盈余管理的利益相关者分类研究

在考虑利益相关者共同参与公司治理的情况下,利用2007—2011年我国A股上市公司的数据,实证分析了上市公司的盈余管理与高管、董事、监事、股东、债权人、供应商、分销商、员工、政府和社区的关系。研究结果显示:高管、独立董事、供应商和股东与盈余管理正相关;董事和债权人与盈余管理负相关;监事和分销商与盈余管理相关但不显著;影响盈余管理的主要利益相关者是供应商、股东、高管和债权人。根据实证研究结果,将影响盈余管理的利益相关者划分为激励型、约束型和综合型三类,并提出相关的治理意见。

Research on Classification of Stakeholders Influencing Earning Management

Considering the mutual participation of stakeholders,this paper uses the data of A-share listed companies in China during 2007-2011 to study empirically the relationship between earning management and eight kinds of stakeholders,namely senior executives, directors, supervi- sors, shareholders, creditors, suppliers, distributors, employees, government and community. Then result shows as follows .. senior executives, independent directors,suppliers and shareholders are positively related to earning management ; directors and creditors are negatively related to earning management, supervisors and distributors are not significantly related to earning management;the major stakeholders influencing earning management are suppliers, executives, shareholders and creditors. Then according the relationship with earning management, it classifies the stakeholders being related to earning management into three types as incentive, constraint and comprehensive, and presents the recommendation of governance.