【摘要】 文章以2010-2013年沪深两市的上市公司为对象,研究了董事长和总经理的变更对盈余管理程度的影响,并进一步探索了股东和董事会治理差异对两者关系的作用机制。结果表明:管理者在正常离职前的一年至两年内会进行盈余操纵,且正常变更前一年的盈余管理程度比变更前两年高。另外,股东和董事会治理水平的差异会显著影响管理者变更与盈余管理的关系,即股权集中度较低或董事会规模较小的情况下,管理者进行盈余管理的程度更大。更多还原

【Abstract】 By taking the listed companies in Shanghai and Shenzhen stock markets from 2010 to 2013 as the object,this pa-per studies the impact of chairman and general manager’s turnover on earnings management,and further explores the mecha-nism of different shareholders and board governance on the relationship between chairman and general manager’s turnoverand earnings management. The results show that the managers will manipulate earnings within a year to two years before theirnormal leave,and the earnings management level of the previous year is higher than that in two years ago. In addition,thedifference of shareholders and board governance has a significant impact on the relationship between managers’ turnover andearnings management,namely managers’ earnings management level is higher in companies which have a lower ownershipconcentration or smaller board size.更多还原