企业战略、高管薪酬激励与盈余管理
Corporate Strategy, Executive Compensation Incentives and Earnings Management
摘要: 以2006~2017年中国A股上市公司作为研究样本，分别探讨两种高管薪酬激励方式—货币激励与股权激励对盈余管理有何影响，并进一步探讨其影响差异。研究结果表明不论是对高管进行货币激励还是股权激励均会提高企业盈余管理程度；相对于货币激励，高管股权激励对公司盈余管理的影响更强；相较于采取成本领先型战略的企业，采取差异化战略的企业会强化对高管进行货币激励与企业盈余管理之间的正相关关系。
Abstract: Taking China’s A-share listed companies from 2006 to 2017 as a research sample, we discuss two kinds of executive compensation incentives—the impact of monetary incentives and equity incen-tives on earnings management, and further explore the impact differences. The results show that both monetary incentives and equity incentives for executives will increase the degree of earnings management; compared with monetary incentives, executive equity incentives have a stronger im-pact on corporate earnings management; compared to companies that adopt cost-leading strategies enterprises adopting a differentiated strategy will strengthen the positive correlation between monetary incentives and corporate earnings management.
文章引用：张瑞玥, 徐凤菊. 企业战略、高管薪酬激励与盈余管理[J]. 金融, 2019, 9(1): 1-10. https://doi.org/10.12677/FIN.2019.91001

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