| 金字塔股权结构与盈余管理——基于民营上市公司的实证研究 |
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| 引用本文： | 汤颖梅,董静,王怀明.金字塔股权结构与盈余管理——基于民营上市公司的实证研究[J].商业经济与管理,2011(12). |
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| 作者姓名： | 汤颖梅 董静 王怀明 |
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| 作者单位： | 1. 南京农业大学经济管理学院,江苏南京,210095
2. 中国银行业监督管理委员会白城监管分局,吉林白城,137000 |
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| 基金项目： | 教育部人文社会科学基金，江苏省高校哲学社会科学研究基金 |
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| 摘 要： | 文章以我国民营上市公司2004-2010年的数据为样本,研究了金字塔股权结构对盈余管理的影响.研究发现:金字塔股权结构的控制层级数与盈余管理之间呈正相关关系；现金流权与盈余管理呈负相关关系,最终控制人所拥有的现金流权比例越高,控制层级数对盈余管理的影响会被降低；最终控制人投票权与现金流权的分离程度加剧了控制层级对盈余管理的影响.
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| 关 键 词： | 金字塔股权结构 控制层级数 盈余管理 |
Pyramidal Ownership Structure and Earning Management——A Case Study Based on the Private Listed Companies |
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| TANG Ying-mei,DONG Jing,WANG Huai-ming.Pyramidal Ownership Structure and Earning Management——A Case Study Based on the Private Listed Companies[J].Business Economics and Administration,2011(12). |
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| Authors: | TANG Ying-mei DONG Jing WANG Huai-ming |
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| Institution: | TANG Ying-mei1,DONG Jing2,WANG Huai-ming1(1.College of Management and Economics,Nanjing Agricultural University,Nanjing 210095,China,2.China Banking Regulatory Commission Branch of Baicheng,Baicheng 137000,China) |
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| Abstract: | This paper,based on the data of our private listed companies,during 2004-2009,studies the effect of pyramidal ownership structure on the earnings management.Research results show: the correlation between the layers of pyramidal ownership structure and earnings management is significantly positive;the correlation of cash flow right proportion and earnings management is negative,i.e.,the higher the cash flow right by the ultimate controllers,the lower effect of controlling layers on earning management;and the... |
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| Keywords: | pyramidal ownership structure controlling layers earnings management |
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