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政治关联作为上市公司应对市场失效的一种替代机制,引发了学者们的重视。本文以2011-2013年的沪深两市A股上市公司的经验证据,验证了政治关联与盈余管理方式的关系。研究表明,政治关联会导致企业既选择了应计盈余管理方式还选择了真实的盈余管理方式。同时,由于高管政治关联的存在导致企业还更倾向于选择真实盈余管理方式。基于此,本文提出了相应的政策建议。
As an alternative mechanism for listed companies to deal with market failure, political connection has drawn the attention of scholars. Based on the empirical evidence of A-share listed companies in Shanghai and Shenzhen in 2011-2013, this paper verifies the relationship between political connection and earnings management. Research shows that political affiliations will lead enterprises to choose not only accrued earnings management but also real earnings management. At the same time, due to the existence of senior political association, enterprises also prefer to choose the real earnings management. Based on this, this paper put forward the corresponding policy recommendations.