| In October 2009, China’s Growth Enterprise Market(GEM) was finally succeeded after ten years of frustration.By the end of November 2,2015, 498 companies has successfully listed on GEM, the rapid growth of GEM also makes the companies become the centrality of many people. The ownership of these companies’ would gradually vanish after they listed on GEM, agent problem between large shareholders and minority shareholders,shareholders and managements also aroused.So, evaluating the ownership structure and accounting conservatism of these listed companies is getting more and more significant.On the influence of ownership structure to accounting conservatism, domestic scholars mainly aims at the companies which is listed on the main board market, very few studies specifically for GEM.Compared with the main board market, the companies listed on GEM has its own characteristics,and those companies are special in the ownership structure, ownership concentration degree and shareholders balance. So,whether there is any accounting conservatism listed on GEM ? What effect will bring ?In order to solve the above problems,the paper select the data for GEM listed companies of 2011-2014 as sample, using empirical study to proof the relationship between them from the ownership structure, ownership concentration and equity restriction.Hope enrich related research results through the study of this paper.The conclusion of this paper are mainly as follows:First of all, the accounting conservatism exists in the GEM. Secondly,The results from the ownership structure,ownership concentration and equity restriction are:(1)The Legal person share proportion of the companies listed on GEM and the accounting conservatism have positive correlation.(2)The tradable share proportion of the companies listed on GEM and the accounting conservatism also have positive correlation(3)The proportion of executives holding of the companies listed on GEM and the accounting conservatism have negative correlation.In addition, These companies’ ownership concentration and the accounting conservatism have negative correlation.Finally,the equity restriction and the accounting conservatism have positive correlation.The contribution of this paper are mainly as follows:(1) the research perspective is relatively new.Different from previous studies, this paper choice GEM as the object of study.(2) combined with the property of these companies listed on GEM, the paper is going to study from three aspects :the ownership structure,ownership concentration and equity restriction.(3) To the ownership structure,I put Executives share ratio with other quotas to be the equity property’s variable. |
