Research On The Impact Of Corporate Governance In Listed Companies On Real Earnings Management

With the further development of China's capital market,investors continue to enhance the professional ability of listed company,strengthen supervision of the financial report,especially since China promulgated the new accounting standards,makes the traditional sense of low cost,easy operation of the accrual earnings management activities of the implementation of the space is reduced,concealment the stronger activity of real earnings management has gradually become the mainstream of earnings manipulation of listed companies.The listed companies over the implementation of real earnings management will mislead the users of accounting information to make the wrong decisions,damage the interests of users of accounting information;cause deviation from the optimal decision for the sustainable management of the potential hazard of the enterprise;the capital market is not conducive to the rational allocation of resources.Destroy the capital market healthy and orderly development of the real level of earnings management and corporate governance structure of listed companies is closely.The design and implementation of a reasonable corporate governance structure is conducive to standardize the management of enterprises,to play the effectiveness of internal control,to inhibit the implementation of real earnings management activities of listed companies have an important role.Based on the related research achievements of the governance structure of listed companies and real earnings management as a starting point,in the current situation of research at home and abroad comprehensively using the method of literature,based on a detailed introduction,this paper expounds the connotation of corporate governance structure and the real earnings management and the theoretical basis.By analyzing the current situation of the governance structure of Listed Companies in China,real earnings management motivation combined with the means of implementation,with China's Shanghai and Shenzhen A stock market of 1891 listed companies from 2013 to 2015 financial data as samples,select 7 variables and regression analysis was carried out using the Roychowdhury model,the study on the governance structure of listed companies on the impact of real earnings management.The conclusions include:equity concentration of the chairman and general manager concurrently was positively correlated with the degree of real earnings management;the proportion of state-owned shares,the size of the board of directors,independent directors Share of the proportion of the board,the board of supervisors scale,there was a negative correlation between the proportion of managerial ownership and the degree of real earnings management.Finally,according to the empirical analysis results,combined with China's actual situation,put forward to perfect the governance structure of listed companies to standardize the real earnings management,corporate governance structure of listed companies to help the owner to design and implement reasonable.In order to ensure the quality of accounting information,and promote the optimal allocation of resources of capital market,and promote China's sustainable and healthy development of listed companies.