摘要
以19个省份2015—2019年重污染行业上市公司为样本,采用多断点回归方法,检验在碳达峰碳中和目标下企业外部空气污染程度对企业内部盈余管理行为的影响,以及股东网络关系对这种影响的调节作用。实证结果表明:空气污染越严重,企业越倾向于减少盈余管理;当政府加强空气质量监管时,更是如此。股东网络关系对空气污染与企业盈余管理之间关系有调节作用,且随着空气污染指数增加,调节作用由正变为负。进一步研究发现,股东网络关系对向上盈余管理与向下盈余管理的调节作用不同。通过分析,找到了企业外部空气污染对企业内部财务行为之间的关系,以及股东网络对其的调节作用,完善了企业财务行为分析的视角。
By taking the listed companies in heavy pollution industries in 19 provinces from 2015 to 2019 as a sample and adopting multi-breakpoint regression method,this study tests the impact of enterprises’external air pollution degree on their internal earnings management behavior under the goal of carbon peak and carbon neutralization as well as the moderating effect of shareholder network relationship on this impact.The empirical results show that the more serious the air pollution is,the more the enterprises tend to reduce earnings management,which is especially true when governments strengthen air quality supervision,and that shareholder network relationship has a regulating effect on the relationship between air pollution and enterprise earnings management,and with the increase of air pollution index,the regulating effect changes from positive to negative.Further research finds that the regulating effect of shareholder network relationship on upward earnings management and downward earnings management is different.Through the above analysis,this study identifies the relationship between enterprises’external air pollution and their internal financial behavior as well as the regulating role of shareholder network on such a relationship,and therefore perfects the perspectives of enterprises’financial behavior analysis.
作者
罗栋梁
李克思
史先让
LUO Dongliang;LI Kesi;SHI Xianrang(School of Business, Jiangsu Normal University, Xuzhou 221116, China)
出处
《山东财经大学学报》
2022年第3期57-68,80,共13页
Journal of Shandong University of Finance and Economics
基金
教育部人文社会科学研究规划基金项目“企业过度负债背景下机构投资者替代负债监督的机制与路径研究”(15YJA630043)
国家自然科学基金青年项目“产品市场竞争、政治关联与银行贷款契约”(71602079)
江苏师范大学研究生创新计划项目“空气污染与企业盈余管理——基于多断点的回归分析”(2020XKT436)。
关键词
碳达峰
空气污染
盈余管理
股东网络关系
carbon peak
air pollution
earnings management
shareholder network relationship
