基于资本市场监管制度安排下的上市公司盈余管理动机分析

盈余管理是指企业经营管理人员作为“内部人”利用自己的信息优势,运用现行的会计政策、会计法规,有目的地选择会计程序和方法,对以经营业绩为基础的会计信息进行“加工”,从而在证券市场、银行信贷、税收交纳、报酬激励等方面取得一定利益的会计行为。企业盈余行为作为一种会计行为,必然受动机支配。因此,研究盈余管理应首先从动机入手。     

从经济学角度看建设市场主体之间的利益冲突与激励机制

1 委托代理问题及其存在的原因委托代理关系是随着社会化大生产的发展而产生的,广泛的社会分工和企业内部分工,使经济主体之间产生了广泛的委托代理关系。在建设市场中,业主计划投资建设某工程项目,由于信息不足,特别是工程建设专业技术信息不足,业主亲自谋划组织实施工程项目所获得的“利益”,还不如委托给专门的工程承包商去办能带来更多的“收益”。因此,投资人即业主选择某承包商为其提供组织项目实施的专业技术服务,与此同时授予承包商一定的决策权利,并依据其提供服务的数量和质量支付相应的报酬。业主就属于委托人,被授权…     

上市公司治理结构对信息性盈余管理的影响研究

为了有效监督公司内部利害关系各方的行为,有效降低基于各种委托代理关系的代理成本,在阐述国内外盈余管理文献的基础上,假设拥有健全公司治理结构的上市公司管理者更愿意进行信息性盈余管理,通过构建合理的并可度量的信息性盈余管理衡量方法,使用沪、深两市全部A股上市公司2014—2016年公司季度财务数据,实证研究了信息性盈余管理视角下公司治理对盈余管理的影响。结果表明,市场监管者和投资者需要关注两种不同的盈余管理行为,投机性盈余管理更倾向于误导投资者,信息性盈余管理则是通过盈余管理的手段向投资者传递有用的内部信息。股权制衡对上市公司的信息性盈余管理行为具有明显促进作用,促使管理层进行信息性盈余管理,就要优化股权结构,形成产权多样化的股东制衡机制,实现股权结构的合理优化。拥有健全公司治理结构的上市公司管理者更愿意进行信息性盈余管理,公司治理结构对管理者进行信息性盈余管理具有积极的影响,健全的公司治理结构能够提高财务报告透明度和盈余信息含量。因此,保障财务报告的真实性和可靠性,以信息性盈余管理为动机探究公司治理对盈余管理的影响具有现实意义。     

现代企业制度中产权代理者激励方案设计

现代企业制度要求的所有权与经营权相分离所带来的产权代理问题,是一类不对称信息条件下的委托——代理问题。解决这类问题的关键是为委托者设计出有效激励代理者的报酬方案。本文对此给予分析,最后指出激励方案实施中有待解决的困难。     

提升国企管理者领导力与执行力的思考

领导力是影响并改变下属态度、价值观、信念或行为的能力,是下属对管理者的一种自觉追随、认同。执行力是员工贯彻企业战略意图及完成预定目标的能力。对于国企管理者,领导力与执行力是其内在素质和品质的一种表现,它不仅直接影响着企业员工的价值观念、工作态度和行为方式,而且决定着企业战略目标能否最终实现,决定着企业的绩效与成败。笔者就提升国企管理者领导力和执行力的对策做了初步探讨和思考。     

中小企业普遍偷逃税背后的循环体系

中小企业偷逃税已经在国民的脑海中被认为是一种常态现象,但其偷逃税行为并不是一家企业或者企业主单方面所能够做成的,背后存在着彼此相互依赖的利益循环链。文章以实践经验为基础,深入分析了中小企业偷逃税背后的企业管理者、会计人员以及税务工作者三方之间的利益循环体系,加以代理记账案例进一步论证,并根据分析为中小企业普遍偷逃税行为提出治理措施。     

公平理论在企业激励中的应用

激励是一种精神力量或状态,对组织中的成员起加强、激发和推动作用,并且指导其行为指向目标。现代人力资源理论认为企业的员工都是希望作出贡献,并能够自我调整,是取之不尽的资源,而关键问题在于企业的领导者和人力资源管理者能否创造一种使每个人都可以作出贡献的气氛,充分发挥员工的管理和决策的能力。公平理论是企业激励理论的重要组成部分。员工不仅关心自己报酬的绝对值的多少,而且更关注与相近的其他员工报酬的比较。一、公平理论公平理论是美国亚力桑那州立大学心理学家斯达亚、亚当斯（ＪＳＡｄａｍｓ）于１９５６年提出来的。这一…     

绩效管理公平四要诀

目前．电力企业职工中普遍存在思想浮燥、工作消极、发展困惑等问题,追根溯源,从亚当斯的“公平理论”中可以得到一些启示。亚当斯认为,一个人的工作动机不仅受其所得报酬绝对值的影响,而且受到相对报酬多少的影响,并且根据比较结果决定今后的行为。     

EVA指标的价值创造机制分析

一、问题的提出契约经济学把所有权和经营权分离后产生的委托代理关系定义为一种契约。在该种契约下,不管是股东(所有人、委托人)还是管理者(代理人),都追逐自身效用的最大化,因此管理者的行动与股东财富最大化的目标往往会出现偏差,产生代理成本。要保证股东的利益,降低代理成     

信息与管理

管理者只有通过准确、及时的信息才能作出正确的决策。信息是管理者正确分析现状 ,进行科学地预测和决策的依据。     

Bankruptcy risk,firm-specific managerial human capital,and diversification

This paper proposes a model in which firm diversification acts as an efficient form of nonpecuniary compensation for the manager. In the model diversification rewards the manager by reducing the likelihood of bankruptcy which in turn increases the expected value of his firm-specific human capital. Unlike the principal-agent model of diversification, this model shows that diversification may be optimal even if the manager is risk neutral and his behavior can be observed by firm owners.I thank Nasser Arshadi, Susan Feigenbaum, David Hakes, Thomas Ireland, Roger Sherman, and Robert Sorensen for their comments and suggestions.     

控制权利益与专有管理才能:基于交易视角的分析

本文运用纳什谈判解的概念,从“专有管理才能”的间接交易这一角度分析控制权利益,认为:控制权利益在一定程度上是所有者获取“专有管理才能”所支付的代价,是“专有管理才能”的间接定价形式。本文分析的主要政策含义是:控制权利益对于管理者有激励作用,过度强调对控制权的限制可能会损失“专有管理才能,”这将成为公司治理的机会成本;限制控制权利益不能单纯地通过减少管理者手中的权力,更重要的是依靠产权排他性权威形成的有效约束机制。     

Proactive behavior and industrial salesforce performance

Proactive behavior has been indirectly linked to effective selling, an assertion underpinned by a logic, which states that in a world of high competition and choice, the passive, reactive seller is unlikely to do as well as his or her more proactive counterpart. Yet, little direct empirical evidence exists to substantiate this link. In this paper, we address this knowledge gap by describing a study that assesses the effect of proactive behavior on the performance of an industrial sales force. The paper explores the issue of salesperson performance and the construct of proactive behavior (or proactiveness). Using the Proactive Personality (PP) Scale to measure proactiveness and the line manager's subjective evaluation to indicate salesperson performance, it was found that a small but significant relationship exists. The results are discussed, with areas for future research delineated and implications for practitioners explored.     

Organizational processes in formulating marketing policies

A thorough understanding of the processes used to formulate policy can help a marketing manager develop more creative and effective marketing policies for his organization. In this article the authors outline the different processes that may be used by companies to formulate their marketing policies and describe the main characteristics of these processes. The impact that the process may have upon organizational behavior and performance is also discussed to help the marketing manager understand the implications of using a particular process.     

Zip-mentation : (A selective mailing strategy using zip code segmentation for industrial mailings to professionals)

The basic thrust of this paper deals with the mechanics of implementing a management information system to obtain marketing feedback for management decision making. It organizes the specific variables involved and welds them into a meaningful model plan which allows the marketing manager or his assistants to intelligently determine the results of their efforts on regular and experimental mailings. This model hopefully obviates the possibility of confusing cause and effect which seems to be one of the most common errors that occurs in direct response today.     

Managers and the distribution of Scientific and Technical Information

Keeping in touch with progress in science and technology is one of the most important functions of R&D organizations. A study of nine engineering organizations shows that managers recognize this importance and consciously plan ways to encourage their subordinates to use scientific and technical information (STI) originating at outside organizations. The most prevalent forms of influence are routing articles and encouraging interpersonal contacts with outside professionals.
Managers especially route information and references related to sources of STI uniquely accessible to the manager. Such information includes:
—notices about and notes from meetings restricted to managers;
—unpublished material and preprints sent to the manager for review or because of the manager's reputation;
—articles from publications more likely to be read by managers; and
—information on the directions and accomplishment of competitive firms.     

Payment by Results Systems: British Evidence

A model of the firm's decision to adopt a payment by results system is developed and tested with British establishment data. The model maintains that payment by results systems have larger set-up costs but lower supervision costs than time rates, particularly for short-tenure workers who are not well motivated by deferred compensation. The evidence confirms the model's predictions by showing that payment by results systems substitute for supervision, and that larger establishments and those with shorter-tenure workers are more likely to adopt payment by results. In addition, both the presence of a payment by results system and the new adoption of such a system are shown to exert a positive influence on measures of establishment performance.     

Call Options and Liquidation in Commercial Mortgage Financing

This paper models a commercial real estate project where a wealth-constrained manager uses outside debt financing to purchase a project who's return depends on future economic conditions and the manager's investment in the project. It is shown that it is inefficient to finance the project with callable debt. This prediction is consistent with observed real estate financing practice. I also model the outcome of financial distress allowing for (1) debt forgiveness, (2) equity in exchange for debt forgiveness, and (3) foreclosure. The model motivates (1) why commercial real estate loans are often foreclosed, and (2) why lenders foreclose assets at fire-sale prices.     

Managing frustration in the sales force

In the day-to-day operations, a sales manager must solve a multitude of problems. One such problem is dealing with behavior resulting from employees' frustration. Frustration-instigated behavior is different in kind from motivated or goal-directed behavior. Failure to recognize frustration-instigated behavior in a salesperson and to respond appropriately can have serious consequences. Because a salesperson often has little control over factors affecting his performance, he is particularly susceptible to frustration. This article tells how to recognize frustrated behavior and then describes six of the most common frustrating sales situations and how to deal with them.     

Differences between industrial and consumer product managers

Marketing decision areas and general background characteristics of industrial and consumer product managers are examined in this article. A discriminant analysis identifies those marketing decision areas that separate industrial and consumer product managers. The position of industrial product manager was found to be more of a marketing coordinator while the consumer product manager was found to be a more active decision maker.