摘要
以2014—2019年存在高管联结的沪深A股上市公司为研究样本,检验联结公司之间盈余管理传染效应,并兼论应计及真实两种盈余管理方式的选择问题。研究结果表明:第一,应计盈余和真实盈余均通过联结关系进行传染;第二,选择应计和真实盈余管理策略时,存在替代和互补的双重关系;第三,考虑到高管团队职务异质性,“治理圈”和“经营圈”联结关系中应计和真实盈余水平均显著正相关,“财务圈”仅应计盈余水平显著正相关。文章验证了盈余管理的社会网络关系传染效应,有助于增进监督机构和实务界透视联结公司盈余管理,改进监管方向和方法。
Using A-share listed companies in Shanghai and Shenzhen Stock Exchanges Markets from 2014 to 2019 as research samples,this paper examines the contagion effect of earning management among interlocked companies,and discusses the selection problem between accrued and real earnings management methods.The results show that,firstly,accrual earnings and real earnings are transmitted through interlocking relationship.Secondly,a dual substitution and complementation relation exist in the selection of accrual and real earnings management strategies.Thirdly,considering the heterogeneity of senior management team positions,the accrual and real earnings levels in the connection between the“governance circle”and the“business circle”are significantly positively correlated,while the accrual earnings levels in the“financial circle”are only significantly positively correlated.The paper verifies the contagion effect of social network relationship of earning management,and is conductive to supervisory institution and practitionersto understand earning management in social network relationship,and improve the direction and method of supervision.
作者
吕易
罗昆
LV Yi;LUO Kun(Anhui Normal University,Wuhu 241000;China University of Mining and Technology,Xuzhou 221000)
出处
《财贸研究》
CSSCI
北大核心
2022年第10期96-110,共15页
Finance and Trade Research
基金
安徽省哲学社会科学规划项目“混合所有制企业董事会文化多样性对企业创新的影响研究”(AHSKF2018D22)。
关键词
联结关系
盈余管理传染
应计盈余管理
真实盈余管理
interlocking relationship
earning management contagion
accrual earnings management
real earnings management
