产品市场竞争、董事会结构变化与盈余管理

›› 2018, Vol. 30 ›› Issue (4): 194-205.

产品市场竞争、董事会结构变化与盈余管理

姚宏, 贾娓, 郝小玉, 王丽杰

大连理工大学管理与经济学部, 大连 116024

收稿日期:2015-12-22 出版日期:2018-04-28 发布日期:2018-04-22
通讯作者: 姚宏(通讯作者),大连理工大学管理与经济学部副教授,硕士生导师,博士
作者简介:贾娓,大连理工大学管理与经济学部硕士研究生;郝小玉,大连理工大学管理与经济学部硕士研究生;王丽杰,大连理工大学管理与经济学部硕士研究生。
基金资助:
国家社会科学基金项目（16BGL147）；中国博士后科学基金项目（2013M530928）；辽宁省哲学社科规划项目（ZX20150520；L17BJY025）。

Product Market Competition, Change of Board Structure and Earnings Management

Yao Hong, Jia Wei, Hao Xiaoyu, Wang Lijie

Faculty of Management and Economics, Dalian University of Technology, Dalian 116024

Received:2015-12-22 Online:2018-04-28 Published:2018-04-22

摘要/Abstract

摘要：

本文基于竞争理论与公司治理理论，利用中国A股上市公司2007-2013年的经验数据，考察了董事会结构变化对产品市场竞争和盈余管理两者关系的当期及滞后影响效应。结果发现：信息观下的掠夺风险效应会诱发上市公司的盈余管理行为，且盈余管理程度随产品市场竞争程度的增加而增加；引入“董事会结构变化”这一调节变量后，则发现其对产品市场竞争诱发盈余管理的程度具有显著抑制作用，且该抑制作用能够跨期持续，彰显了董事会治理的必要性和有效性。研究表明，有效的董事会治理、不断完善的董事会结构以及有序的外部市场竞争，对于提高公司的盈余报告质量具有重要作用。

关键词: 产品市场竞争, 董事会结构, 盈余管理, 调节作用

Abstract:

Based on Competition Theory and Corporate Governance Theory, this paper uses empirical data of A-share listed firms in China in the period 2007-2013 to test the change of board structure's current and delayed effect on the relationship between product market competition and earnings management. The results show:The predatory risk effect under the information view will induce earnings management of listed companies, and the degree of earnings management increases with the degree of the product market competition. However, when we introduce the moderator which calls the change of board structure, we find that the change of board structure can significantly lessen the positive correlation between product market competition and earnings management. This inhibition effect can exist continuously during a short time, which underlines the necessity and effectiveness of board governance. The research shows that the effective board governance, complete board structure and good environment of external market competition play an important role to improve the quality of the company's earnings report.

Key words: product market competition, board structure, earnings management, moderating effect

姚宏, 贾娓, 郝小玉, 王丽杰. 产品市场竞争、董事会结构变化与盈余管理[J]. , 2018, 30(4): 194-205.

Yao Hong, Jia Wei, Hao Xiaoyu, Wang Lijie. Product Market Competition, Change of Board Structure and Earnings Management[J]. , 2018, 30(4): 194-205.

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