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本文在综合分析了国内外学者对公司治理、机构投资者和盈余管理三者关系的基础上,认为机构投资者在一定程度上参与了公司治理,其持股比例越高则在公司治理中发挥的作用越大,越有助于提高公司治理水平。在公司治理水平高的公司,盈余管理行为受到有效的监督;而公司治理水平低的公司则为盈余管理提供了环境和机会。
Based on a comprehensive analysis of the relationship between domestic and foreign scholars on corporate governance, institutional investors and earnings management, this paper argues that institutional investors have participated in corporate governance to a certain extent and that the higher the percentage of their holdings is, the more they hold corporate governance The greater the role of the more helpful to improve the level of corporate governance. Earnings management is effectively supervised in companies with high levels of corporate governance while companies with low levels of corporate governance provide the environment and opportunities for earnings management.