CAJ | 학술논문

以我国2005-2012年沪深两市A股上市公司7243个观测值为样本,从CFO的性别、年龄、专业资格认证及学历等特征对上市公司真实盈余管理的影响进行了实证检验。实证结果表明：CFO的年龄与真实盈余管理水平负相关,说明随着年龄的增长,CFO更为倾向采取稳健、谨慎的财务政策；女性CFO的上市公司真实盈余管理水平低于男性CFO的上市公司；CFO的学历和专业化程度越高,发生真实盈余管理行为越少。本文的研究结论为CFO特征影响上市公司真实盈余管理的研究提供了增量的经验证据。
이아국2005-2012년호심량시A고상시공사7243개관측치위양본,종CFO적성별、년령、전업자격인증급학력등특정대상시공사진실영여관리적영향진행료실증검험。실증결과표명：CFO적년령여진실영여관리수평부상관,설명수착년령적증장,CFO경위경향채취은건、근신적재무정책；녀성CFO적상시공사진실영여관리수평저우남성CFO적상시공사；CFO적학력화전업화정도월고,발생진실영여관리행위월소。본문적연구결론위CFO특정영향상시공사진실영여관리적연구제공료증량적경험증거。
By taking A-share listed companies from 2005 to 2012 as sample, this paper empiri-cal y tests the impact of the cognitive structure on the real earnings management. The cognitive structure of CFO is measured by age, sex and education background. The results show that the CFO’s age is negatively correlated with real earnings management level. As the growth of the age, the CFO is more inclined to take steady and prudent financial policies. The listed companies with female CFO have lower possibility of real earnings management. CFOs have high degree or relevant professional titles, the company’s real earnings management level is low. This paper provides empirical evidence about the relationship between CFO characteristics and earnings management, which has important implications to increase the quality of accounting information.