管理者过度自信与盈余管理关系研究--基于董事会治理视角实证检验
首发时间:2013-12-26
摘要:基于行为财务理论,本文选取我国上市公司A股市场作为研究样本,在董事会治理的视角下,考虑了管理者过度自信与盈余管理之间的关系。研究结果表明:(1)管理者过度自信与盈余管理呈正相关关系,管理者越过度自信,其进行盈余管理的程度越高。(2)完善的董事会治理结构会影响管理者过度自信与盈余管理之间的关系,董事会规模越大、董事会的独立性越高、两职分离的董事会领导结构,能降低因管理者过度自信而诱发的盈余管理水平。(3)董事会会议频率的大小,不能降低因管理者过度自信而诱发的盈余管理水平。
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Research on the Relationship between Managerial Overconfidence and Earnings Management ---Based on Board Governance Perspective
Abstract:Based on behavioral finance theory, this paper selects listed companies in China A-share market as the research sample, takes into account the relationship between managerial overconfidence and earnings management from the perspective of Board governance. The research results are listed as followed. First of all, the relationship between managerial overconfidence and earnings management is positive , the more the managers are overconfident, the higher the degree of earnings management will make. Secondly, perfect Board governance structure will affect the relationship between managerial overconfidence and earnings management, and the greater the size of the Board, the higher the independence of the Board, the Board leadership structure of separating the two roles, will reduce earnings management level induced by managerial overconfidence. Thirdly, the size of Board meeting frequency can not reduce the earnings management level due to managerial overconfidence .
Keywords: Board Governance Managerial Overconfidence Earnings Manageme
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