摘要
本文利用深圳证券交易所A股上市的503家非金融行业公司构成的平衡面板数据,研究了大非减持与真实盈余管理的关系.研究发现,大非在减持过程中存在明显的管理真实盈余的行为,发生大非减持的上市公司有更大的倾向管理真实盈余,而且大非减持股份比例越高的上市公司,对真实盈余管理的程度也越高.
This paper investigates the relationship between the reduction of majority non-tradable share and the real earnings management, employing the panel data of 503 listed companies on Shenzhen Stock Market during 2007-2010. We find that the firms on the process of reduction have obvious real earning management behavior. The firms are more likely to manage reM earnings when they have the reduction. What＇s more, the degree of real earning management will be higher if the firms＇ ratio of reduction of majority non-tradable share is higher.
出处
《数理统计与管理》
CSSCI
北大核心
2014年第1期181-190,共10页
Journal of Applied Statistics and Management
基金
教育部新世纪优秀人才项目(NCET-07-0905)
中央高校基本科研业务一般项目(CDJXS11021113)
中央高校基本科研业务重大自主项目(CDJSK1001)
关键词
真实盈余管理
大非减持倾向
大非减持力度
real earning management, propensity to reduction, degree of reduction
