公司治理对盈余管理影响的实证研究

An Empirical Study on the Impact of Governance Structure of Listed Companies on Earnings Management

以上市公司2004-2008年报中样本数最大的六个行业为样本,系统地分析公司治理结构对盈余管理的影响。结果表明:董事会规模的增加,有利于提高会计盈余信息的质量;董事长、总经理两职合一会助长利润虚增现象;仅在调减利润的企业样本中,独立董事比例、董事会会议次数对盈余管理有约束作用;对调增利润的企业,独立董事比例、董事会会议次数以及股权集中度均与盈余管理存在正相关关系。

This paper systematically analyses the impact of corporate governance structure on earnings management based on samples of six industries with the largest samples in annual report of listed companies of 2004-2008.Research indicates that the membership increase of Board of Directors will help improve the quality of accounting earnings information;the combination of chairman and executive manager will contribute to the phenomenon of artificial profit increase.It also shows that only in the samples of profit decrease adjusted,the proportion of independent directors,the quantity of board meetings have restriction function to the earnings management,and in those companies with profit increase adjustment,there is a positive correlation between the earnings management with the proportion of independent directors,with the quantity of board meetings,and with the degree of ownership concentration.