做独立样本T检验,给出民营上市公司和国有上市公司内部治理结构的差异。然后针对国有上市与民营上市分别研究其内部治理机制与盈余管理之间的关系。然后在总体样本、国有上市公司与民营上市公司之间作对比分析,以发现我国民营上市公司与国有上市公司在盈余管理上的差异。实证结果表明部分年份民营上市公司和国有上市公司是有显著区别的,民营上市公司审计委会和独立董事比例与盈余管理程度负相关;而国有上市公司中却没有显著关系。民营上市公司中第一大股东持股比例与盈余管理显著正相关;而国有上市公司中第一大股东比例与盈余管理显著负相关。民营上市中高管薪酬、监事会比例、流通股比例与盈余管理负相关;而在国有上市公司中高管薪酬、监事会比例、流通股比例与盈余管理不存在显著关系。因此,要根据国有上市与民营上市公司特点来合理完善公司治理机制,防范盈余管理问题的发生。使我国资本市场朝着健康有序的方向发展。更多还原

【Abstract】 Along with the private listed companies develop fastly, private listed companies alsoobtained more and more many attention, At same time, earning management of privatelisted companies question also become common. Many scholars hanv studied the earningsmanagement of listed companies and found earnings management of listed companies isvery prevalent.However, few scholars study the private listed companies and comparestate-owned listed companies to private listed companies about earnings management. Sothe paper take 2004-2006 year manufacturing industry of listed companies as sample andresearchs the differences of china’s private listed companies and state-owned listedcompanies in earnings management.This paper introduces the characteristics of private listed companies, and analyzes thedifferences of corporate governance structure about private and state-ownedenterprises.and says relations of company’s internal governance mechanisms and earningsmanagement.The paper introduces different measurement methods of earningsmanagement and several representative models of measuring the earnings management.This paper establishs a new measure model,of earnings management to calculate thesample’s degree of earnings management. And according to Corporate governancestructure, choose explanation variables and control variables of the sample and give theresearch hypothesis.In the design of positive research,First of all sample the paper does the independentsamples T test by category and gives corporate governance structure differences of theprivate and state-owned listed companies. And then researchs relations of company’sinternal governance mechanisms and earnings management.The paper compare the stateownedlisted companies and private companies to overall sample in order to find thedifferences in earnings management between the state-owned listed companies and privatelisted companies.Empirical results show that the private listed companies is significantdifferent form the state-owned listed companies in some year. In private listed companies,Audit Committee and the proportion of independent directors is negatively related toearnings management.But,in the state-owned listed companies,that is positively related to earnings management. In private listed companies,the largest shareholder is positivelyrelated to earnings management.But,in the state-owned listed companies,that is negativelyrelated to earnings management. In private listed companies, Executive pay, the proportionof the board of supervisors and the ratio of the outstanding shares is negatively related toearnings management.But,in the state-owned listed companies,that is no related to earningsmanagement. Therefore,in accordance with characteristics of the state-owned and privatelisted companies,The peper should improve corporate governance to prevent earningsmanagement problems and have china’s capital market keep a healthy and orderlydevelopment.更多还原