制造业内部控制对真实盈余管理的影响研究——兼不同产权性质下的比较

Research of the influence of the internal control in manufacturing on real earnings management:Comparison under different nature of property rights

以2013年沪深A股1 315家制造业公司为研究对象,利用其2011-2013年的数据,采用迪博内部控制指数量化衡量内部控制质量,检验内部控制对真实盈余管理的影响。研究发现,高质量的内部控制能够降低上市公司的销售性操控、生产成本操控和酌量性费用操控水平,从而降低上市公司的真实盈余管理程度。进一步研究发现,无论是国有控股公司还是非国有控股公司,内部控制都能有效抑制真实盈余管理,且在国有控股公司中其抑制作用更强。

With a sample of 1 315 Shanghai and Shenzhen A-share manufacturing listed companies in 2013 as research subject,based on their data from 2011—2013,Dibo index is used to measure the quality of internal control to examine the impact of internal control on real earnings management.It is found that good internal control can significantly inhibit sales earnings management,production cost management,and discretionary cost management of listed companies,respectively,so that their real earnings management level is decreased.Further research shows that either in state-owned holding companies or in non-stateowned holding companies,the internal control has significant inhibitory effect on real earnings management,and the inhibitory effect is stronger in state-owned holding companies.