【摘要】 对公司治理系统中的主要特征变量与盈余质量关系的统计分析结果表明:独立董事的比例和盈余质量之间存在倒U型曲线关系;董事会会议次数和盈余质量正相关;而董事会规模和盈余质量的关系不显著;债务约束不构成中国上市公司盈余管理的动机;而提高净资产收益率的动机非常明显.政策结论在于:单纯的独立董事制度改革对提高盈余质量的作用有限,公司治理改革必须配合市场改革措施才能更有效地发挥提高盈余质量的作用.更多还原

【Abstract】 The statistic analysis on the relationship between earnings quality and key characteristic variables in corporate governance shows that there exists an inverse U relation between independent director percentage and earning quality,and the more frequent the boards meet,the higher earning quality the firms show.The increase of board size,however,can not increase the earnings quality.The debt hypothesis of earnings management is not been approved,while the motivation of improving ROE is significant.It is concluded that the only reform of independent directors may not improve the earnings quality much;the reform of corporate governance together with stock market reform can improve the earnings quality effectively.更多还原