China's Listed Companies Of Earnings Management And Ownership Structure Research

With more than ten years rapid development of our capital market, more and more requests impose on the information disclosure of listed company. Whereas the scandal about the information disclosure of listed company are disclosed constantly. By this year, the scandal of Kaikai industry , Nanjing Panda, Kelong electric, Nanjing Zhong—bei and so on all involved the criterion of information, and earnings management is the dominating problem. The manipulation of earnings information will result in serious asymmetry of information and affect allocation of resource. The ongoing reform on slit share structure is regarded as the most important reform since the foundation of our stock market. It can solve thoroughly the problem that majority of shares can not be tradable on market. Research about the relativity between earnings management and ownership structure of Chinese listed company along the clue "earnings management—information disclosure—governor structure—ownership structure" is significant, both theoretically and practically.The thesis adopts academic and experimental ways. Firstly, the thesis has a review about the related literature and got some inference: the association between earnings management and block holder ownership follows a U relation; the convergence of ownership does not confine earnings management; a positive relation is founded between earnings management and government ownership; no evidence show the ownership of manager and employee can affect earnings management. Then the thesis makes a design, puts forward hypothesis and constructs relevant model.This thesis adopts A-share of Chinese stocks market including Shanghai and Shenzhen market during 2002-2004 as a research sample. After combination the theory analysis and experienced test on the topic that the relation between earnings management and ownership structure, the thesis draws some conclusion: the association between earnings management and block holder ownership follows a U relation; the convergence of ownership does not confine earnings management; a positive relation is founded between earnings management and governmentownership; no evidence show the ownership of manager and employee can affect earnings management. At the end, based on these conclusions the thesis gives some suggestions about the information disclosure of Chinese stock market after the reform on slit share structure.