审计委员会特征与盈余管理——基于声誉和财务专长的实证研究

Audit Committee Characteristics and Earnings Management——A Study on Reputation and Financial Expertise

本文以2004—2012中国A股上市公司为数据样本,实证研究了审计委员会成员声誉和财务专长对盈余管理的影响。回归结果表明审计委员会成员声誉与盈余管理显著正相关,即审计委员会成员声誉越高盈余管理越严重,但从回归结果中未发现审计委员会财务专长和盈余管理之间的相关关系。进一步地,按股权性质和股权结构对样本分组后进行研究,回归结果表明,相对于非国有控股上市公司,国有控股上市公司的审计委员会成员声誉更可能导致盈余管理;相对于分散控股和相对控股,绝对控股上市公司的审计委员会成员声誉更可能导致盈余管理;相对于股权制衡的上市公司,股权不制衡上市公司的审计委员会成员声誉更可能导致盈余管理。本文的研究对加强上市公司审计委员会建设,从而减少盈余管理行为有着借鉴意义。

Basing on the 2004- 2012 China A- share listed company as data sample,this paper conducts an empirical research on the influence of audit committee financial expertise and reputation on earnings management. The results show that the reputation of audit committee members has significantly positive correlation with the degree of earnings management,but this paper doesn’t find the significant relation between audit committee financial expertise and earnings management. Further,according to the nature of the equity and ownership structure,we group the sample and do the research. Regression results show that compared with non- state- owned listed companies,the audit committee members’ reputation of the state- owned listed companies is more likely to lead to earnings management; compared with the decentralized control and relative controllisted company,the audit committee members’ reputation of absolute control listed company is more likely to lead to earnings management. This paper has important implication for strengthening the construction of audit committee and reducing the earnings management.