农业上市公司股权结构对盈余管理影响的实证

Empirical on the impact of equity structure of agricultural listed companies on earnings management

探讨农业上市公司在其自身特有的行业环境之下股权结构和盈余管理之间的关系,发现和参与约束农业上市公司中存在的盈余操纵行为,帮助农业上市公司改善其股权结构,建立比较先进和完善的公司治理结构。结果表明,股权集中度与盈余管理呈倒U形关系;股权制衡度与盈余管理呈显著负相关关系;国有股持股比例与盈余管理呈显著正相关关系;管理层持股比例与盈余管理呈显著负相关关系;机构投资者持股比例与盈余管理呈显著负相关关系;股权流通性与盈余管理呈显著正相关关系。

Explore the relationship between the equity structure and earnings management of agricultural listed companies under their own unique industry environment,discover and participate in the constraints of earnings manipulation behavior in agricultural listed companies and help agricultural listed companies improve their equity structure to establish a more advanced and perfect corporate governance structure.The results show that,the equity concentration and earnings management have an inverted U-shaped relationship;the equity balance degree have a significant negative correlation with earnings management;the proportion of state-owned stock ownership and earnings management are significantly positirely correlated;the management shareholding ratio and earnigs management are siginficantly negatively correlated;the institutional investors'shareholding ratio and earnings management are significantly negatively correlated;the equity liquidity and earnings management are significantly positively correlated.