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近年来随着我国资本市场的发展和完善,CFO在公司中的治理效应逐渐凸显,本文以2012~2014年我国上市公司数据为样本,实证检验高管股权激励与盈余管理的关系。结果表明:高管股权激励的程度与盈余管理程度显著正相关,CEO与CFO的股权激励差异额与盈余管理呈正相关关系。基于此,本文认为应提高CFO的管理地位,对CEO的权力形成牵制,从而减少盈余管理中的股权激励动机。
In recent years, with the development and improvement of China’s capital market, the effect of CFO governance in the company gradually highlights. This paper takes the data of Chinese listed companies from 2012 to 2014 as a sample to test empirically the relationship between executive incentive and earnings management. The result shows that there is a significant positive correlation between the degree of executive incentive and the degree of earnings management. There is a positive correlation between the difference between CEO and CFO and earnings management. Based on this, this paper argues that the management position of CFO should be improved and the power of CEO should be restrained so as to reduce the motivation of equity incentive in earnings management.