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本文以我国沪深两市A股民营上市公司2009-2011年的数据为样本,利用虚拟变量度量政治关联,实证验证了我国民营上市公司的政治关联会影响公司的盈余管理。在此基础上,研究进一步区分了政治关联的不同方式,分别研究了政府官员类政治关联和代表委员类政治关联对民营企业进行盈余管理的不同影响。研究表明,从整体上看民营上市公司建立的政治关联对其进行盈余管理有显著的正相关作用;进一步区分政治关联方式后,发现政府官员类政治关联对民营上市公司进行盈余管理有显著的促进作用,而代表委员类政治关联对民营上市公司的盈余管理行为影响并不显著。
This paper takes the data of A-share private listed companies in Shanghai and Shenzhen from 2009 to 2011 as samples, and uses the dummy variables to measure the political connections, and empirically verifies that the political connection of the private listed companies in our country will affect the earnings management of the company. On this basis, the study further differentiates the different ways of political association and studies the different influences of the political connection of government officials and the political association of representative members on the earnings management of private enterprises respectively. The research shows that, as a whole, the political connections established by private listed companies have a significant positive correlation with earnings management. After further distinguishing the political connections, it is found that the political connections of government officials have significantly promoted the earnings management of private listed companies However, the influence of the political association on behalf of members on the earnings management behavior of private listed companies is not significant.