市场化程度、政治关联与盈余管理——基于深圳中小板民营上市公司的实证研究

Marketization Degree,Political Connection and Earnings Management:An Empirical Research Based on Private Small and Medium Enterprises Board Listed Companies in Shenzhen

政治关联作为一种市场与法律的非正式替代机制,已经对世界范围内的社会经济活动产生不容忽视的影响,日益引发各界的重视。而在我国,相对于国有企业与政府之间具有天然的"血缘"关系,民营企业寻求并建立政治关联更值得关注和研究。考虑到深圳中小板是民营企业的"大本营",本文利用深圳中小板2009—2011年间民营上市公司的经验数据,检验市场化程度、政治关联与盈余管理的关系。

Political connection,as an informal alternative mechanism of market and law,has caused a great impact on the social economic activities worldwide,and increasingly attracts attention from all walks of life.However,relative to the natural 'blood' ties between state-owned enterprises and government,private enterprises seeking to establish political connections are more worthy of attention and research in China.Considering Shenzhen small and medium enterprises board is the 'camp' for private enterprises,this paper tests the relationships between marketization degree,political connection and earnings management by using the data of private small and medium enterprise board listed companies in Shenzhen between 2009-2011.