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真实盈余管理不同操纵方式对投资效率的影响研究——基于A股房地产行业的实证研究
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Abstract:
由于信息不对称及委托代理问题，使真实盈余管理的不同操纵方式对投资效率产生不同程度的影响。该研究以我国房地产行业为研究对象，利用stata17软件对我国房地产行业2003~2022年的真实盈余管理不同指标和投资效率进行实证研究。实证研究结果表明：真实盈余管理与投资效率呈负向相关，且不同操纵方式对投资效率影响程度不同。
Because of information asymmetry and principal-agent problems, different manipulation methods of real earnings management have different degrees of influence on investment efficiency. This study takes China’s real estate industry as the research object, and uses stata17 software to conduct empirical research on different indicators of real earnings management and investment efficiency of China’s real estate industry from 2003 to 2022. The empirical results show that real earnings management is negatively correlated with investment efficiency, and different manipulation methods have different effects on investment efficiency.
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