| As the carrier of social capital and the embodiment of the informal system,the importance of social network to the enterprise is becoming more and more important.The interlocking directors is a kind of social network in many forms,which are universal attributes of social network,and also has its own particularity.What’s more the interlocking directors which are formed by the network has become an increasingly common phenomenon in China’s economic and social development.Although the importance of the necessity from general terms have been researched,but it can not only promote the enterprise level social capital at the individual level,also to the enterprise.At the same time,earnings management also exists in the process of enterprise management,earnings management behavior will not only have a negative impact on corporate financial decision usefulness,but also impact on accounting information trust degree and social resource allocation effect.Therefore,this paper investigates the effect of the network transmission of earnings management on the background of A listed companies in china.This paper use the sample of the 2009-2014 A listed companies,and make an empirical study on the influence mechanism between interlocking directorates and corporate earnings management of transmission,independence and relevance and distinguish different characteristics of interlocking directors to further study the impact of earnings management which is made by the interlocking board of the companies.The study found that the level of earnings management companies exist chain director with network contagion effect;and the contagion effect only in the presence of the chain only exists in the chain,after the dissolution of the contagion effect will disappear,when the chain interlocking board directors or with accounting background or financial related duties will strengthen this contagion effect.In addition,this paper also studies the impact of accounting standards and international convergence on earnings management.The results show that after the promulgation of the guidelines,the earnings management contagion effect of A share listed companies in China has weakened.This study further confirms the possible impact of social network on corporate finance and accounting behavior.At the same time,this kind of effect is related to the position,the background and the degree of supervision and so on.The result of this paper further confirms the possible influence of social networks on the financial and accounting behaviors of enterprises,and the phenomenon of concurrent directors will lead to the infection of earnings management among enterprises.At the same time,the intensity of the infection is related to the personal background,job title and regulatory level of the interlocking director as a "contagion channel".In this paper,the test results can make us more in-depth understanding of the impact of the chain on the board of the company governance mechanism,not only to formulate laws and regulations to the regulatory agencies and enterprise for enterprise system customization to provide reference,but also able to provide information and help the investors make investment in value judgment and positioning of the chain the listed company,and provides a theoretical basis for guiding the supervision department director for export specification of part-time behavior,has certain theoretical and practical perfect corporate governance mechanism guiding significance. |
