扭亏公司盈余管理和公司治理关系的实证研究

The Empiric Research on Relationship Between Earning Management and Corporation Governance of listed Company Which Turn Loss into Gain

本文选择了2000-2002年158家扭亏公司作为样本,建立了多元回归模型,实证了扭亏公司盈余管理和公司治理的关系。发现扭亏公司的盈余管理程度与第一大股东和高管人员的持股比例正相关,与独立董事和内部人董事在董事会成员中所占的比例正相关,与集团公司控股正相关。政策建议为:国有股减持,实行全流通;改变独立董事聘任方式;实行累积投票制度;将集团控股公司和资产规模小的扭亏公司作为监管重点。

The article select 158 listed company as sample from corporations which turn loss into gain from 2000 to 2002. By set up regression model with many independent variables, the essay verify the relation between earning management and corporation governance . The outcome is as follows: Earning management is positive related with the stock percent of the biggest shareholder and executives; Earning management is positive related with the person percent of outdirectors and indirectors; Earning management is positive related with the group corporation controlling But some outcome doesn't mark from the view of statistics. The policy suggestions are as below: Decrease the state own shares, let all shares circulate Change the way of appointing outdirectors; Carry out the system of increase progressively voters; Control small listed company or company controlled by group corporation with emphasis. ,