分析师跟进对上市公司盈余管理方式的影响研究被引量：17

On the Effect of Analyst Following on Earnings Management Modes in Listed Companies

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摘要本文以2007-2011年A股上市公司为样本,研究分析师跟进对上市公司在选择盈余管理方式的影响。结果发现,分析师跟进人数与企业的盈余管理方式存在显著的相关性,分析师跟进人数越多,企业盈余管理的方式就更为隐性化。本文的研究结果还表明了分析师声誉效应的存在:当有《新财富》"最佳分析师"跟进时,随着人数的增多,企业会倾向于更多地使用真实活动盈余管理;而当没有《新财富》"最佳分析师"跟进时,企业不会由于分析师跟进人数的变化而改变盈余管理方式。在控制了一定的内生性问题之后,上述主要结论依然得到了支持。 This paper chooses A-share listed companies from 2007 to 2011 as a sample to study the impact of analyst following on earnings management modes in listed companies. It concludes that the number of analysts is significantly correlated with earnings management modes, namely more analysts lead to more implicit earnings management modes. It also shows the existence of analysts reputation effect=with New Fortune Best Analyst following, firms tend to use more real earnings management with the increase in the number of analysts; and without New Fortune Best Analyst following, firms do not change earnings management modes with the change in the number of analysts.After the con- trol of endogeneity,the main conclusions above-mentioned still obtain the support.

作者李丹蒙叶建芳叶敏慧

机构地区华东理工大学商学院上海财经大学会计学院中国民生银行贸易金融部

出处《外国经济与管理》 CSSCI 北大核心 2015年第1期11-20,共10页 Foreign Economics & Management

基金中央高校基本科研业务费专项基金(批准号:WN1323008) 教育部人文社会科学重点研究基地重大项目(批准号:11JJD790008)

关键词分析师跟进盈余管理明星分析师 analyst following earnings management star analysts

分类号 F275 [经济管理—企业管理]

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参考文献17

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