基于股权结构下的董事会特征与盈余管理的关系研究

Relationship Between Board Characteristics and Earnings Management Based on Ownership Structure

董事会作为公司治理机制的重要组成部分,必然会对公司盈余管理产生很大的影响。鉴于在以往的研究文献中,只单纯研究了董事会特征与盈余管理的关系,没有考虑股权结构对二者关系的影响。本文以2006年的1202家上市公司为对象,综合研究董事会规模、独立董事比例、领导结构、董事会会议次数、董事会持股比例和审计委员会对公司盈余管理的影响,并考虑不同股权结构下董事会特征和盈余管理的差异,以及董事会特征与盈余管理关系的差异,由此给出相应的政策建议。

Board of directors which is an important composition of corporate governance system undoubtedly has influence on the earnings management.But the forefather researches only studied the relationship between the characters of board of directors and earnings management,and did not consider the difference of ownership structure in the relationship.This paper regards 1202 listed corporate of the year 2006 as the research object,studies the relationship between the characters of board of directors and earnings management from the scale,rate of independent directors,structure,meeting frequencies,stock options for directors and audit committee.And the difference of characters of board of directors,the difference of earnings management,the difference of the relationship under different ownership structure are also taken into account.According to the conclusion,the paper makes some suggestions.