新材料上市公司股权结构对盈余管理影响的实证研究

以上海证券交易所和深圳证券交易所122家新材料上市公司为样本，结合新材料企业特征，利用拓展的截面Jones模型，就股权结构对盈余管理的影响进行了实证研究。实证结果表明：新材料上市公司盈余管理程度与股权集中度呈U型关系，与流通股比例正相关，而国有股比例和法人股比例对其盈余管理程度无显著影响。依据实证结果，就合适的股权结构提出了相应的政策建议。

Empirical Analysis on Effects of Ownership Structure on Earnings Management in Chinese New-Material Listed Companies

On the basis of annual reports of new-material listed companies in Shanghai Stock Ex-change and Shenzhen Stock Exchange,the paper selected 122 samples from them and used modified Jones model to analyze the relationship between ownership structure and earnings management.Em-pirical results show that it has a U-shaped relationship between the ownership concentration and earn-ings management,and it has no significant relation between the proportion of state-owned shares and earnings management,so as the proportion of corporate shares.What’s more,circulating shares have the positive relation with earnings management.According to empirical results,this paper put forward some policies and suggestions to prevent the earnings management.