上市公司股权激励与盈余管理关系的实证研究

An Empirical Study of Relation Between Equity Incentives and Earnings Management of Listed Companies

本文以在2006-2008年间公布实施高管股权激励方案的79家上市公司为样本,利用修正的Jones模型来估计盈余管理程度,建立面板数据多元回归模型,实证检验了股权激励对我国上市公司盈余管理的影响,结果表明:股权激励程度与盈余管理程度呈正相关关系,但统计上不显著。

his paper takes 79 listed companies between 2006 and 2008who implemented a release of the executives equity incentive plan of companiesas the sample, and uses the amended Jones model to estimate the extent of earnings management and establishes panel data multiple regression models to testify the impact of the equity incentives towards earnings management of listed companies in China. The empirical results show that the degree of earnings management incentive stocks a positive correlation with that of earnings management, but it is not obvious from the statistics.