Research On Ownership Structure's Impact In Listed Power Companies On Earnings Management

Electric power industry is of the basic importance and antecedence in our country economy. Electricity is both the producing and the living material. From the sequence of the industry, electric power industry provides the development of the other industry, such as traffic, correspondence industry. If there is any problem in the providence of the electricity, this will cause serious problem. From the coverage area, Electricity has the important relationship with people's life. Through the snow disaster of large coverage this year, we can deeply realize the importance of electricity security.Electric power listed company has the important status and has the special ownership structure. Therefore, how does the special ownership structure affect the accounting information disclosure? Furthermore, how to affect the earnings management? This thesis adopts Electric power listed company as the research object, along the clue"ownership structure—governor structure—accounting information—earnings management", makes some research and gives some advice both theoretically and practically.The thesis adopts academic and experimental ways. Firstly, the thesis has a review about the related literature and got some inference: the association between earnings management and block holder ownership follows a U relation, the convergence of ownership confines earnings management; a positive relation is founded between earnings management and government ownership; no evidence shows the ownership of manager can affect earnings management. The circulating stock ownership can confine the earnings management to some extent. Then the thesis makes a design, puts forward hypothesis and constructs relevant model.This thesis adopts electric power listed company during 2002-2006 as a research sample. After combination the theory analysis and experienced test on the topic that the relation between earnings management and ownership structure, the thesis draws some conclusions: the association between earnings management and block holder ownership follows a U relation, the convergence of ownership can confine earnings management; a positive relation is founded between earnings management and government ownership; no evidence shows the ownership of manager can affect earnings management. The circulating stock ownership can confine the earnings management to some extent.At the end, based on these conclusions the thesis gives some suggestions about the information disclosure of Chinese stock market after the reform on slit share structure.