盈余管理与控制权结构关系的实证研究

The Empirical Research of the Relationship between Earnings Management and Corporate Control Structure

以上海证券交易所793家上市公司2005-2008年间的3172个观察值为样本,对控制权结构与盈余管理之间的关系进行实证研究。结果表明,第一大股东持股比例与盈余管理大小呈倒U型关系;同时,董事会人数、独立董事的比例及监事会人数与盈余管理负相关,而提高流通股比例、增加监事持股比例及董事长与总经理两职合一对上市公司的盈余管理影响不大。

Based on the value of 3172 samples of the selective 793 listed companies in Shanghai Stock Exchange between 2005 and 2008, this paper researched on the relationship between the corporate equity structure and earnings management. The results show that the largest shareholder＇s equity ratio is u-shape proportional to the earnings management. At the same time, the total number of directors, the ratio of independent directors and the expansion of the size of the supervisory board, independent directors will also affect the extent of earnings management of listed companies. However, increasing the ratio of outstanding shares and insider ownership, the ratio of combined position of chairman and general manager has little effect on earnings management.