| With the crossing and integration among finance,psychology and behavioral science,measurement methods get innovated and improved moreover.However,most of the previous studies can not rule out the impact of different industries on executive compensation,this paper will use the ‘ comparing coefficient ' to solve the above problem.The smaller the number of the ‘comparing coefficient',the lower the level of external equity of executive compensation.In addition,most of the existing researches pay more attention to the positive effects of compensation equity on corporate performance,but less to explore the negative impact.However,it must pay attention to the reverse incentive effect,which makes the research of theory and policy formulation.Based on this,this paper takes the data of listed companies as samples to study the influence of the equity of executive emolument on the earnings management,which is of great significance to optimize the compensation structure and corporate governance.This paper uses literature research,normative analysis and empirical analysis.Firstly,a systematic review based on the relevant literature at home and abroad are systematically analyzed.According to the "external equity of executive compensation","earnings management" and "social comparison theory" and other related concepts and theories,we lay the theoretical foundation for the analysis in this research.Secondly,describe the current situation of executive compensation and real earnings management.Thirdly,The date of 775 samples from the Beijing-Tianjin-Hebei listed company in 2014-2016 are the objects.On the basis of previous chapters,we study the impact of external equity on real earnings management,and further study the moderating effect of the nature of equity on the relationship between the two,and get the empirical results:the external equity of executive compensation has a significant negative correlation with real earnings management,and the nature of equity has a significant regulating effect on the negative correlation between the external equity of executive compensation and the real earnings management.Compared with non state holding companies,the negative impact of executive compensation external equity on real earnings management in state holdingcompanies has been greatly strengthened.Finally,based on the analysis of the above empirical results,this paper puts forward the research conclusion,and puts forward some countermeasures and suggestions from the aspects of salary structure and corporate governance. |
