内部控制信息披露质量与盈余管理行为的关系分析——来自沪市制造业公司的证据-analysis of the relationship between the quality of internal control information disclosure and earnings management behavior - evidence from shanghai manufacturing company.docxVIP

贵州大学硕士学位论文 内部控制信息披露质量与盈余管理行为的关系研究----来自沪市制造业公司的证据摘要本文从内部控制披露质量的角度来研究上市公司盈余管理行为的特征,我 们根据监管机构对上市公司内部控制披露要求对 2006 年沪市制造业 425 家公司 进行分类，从中选取了内部控制完全披露和无披露的两组公司的样本数据,分别 建立 2003-2006 年面板数据的琼斯模型来估量这两类样本公司盈余管理的程度, 然后加入影响盈余管理的因素(现金流量,负债率,净资产收益率,公司规模,大 股东持股比例)作为变量建立多元回归模型，最后通过邹氏检验比较对于在这些 相同因素的影响下两组样本盈余管理行为特征的差异性,通过研究表明两组内 部控制披露不同的公司样本进行盈余操纵的方式表现出各自的特征，体现在两 类公司对现金流量的操纵能力都比较弱，内控披露较差的公司极有动机通过高 负债率来进行盈余管理,而内控控制相对完善的公司的动机不显著，为了争取配 股资格和防止“停牌”的危险,内部控制较差的公司比内部控制完善的公司更有 动机通过调整净资产收益率来进行盈余操纵。这些结论从一定程度来说我国上 市公司的内部控制披露质量对于遏制盈余管理操纵是有一定成效的,对于广大 的投资者来说,我们可以把上市公司的内部控制披露水平作为衡量盈余管理程 度的证据之一，对于监管机构来说，可以通过强化内部控制披露水平优化上市 公司内部治理机制，使我国证券市场在良好有序的环境下有效地运行，达到社 会资源的最优配置。关键字: 内部控制 盈余管理 琼斯模型 面板数据 邹氏检验1Research on the relationship between internal control disclosure information and the behavior of earnings management--evidence from the manufacturing companies listed in Shanghai stock exchange marketAbstractThis article studies the characteristics of earnings management behavior from the angle of listed company’s internal control disclosure. According to the requirements on listing company’s internal control disclosure made by the regulatory authorities, we classify 425 manufacturing companies listed in Shanghai Stock Exchange Market into two groups, i.e., companies with full internal control disclosure and that without disclosure, and establish the Jones model about the panel data which were dated from 2003 to 2006 and selected from these two groups respectively for the purpose of measuring on the earnings management performance of these two sampling groups. Then, we establish multiple regression model by taking into account the influential factors such as cash flow, assets-liabilities ratio, ROE, the company scale, big shareholder as variables, and finally, compare the differences of these two sampling groups through Chow test on their characteristics of earnings management behavior under the same influential factors. It shows that both these two groups are weak at manipulating their cash flow, and co