高管货币薪酬激励对盈余管理的影响——基于企业生命周期视角

The Influence of Executive Monetary Compensation Incentive on Earnings Management—Based on the Enterprise Life Cycle Perspective

摘要: 本文采用2015~2021年沪深两市上市A股公司数据，引入企业生命周期概念，分析高管货币薪酬激励对企业盈余管理的影响效果，探究面对企业生命周期差异化的情况下，高管货币薪酬激励对盈余管理方式的影响效应是否存在差别。研究结果表明：企业生命周期的不同阶段，高管薪酬激励对盈余管理影响程度具有差异。

Abstract: This paper adopts the data of A-share companies listed in Shanghai and Shenzhen stock markets from 2015 to 2021, introduces the concept of enterprise life cycle, analyzes the impact effect of ex-ecutive monetary compensation incentive on earnings management, and explores whether there are differences in the impact effect of executive monetary compensation incentive on earnings management in the face of enterprise life cycle differentiation. The results show that executive compensation incentive has different influence on earnings management in different stages of en-terprise life cycle.