终极产权理论视角的股权性质与盈余管理研究

An Empirical Research on Ownership Property and Earnings Management Based on the Principle of Ultimate Ownership

文章借鉴终极产权理论,对中国上市公司的股权结构进行科学划分,就股权性质及盈余管理程度的相关性进行系统的分析、检验和解释。研究结果表明:政府最终控股企业的盈余管理程度高于非政府控股的企业;中央政府最终控股企业的盈余管理程度高于地方政府控股的企业;中央政府控股企业和地方政府控股企业的盈余管理程度分别高于非政府控股的企业。

Based on the principle of ultimate ownership, this paper scientifically partitions ownership property of listed firms in China and also analyzes the relationship between ownership property and earnings management. We find that firms controlled by government have higher earnings management than those controlled by non-government; center government more than local government; center government and local government more than non-government respectively.