摘要
本文以沪深两市A股制造业上市公司为研究对象,基于2012-2014年的面板数据,运用STATA 12探讨企业社会责任对应计和真实盈余管理的不同影响。对于企业社会责任的衡量,本文运用因子分析法构建了我国制造业企业社会责任评价体系,将科技创新、质量安全等纳入评价体系中,将各企业的综合得分作为社会责任的衡量指标;对于应计盈余管理的计量,本文运用修正的琼斯模型;对于真实盈余管理的计量,本文借鉴Roychowdhury的做法将异常的产品成本、经营活动净流量、酌量性费用三部分的综合指标作为真实活动盈余管理的衡量指标。研究结果发现:制造业上市公司会同时进行应计和真实盈余管理两种方式,且企业社会责任与应计盈余管理、真实盈余管理均呈显著的负相关关系,这表明企业履行社会责任是一种道德行为,履行社会责任好的企业,其信息披露更加透明,从而抑制盈余管理行为。此研究结果进一步丰富了企业社会责任与盈余管理的相关研究,对制造业的监管提供了指导性建议。
In this paper, listed manufacturing companies are taken for the study, based on 2012--2014 panel manufacturing sector listed company data, by using statistical software STATA 12 to study the impact of corporate social responsibility accrued earnings management and real earnings management. For a measure of corporate social responsibility, evaluation system of corporate social responsibility is constructed in the method of factor analysis. The index of scientific technological innovation, quality and safety is used in the evaluation system, the composite score for each enterprise as a measure of social responsibility; for measurement of accrued earnings management, the modified Jones model is used to measure discretionary accrual earnings management; for real measure of earnings management, Roychowdhury approach is taken to integrate abnormal product costs, abnormal flow from operating activities net, abnormal discretionary expenses as a true three-part activity measure of earnings management. The results show that： Listed manufacturing firms will also use accrued and real earnings management in two ways, and the Corporate Social Responsibility and accruals earnings management, real earnings management showed a significant negative correlation, suggesting that corporate social responsibility is a kinds of ethical behavior, the bettr social responsibility fulfill, the more transparent information disclosure, thereby inhibiting earnings management behavior. Results of this study to further enrich the research of corporate social responsibility and earnings management, It provides guidance and advice for the supervision of the manufacturing sector.
作者
宋岩
滕萍萍
秦昌才
SONG Yan TENG Ping-ping QIN Chang-cai(School of Economics and Management, Yantai University, Yantai 264005, Chin)
出处
《中国管理科学》
CSSCI
CSCD
北大核心
2017年第5期187-196,共10页
Chinese Journal of Management Science
基金
山东省社会科学规划基金青年项目(13DJJJ22)
关键词
企业社会责任
应计盈余管理
真实盈余管理
corporate social responsibility
accrual earnings management
real earnings management
作者简介
通讯作者简介：宋岩（1969-），男（汉族），山东乳山人，烟台大学经济管理学院教授，硕士，研究方向：企业预算管理和高管人员绩效评价，E-mail：songy@ytu．edu．cn．
