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论文编号：	673
作者编号：	2120061980
上传时间：	2008/6/20 10:54:52
中文题目：	公司治理结构对盈余质量影响的实
英文题目：	The empirical research on the
指导老师：	周晓苏
中文关键字：	盈余质量;公司治理结构;董事会特
英文关键字：	Earnings quality;Corporate gov
中文摘要：	上市公司的会计信息，尤其盈余信息是股市各级各类投资者做出投资决策的主要依据，也是政府及证监部门进行监管调控的依据。但是，长期以来，困扰着我国证券市场的上市公司会计信息失真问题不仅会误导广大投资者，使其蒙受重大经济损失，同时也损害了上市公司的信誉，严重影响了我国证券市场的健康发展。因此，研究盈余质量具有极其重要的现实意义。盈余质量研究成为当前会计理论界与实务界共同关注的焦点，众多的研究主要集中在上市公司盈余质量评价和盈余质量影响因素研究这两个方面。 本文从盈余的变现性和持续性两个方面评价盈余质量，分别选取净利润现金差异率和资产线下项目比作为盈余质量的评价指标；同时，本文研究了公司治理结构因素对盈余质量的影响程度，公司治理结构因素中着重考虑了董事会特征和股权结构对盈余质量的影响，分别按照短期盈余质量和董事会特征、短期盈余质量和股权结构、长期盈余质量和董事会特征、长期盈余质量和股权结构的顺序构建了四个多元回归模型，利用2005年和2006年全部A股上市公司的财务数据和公司治理数据对模型进行回归验证。 另外，为了更加深入的研究董事持股比例与短期盈余质量、第一大股东持股比例与长期盈余质量之间的特殊关系，本文又构建了另外两个一元多次回归模型，分别考察了董事持股比例与短期盈余质量、第一大股东持股比例与长期盈余质量之间的曲线关系。研究结果表明以变现性为特征的短期盈余质量更多地受到董事会治理情况的影响，尤其是董事会持股比例与短期盈余质量的关系呈现出明显的二次曲线关系，其关系呈U字型。而以持续性为特征的长期盈余质量则更多地受到股权结构的影响，其中第一大股东持股比例与长期盈余质量的关系呈现倒U字型。
英文摘要：	The accounting information of listed company, especially the earnings information is the basis on which all kinds of investors of the stock market make an investment decision, as well as the basis on which government and other sections carry on their control. But, for long time, the accounting information distortion of the listed company which perplex the stock market will not only mislead most of the investors and make them suffer severe economic lose, but also injure the prestige of the listed company. Therefore, the research of the quality of the earnings has the realistic meaning. Research on the earnings quality is the focus of current accounting theory and practice sector, many studies focused on the evaluation earnings quality of listed company and factors affecting the quality of earnings. On the one hand, this thesis evaluates earnings quality from liquidity and sustainability, choose the difference between net profit and cash as the indicators of liquidity, select the item below line as the indicators of sustainability; On the other hand, this paper study the impact of corporate governance on earnings quality, especially board of director characteristics and ownership structure in accordance with the following sequence: short-term earnings quality and board of director characteristics, short-term earnings quality and ownership structure, long-term earnings quality and board of director characteristics, long-term earnings quality and ownership structure. In addition, this thesis establishes the other two regression equation to further explore the special relationship the share holdings of director and short-term earnings quality, as well as the relationship the share holdings of the first shareholder and long-term earnings quality. The results show that short-term earnings quality is more influenced by the board of director characteristics, U-type can describe their relationship. The relationship long-term earnings quality and the share holdings of the first shareholder are opposite with the former.
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