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与以往的研究不同,我们将公司治理因素分成管理者可控的和不可控的两个部分,然后研究管理者可控部分即公司特殊治理水平对财务报告稳健性产生的影响。在整合了各种无条件公司治理机制的基础上,控制了其中管理者不可控的部分后得到了公司特殊治理变量。通过对我国A股上市公司2002—2006年的数据的分组检验和坏消息增量反应系数的显著性检验,发现特殊治理水平越高的公司其财务报告的稳健性水平也越高。
Different from previous studies, we divide corporate governance into two parts: controllable and uncontrollable. Then we study the impact of the controllable part of the manager, that is, the level of special corporate governance on the robustness of financial reporting. On the basis of integrating a variety of unconditional corporate governance mechanisms, special variable of corporate governance was obtained after controlling the uncontrollable parts of managers. Through the test of group test of the data of A-share listed companies in China from 2002 to 2006 and the significant test of the incremental response coefficient of bad news, it is found that the higher the level of special governance, the higher the robustness of financial reports.