【摘要】 本文研究了高管持股与盈余稳健性的协同效应与堑壕效应。研究发现,上市公司对盈余稳健性的需求与高管持股呈非线性的关系。在高管持股水平较低和较高的区间,高管持股具有协同效应,高管持股与盈余稳健性呈负相关关系;在高管持股的中间水平,高管持股具有堑壕效应,高管持股与盈余稳健性呈正相关关系。更多还原

【Abstract】 In the paper,we examine the effect of managerial ownership on financial reporting conservatism.Evidence is found that the relationship between managerial ownership and demand for accounting conservatism is no monotonic.Within the low and high levels of managerial ownership,managerial ownership is much negatively related to the accounting conservatism,which is consistent with the implication of alignment effect.Significantly positive relationship is found between managerial ownership and accounting conservatism,which is consistent with the implication of entrenchment effect.更多还原