股权激励报酬契约与盈余质量的关系研究

A Study on the Relationship of Executive Equity Incentives Contract and Earnings Quality

股权激励报酬契约和会计信息质量之间存在着密切的内在联系。盈余质量特征会影响管理者持股和股权激励报酬契约的选择,反之,管理者持股和股权激励方案的实施也会对盈余质量产生影响。研究发现:盈余质量可靠性和及时性较低的上市公司更倾向于授予管理者较多的股权;管理者持股对盈余及时性产生正向影响;上市公司实施股权激励后盈余可靠性质量明显降低。

The implementation of executive equity incentive contract is closely related to the accounting information quality.Earnings quality has an effect on management shareholding and executive equity incentives plans,and management shareholding and equity incentives do the same on the earnings quality.The study finds some results as follows.First,firms with lower earnings quality may attract higher manager ownership.Second,there is a significant positive correlation between management equity and earnings timeliness.Third,after the company executive equity incentive plan,earnings reliability will be reduced accordingly.