孙静思

摘要：探讨农业上市公司在其自身特有的行业环境之下股权结构和盈余管理之间的关系，发现和参与约束农业上市公司中存在的盈余操纵行为，帮助农业上市公司改善其股权结构，建立比较先进和完善的公司治理结构。结果表明，股权集中度与盈余管理呈倒U形关系;股权制衡度与盈余管理呈显著负相关关系;国有股持股比例与盈余管理呈显著正相关关系;管理层持股比例与盈余管理呈显著负相关关系;机构投资者持股比例与盈余管理呈显著负相关关系;股权流通性与盈余管理呈显著正相关关系。

关键词：盈余管理;农业上市公司;股权结构

中图分类号：F306         文献标识码：A

文章编号：0439-8114（2020）10-0173-05

DOI：10.14088/j.cnki.issn0439-8114.2020.10.040            开放科学（资源服务）标识码（OSID）：

Abstract： Explore the relationship between the equity structure and earnings management of agricultural listed companies under their own unique industry environment， discover and participate in the constraints of earnings manipulation behavior in agricultural listed companies and help agricultural listed companies improve their equity structure to establish a more advanced and perfect corporate governance structure. The results show that，the equity concentration and earnings management have an inverted U-shaped relationship; the equity balance degree have a significant negative correlation with earnings management; the proportion of state-owned stock ownership and earnings management are significantly positirely correlated ; the management shareholding ratio and earnigs management are siginficantly negatively correlated; the institutional investors' shareholding ratio and earnings management are significantly negatively correlated; the equity liquidity and earnings management are significantly positively correlated.

Key words： earnings management; agricultural listed companies; equity structure

農业是保障居民生活、促进经济发展的最重要的基础性产业。维护好农业产业，能够保障人民的基本生活，对于社会稳定和经济发展起到决定性作用。已有研究多集中在从投入产出效率、研发等角度对农业上市公司进行分析，对于公司治理结构的研究较少，本研究主要从改善公司治理结构的角度进行探究。

选择股权结构对盈余管理的影响作为切入点进行探讨，探究股权结构对盈余管理的影响，帮助农业上市公司建立和完善公司治理结构，能有效减少大股东侵占中小股东利益的现实情况，使财务报告从最初编制到对外披露的信息都尽量真实可靠，有助于防止盈余操纵行为的发生，还可为政府提供一些可操作的实施建议。……