| 股权分置改革、大股东行为变迁与盈余管理幅度 |
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| 引用本文： | 雷光勇,张引,金鑫.股权分置改革、大股东行为变迁与盈余管理幅度[J].上海立信会计学院学报,2010,24(2):8-16. |
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| 作者姓名： | 雷光勇 张引 金鑫 |
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| 作者单位： | 对外经济贸易大学国际商学院,北京,100029 |
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| 基金项目： | 国家社科基金项目“股权分置改革的会计后果及其监控研究”(07BJY029);;对外经济贸易大学211工程项目“国际化经营与企业透明度监管研究”(73200032) |
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| 摘 要： | 文章利用拓展LLSV模型分析大股东效用函数变化,推测大股东持股比例、流通程度、股权集中度等与盈余管理幅度之间的关系。实证结果表明,随着股权流通程度的提高,大股东的盈余管理程度在降低,并且在股改后盈余管理的方向更加趋向于正向盈余管理;实施盈余操纵需要管理层的配合,在股权集中度较高的公司大股东更有能力实施盈余操纵。
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| 关 键 词： | 股权分置改革 大股东行为 盈余管理 |
Reform of Non-tradable Shares, Changes of Major Shareholders' Behavior, and the Extent of Earnings Management |
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| LEI Guang-yong,ZHANG Ying,JIN Xin.Reform of Non-tradable Shares, Changes of Major Shareholders'' Behavior, and the Extent of Earnings Management[J].Journal of Shanghai Lixin University of Commerce,2010,24(2):8-16. |
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| Authors: | LEI Guang-yong ZHANG Ying JIN Xin |
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| Institution: | Business School/a>;University of International Business and Economics/a>;Beijing 100029/a>;China |
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| Abstract: | This paper uses the LLSV extension model to analyze changes in utility function of major shareholders,and then predicts respectively the relationships of the share ratio of major shareholders,degree of circulation,ownership concentration to the extent of earnings management. The empirical evidence supports that:(1) extent of earnings management by major shareholders decreases with the increase of degree of circulation,and major shareholders tend to adopt positive earnings management; (2) to manipulate earni... |
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| Keywords: | reform of non-tradable shares major shareholders' behavior earnings management |
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