Research On The Impact Of Industrial Policies On Surplus Management In China’s Cultural Industry

As a special economic form,the cultural industry has become one of the most influential forces in the world’s economic transformation and development.It has significant strategic significance for the transformation of China’s economy from high-speed development to high-quality development,and is worthy of our in-depth research.Earnings management is an important behavior for companies to maximize their own interests and realize the maximization of market value.It is also an important tool for managers to adjust the future development direction of companies.Therefore,it is particularly important and necessary to study the impact of earnings management on Chinese companies.In order to promote the rapid development of China’s cultural industry,the government has continuously increased policy support,formulated a series of industrial policies,and actively supported the development of the cultural industry.At present,most of the existing research on industrial policy focuses on the macro level,while at the micro enterprise level,it mainly explores the impact of industrial policy on corporate investment and financing,corporate performance,and innovation activities,with little attention paid to the interaction between industrial policy and corporate earnings management.For the cultural industry during the period of high-quality economic development in China,economic policies and systems are one of the key macro factors that companies consider when making earnings decisions,and have increasingly become a hot field for domestic and foreign scholars to study earnings management.Therefore,this article takes listed companies in China’s cultural industry as the research object,and explores the issue of earnings management in China’s cultural industry from the perspective of industrial policy.This research has important theoretical and practical significance,providing reference for effectively solving the problem of earnings management in the cultural industry from the policy level.This article explores the impact of industrial policies on earnings management behavior in China’s cultural industry.Firstly,it summarizes the relevant concepts studied in this article,and summarizes the research of domestic and foreign scholars on the economic effects of industrial policies,motivations and influencing factors of earnings management,providing theoretical support for the following research;Secondly,the impact of industrial policies on earnings management in the cultural industry was analyzed.It was believed that China’s industrial policies mainly affect the earnings management of listed companies in the cultural industry by breaking through financial barriers and conveying positive news.The regulatory role of analyst attention and overconfidence of managers was theoretically explored;Finally,to verify the conclusions drawn from the previous theoretical analysis,this article selects data from all A-share cultural industry listed companies in China from 2010 to 2021 as samples,uses the modified Jones model to measure the company’s earnings management,and after controlling for relevant variables that affect earnings management,uses a benchmark regression model to empirically explore the impact of industrial policies on earnings management in China’s cultural industry,Furthermore,the moderating effects of analyst attention and manager overconfidence on the relationship between the two were studied,further enriching the research findings of this article.Through empirical research,this article draws the following research conclusions:(1)Industrial policies can significantly promote earnings management in the cultural industry.(2)Analysts’ attention will suppress the positive effect of industrial policies on earnings management in the cultural industry.(3)The overconfidence of managers will strengthen the positive effect of industrial policies on earnings management in the cultural industry.Finally,based on the research findings,this article comprehensively considers the internal and external environment of the company and proposes corresponding policy recommendations for both the government and the company.