财经理论与实践
財經理論與實踐
재경이론여실천
The Theory and Practice of Finance and Economics
2010年
4期
48~52
,共null页
年度报酬 股权激励 薪酬业绩敏感性 盈余管理
年度報酬 股權激勵 薪酬業績敏感性 盈餘管理
년도보수 고권격려 신수업적민감성 영여관리
Annual Pay; Share Incentives; Sensitivity of Performance-related Compensation; Earnings Management
以中国国有控股上市公司为样本,从盈余管理对高管薪酬及其薪酬业绩敏感性的影响两方面,研究高管薪酬激励与盈余管理的关系,实证检验表明在调高操控性应计利润情况下,盈余管理程度分别与管理者的年度报酬水平和股权激励呈正相关关系,另外,盈余管理对薪酬业债敏感性也有正向影响,据此提出了有效控制盈余管理行为的政策建议。
以中國國有控股上市公司為樣本,從盈餘管理對高管薪酬及其薪酬業績敏感性的影響兩方麵,研究高管薪酬激勵與盈餘管理的關繫,實證檢驗錶明在調高操控性應計利潤情況下,盈餘管理程度分彆與管理者的年度報酬水平和股權激勵呈正相關關繫,另外,盈餘管理對薪酬業債敏感性也有正嚮影響,據此提齣瞭有效控製盈餘管理行為的政策建議。
이중국국유공고상시공사위양본,종영여관리대고관신수급기신수업적민감성적영향량방면,연구고관신수격려여영여관리적관계,실증검험표명재조고조공성응계리윤정황하,영여관리정도분별여관리자적년도보수수평화고권격려정정상관관계,령외,영여관리대신수업채민감성야유정향영향,거차제출료유효공제영여관리행위적정책건의。
By obtaining a sample of Chinese state-owned listed companies,this paper studies the relationship between top-managerial compensation and earning management from the impact of earning management on top-managerial compensation and sensitivity of performance-related compensation.The empirical examination finds that,in the case of the discretionary total accruals adjusted to increase reported earnings,there is a significant positive correlation between executive annual pay and earnings management,earnings management is positively related to top-managerial share incentives,in addition,earnings management has positive effect on sensitivity of performance-related compensation.Based on that,we put forward a series of suggestions to control earnings management effectively in the end.
