The Study On Earnings Management And Top Managers Change Of Chinese A-share Listed Companies

Along with the development of China's capital market, earnings management behavior become more and more frequent, it has became the hotspot academic.In this paper, A-share listed company executives, changes in the relationship between earnings management. Executives from two perspectives to explore the relationship between changes in earnings management:The first angle is from the A-share listed company executives change the normal starting place to study changes in senior management executives in those days was no change in the company compared the relationship between earnings management and senior management changes over the year in the earnings management relationship. The second point of departure from non-normal changes, to study the changes in senior management executives in those days was no change in the company's earnings management behavior. To show that the frequent changes of executives, the company has brought frequent earnings management, the company should strengthen the internal mechanisms of control, independent directors and establish the independence of internal audit, strengthen the internal mechanisms of supervision and senior management personnel constraints effect; There is to improve the market in the manager role of the market, strengthen the market manager to control the role of senior management, to strengthen the external mechanisms of constraint on executive personnel strength.This paper describes the background of changes in senior management, from foreign and domestic scholars point to review before the change in earnings management executives, and found abroad on the executives of changes in more earnings management, while China executive changes and earnings management are few. And domestic research because few changes in the classification of senior executive changes in the relationship between earnings management, the purpose of this paper is to study the changes in senior executives in those days was no change in the behavior of corporate earnings management than would be any different, changes in the company of normal earnings management behavior changes. Secondly, the article describes the meaning of earnings management, earnings management means and motives, and then from the principal-agent theory, asymmetric information theory and contract theory introduces three theoretical basis of earnings management, three years of data 2006-2008, using the modified Jones model to describe the statistical analysis and multiple regression analysis, any change from the normal executive two aspects of abnormal movements following conclusions:(1) normal range of fluctuation of the company occurs, changes in the current year and will be conducted one year after the acts of upward earnings management, making the company's earnings increase. Changes did not occur with the executives of companies compared to normal changes in the current year, the company will act upward earnings management, making the year's gains. (2) the occurrence of abnormal changes in the company, and executives did not occur than changes in the company, will be downward earnings management behavior, making the current year's earnings decline.