上市公司关联交易对盈余管理影响的实证研究

The Empirical Research about the Influence of the Related Party Transactions on Earnings Management of Listed Company

本文在对国内外相关理论及研究成果分析的基础上,结合我国上市公司关联交易的现实情况,提出四个假设,采用修正的横截面Jones模型度量上市公司的盈余管理程度,通过实证检验,证实了目前我国上市公司中仍存在关联交易盈余管理行为。实证结果显示,以往占很大比例的关联方商品和劳务购销形式的盈余管理越来越趋于淡化,而关联方资金占用与盈余管理呈显著的正相关,反映出目前我国上市公司利用关联交易进行盈余管理的方式正在发生变化。同时,实证结果表明,资产负债率与盈余管理存在着显著的正相关关系。

On the basis of studying relevant theory and research from home and abroad, combined with the status of the related party transactions of listed company in our country, the article proposes four hypotheses. Then the article uses modified cross-sectional Jones model to measure the earnings management of the listed company. Through empirical test, confirmed Chinese listed companies are still associated with related party transactions earnings management, a large proportion of related party purchase and sale of goods and services in previous as the form of earnings management tend to become more and more diluted, and listed companies shows a significant positive correlation relations between earnings management and related party transactions funds used, also reflects the current type of related party transactions in earnings management of listed companies is changing, that is more inclined to Implement earnings management activity through related parties of funds used, and confirmed the debt ratio and earnings management show significant positive correlation