摘要
本文以A股上市公司为样本,考察了十八大开启的反腐治理这一外生事件对企业应计盈余管理、真实盈余管理和分类转移盈余管理等三类行为替代关系的冲击和影响,研究发现反腐风暴冲击下企业一方面降低了应计盈余管理行为,但另一方面转而采用更为隐蔽的真实盈余管理和分类转移盈余管理行为。研究发现,反腐风暴冲击下三种盈余管理行为的替代效应也存在非国有企业。但相比非国有企业,国有企业采用应计盈余管理下降的幅度,采用真实盈余管理和分类转移盈余管理上升的幅度均显著大于非国有企业。进一步研究发现,反腐风暴显著降低了企业政治关联是三类盈余管理行为产生替代的重要途径。
Based on the sample data from Chinese A-share listed companies, we examine the impact of the exogenous event initiated by the 18 th CPC National Congress on the three types of behavioral substitution relationships such as accrual earnings management, real earnings management and classification shifting earnings management. The research finds that under the impact of the anti-corruption storm, on the one hand, enterprises reduce accrual earnings management behaviors.On the other hand, they switch to more hidden earnings management behaviors, such as real earnings management and classification shifting earnings management. The study finds that the substitution effect of three types of earnings management behaviors under the impact of the anti-corruption storm also exists in non-state-owned enterprises. However, compared with non-state-owned enterprises, the decline in accrual earnings management adopted by state-owned enterprises, and the increase in earnings management using real earnings management and classification shifting earnings management are significantly larger than those of non-state-owned enterprises. Further research finds that the significant reduction of corporate political connections after the anti-corruption storm is an important way to generate the substitution effect of the three types of earnings management behaviors.
作者
雷新途
汪宏华
Lei Xintu;Wang Honghua
出处
《会计研究》
CSSCI
北大核心
2019年第12期40-45,共6页
Accounting Research
基金
国家社会科学基金(16ZDA030)
浙江省社科规划项目(18NDJC203YB)
浙江省自然科学基金(LY18G020019)
浙江省哲学社会科学重点研究基地(技术创新与企业国际化研究中心)的资助。
关键词
反腐风暴
盈余管理
替代机制
Anti-corruption Storm
Earnings Management
Alternative Mechanism
