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文章以2007-2013年我国沪深两市A股上市公司为研究样本,从行业竞争视角考察了行业竞争激烈程度、公司竞争能力以及产权性质对上市公司盈余管理的影响。研究发现:(1)当行业竞争程度较低时,行业竞争与上市公司盈余管理呈负相关关系,即行业竞争体现出外部治理机制;(2)当行业竞争程度较高时,行业竞争与上市公司盈余管理呈正相关关系,即行业竞争体现出外部诱导作用;(3)在特定的行业内,当公司处于竞争劣势时,随着行业竞争的加剧,公司会进行更多的盈余管理;(4)考虑产权性质的影响,当国有企业处于竞争劣势时,随着行业竞争的加剧,处于竞争劣势的国有企业相对于竞争优势的国有企业会使用较多的应计盈余管理和真实盈余管理,而该差异在非国有企业中却不显著。上述结论可为投资者、政府等监管部门制定对策提供参考依据,有助于实现我国经济转轨的健康有序进行。
The article takes the 2007-2013 A-share listed companies in Shanghai and Shenzhen stock market as the research sample, and examines the impact of competition in the industry, the competitiveness of the company and the property right on the earnings management of listed companies from the perspective of industry competition. The results show that: (1) When the competition degree in the industry is low, the competition in the industry is negatively correlated with the earnings management of the listed companies, that is, the competition in the industry reflects the external governance mechanism; (2) When the competition in the industry is high, the industry competition and the market Corporate earnings management is positively correlated, that is, the industry competition reflects the role of external guidance; (3) in a specific industry, when the company is at a competitive disadvantage, the company will conduct more earnings management as the competition in the industry intensifies; (4) Considering the nature of property rights, when state-owned enterprises are in a competitive disadvantage, state-owned enterprises in a competitive disadvantage will use more accrued earnings management and real earning management as compared with state-owned enterprises with competitive advantages as the competition in the industry aggravates The difference is not significant in non-state-owned enterprises. The above conclusion can provide a reference basis for the regulatory authorities such as investors and governments to formulate countermeasures and help to realize the healthy and orderly conduct of China’s economic transition.