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论文编号：	6754
作者编号：	1120100753
上传时间：	2014/12/5 18:56:24
中文题目：	产品市场竞争与真实盈余管理
英文题目：	Product Market Competition and Real Earnings Management
指导老师：	周晓苏
中文关键字：	真实盈余管理；应计盈余管理；产品市场竞争；终极控制人；制度环境
英文关键字：	Real Earnings Management; Accrual Earnings Management; Product Market Competition; Ultimate Controller; Institutional Environment
中文摘要：	盈余管理是会计和审计领域众多学者以及实务工作者研究和思考的重要问题，几十年来一直被高度关注，而且这种趋势依然在持续。目前，国内外学术界对于应计盈余管理的研究已经取得了非常丰硕的成果，而对于真实盈余管理的研究仍然处于起步阶段。在2006年之前，学者们针对真实盈余管理的某些分支进行了有益的探索，但是在理论阐述和模型构建上均缺乏系统性。2006年，Roychowdhury在《真实盈余管理》一文中构建了一组测度真实盈余管理程度的模型，并对真实盈余管理的相关理论进行了系统的阐述，为系统的研究真实盈余管理奠定了基础。此后，Roychowdhury构建的真实盈余管理测度模型被广泛的引用，真实盈余管理也逐渐受到国内外会计和审计界学者们的重视，并取得了一系列有影响的研究成果。 现有的研究文献发现产品市场竞争会对企业的投资、融资、盈余预测、信息披露以及应计盈余管理等行为产生重要影响，然而产品市场竞争会对企业的真实盈余管理行为产生怎样的影响却依然是一个未解之谜。为此，本文以产品市场竞争与真实盈余管理为题，主要回答如下问题：其一，产品市场竞争与真实盈余管理之间存在怎样的关系？其二，产品市场竞争与真实盈余管理之间的关系是否随着终极控制人特征的不同而存在差异？其三，产品市场竞争与真实盈余管理之间的关系是否因制度环境的不同而存在差异？ 为此，本文以2007-2012会计年度沪深两市的上市公司作为基础样本，并在此基础上计算出2009-2012会计年度各个上市公司的真实盈余管理数值。进而，在理论分析的基础上，通过实证检验对所提的研究假设进行了验证。实证检验结果显示：1.产品市场竞争与真实盈余管理之间存在显著的正相关关系。2.产品市场竞争与真实盈余管理之间的关系随着终极控制人特征的不同而存在差异。3.好的制度环境弱化了产品市场竞争与应计盈余管理之间的正相关关系，然而却增强了产品市场竞争与真实盈余管理之间的正相关关系。 本文可能的创新点在于：首先，通过理论分析和实证检验探究产品市场竞争影响真实盈余管理的路径和方向，填补了产品市场竞争与真实盈余管理关系研究的空白。其次，将终极控制人因素引入到产品市场竞争与真实盈余管理关系的研究框架中，考察产品市场竞争与真实盈余管理之间的关系是否随着终极控制人特征的不同而存在差异，具有较强的现实意义。最后，将制度环境引入到产品市场竞争与真实盈余管理关系的研究框架中，考察不同制度环境下产品市场竞争与真实盈余管理之间的关系，以及相关的盈余管理方式选择。这丰富了制度环境影响中观与微观经济关系的现有理论，也是对现有的真实盈余管理文献的重要补充。
英文摘要：	Earnings management is one of the most important topics concerned by many scholars and practitioners in the field of Accounting and auditing, and received full attention over the past decades. Furthermore, this trend is still ongoing. Now, there are many high quality papers for Accrual earnings management in the academic field. However, the study for real earnings management is still in its infancy. Before 2006, scholars were did some useful exploration for some branch of real earnings management, but it was not systematic in theory and model. In 2006, the literature of earnings management through real activities manipulation was published. In this paper, Roychowdhury constructed a set of models to measure real earnings management, and elaborated real earnings management theories systematically, which play a fundamental role for systems study real earnings management. After 2006, the real earnings management models have been cited widely and real earnings management is being taken seriously by domestic and foreign accounting and auditing scholars gradually, and a series of influential papers had been written. Existing literatures found that product market competition have a significant influence on Investments, financing, analysts’earnings forecasts, and information disclosing and accrual earnings management and so on. However, there is no paper tell the relationship between product market competition and real earnings management. So, this paper uses product market competition and real earnings management as title and to answer the following questions. First, what kind of relationship exists between product market competition and real earnings management? Second, whether the relationship between product market competition and real earnings management varies with ultimate controller? Third, whether the relationship between product market competition and real earnings management varies with institutional environment? To answer the above questions, this paper use Shanghai and Shenzhen listed companies as basic samples between 2007 and 2012, and by which calculate the dataof real earnings management of each listed companies between 2009 and 2012. Based on the theoretical analysis, this paper tests the hypotheses by empirical methods. Empirical results show that: 1. there is a significant positive correlation between product market competition and real earnings management. 2. The relationship between product market competition and real earnings management varies with ultimate controller. 3. Good institutional environment can weaken the positive correlation between product market competition and accrual earnings management; however strengthen the positive correlation between product market competition and real earnings management. The possible innovations of this paper can be summed up as follows. First, by theoretical analysis and empirical test, this paper explores the path and direction of product market competition influence on real earnings management. So it makes up the theoretical and empirical gaps between the correlation of product market competition and real earnings management. Second, this paper incorporate ultimate controller into the framework of product market competition and real earnings management, and examine whether the relationship between product market competition and real earnings management various with ultimate controller, which have big practical significance. Third, this paper incorporate institutional environment into the framework of product market competition and real earnings management, and examine the relationship between product market competition and real earnings management under various institutional environment, and earnings management method selection between real and accrual earnings management. So, this paper enriches the theories of environment impact the relationships between meso and micro economic relation, and is also an important complement to the existing real earnings management literatures.
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