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- 2017
社会责任与市场竞争对盈余管理影响的实证研究
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Abstract:
以沪深两市2008-2013年自愿披露社会责任报告的上市公司为研究样本，运用实证检验发现企业社会责任信息披露与盈余管理程度存在显著的正向关系.进一步地研究表明，对于处于市场竞争度较低的企业，其在进行负向应计利润盈余管理时，企业社会责任信息披露与盈余管理程度的正向关系更为显著.说明此类企业更倾向于利用CSR信息披露的信号传递功能，缓和盈余管理所带来的委托代理问题，从而实现公司价值最大化.研究从宏观及微观两个视角为监管方和企业提供了相应政策建议.
In an empirical study of the listed companies of voluntary disclosure in the Corporate Social Responsibility Report (CSRR) (2008-2013) from the stock markets of Shanghai and Shenzhen we find a significant positive relationship between CSR and EM (earning management). A further study shows that this positive relationship is more significant in private corporations than in state-owned enterprises when the firms are at a lower level of competitive market and adopt negative accrued earning management. This result suggests that private corporations are more likely to use CSR to conceal their purpose of EM
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