创业板公司股权质押与盈余管理关系研究

Research onrelationship between equity pledge and earnings management of growth enterprise market companies

选取2011-2019年A股创业板1611家公司为研究样本,构建股权质押与会计稳健性的交互项,研究会计稳健性对股权质押与盈余管理关系的调节作用。研究结果表明:上市公司普遍存在盈余管理行为,大股东股权质押后应计盈余管理程度降低,真实盈余管理程度上升;会计稳健性对股权质押与盈余管理的关系有正向调节作用。研究结果为我国创业板公司治理与盈余管理的关系提供了经验证据。

1611 companies of A share growth enterprise market from 2011 to 2019 are selected as research samples,an interaction item is constructed between equity pledge and accounting moderation so as to study the moderating effect of accounting moderation on the relationship between equity pledge and earnings management.The results show that:earnings management is common in listed companies;after the pledge of major shareholders’equity,the degree of accrual earnings management decreases and the degree of real earnings management increases;accounting moderation has a positive moderating effect on the relationship between equity pledge and earnings management.The results provide empirical evidence for the relationship between corporate governance and earnings management in growth enterprise market.