内部控制、机构投资者持股与盈余管理

Internal Control,Institutional Investor Shareholding and Earnings Management

以2015-2019年沪深主板上市民营企业为研究对象,考察内部控制对盈余管理的影响,并将三者置于同一研究体系,研究机构投资者持股在内部控制抑制盈余管理中的调节效应。将机构投资者划分为压力抵制型与压力敏感型,进一步探讨不同类型机构投资者的调节效应。结果表明:企业内部控制管理水平与盈余管理显著负相关;机构投资者持股有效加强了内部控制制约盈余管理行为的力度,且相较于压力敏感型机构投资者,压力抵制型机构投资者作用更显著。

Taking the private enterprises on the Shanghai and Shenzhen main boards from 2015 to 2019 as the research object,we examined the impact of internal control on earnings management,and put the three into the same research system to study the Internal control which restrains the adjustment effect in earnings management.On this basis,it divides institutional investors into pressure resistant and pressure sensitive types,and further explores the adjustment effect of different types of institutional investors.The results show that:the level of corporate internal control management is significantly negatively correlated with earnings management;institutional investors’shareholding has effectively strengthened the strength of internal control to restrict earnings management behavior,and compared with pressure sensitive institutional investors,the role of pressure resistant institutional investors is more significant.