Study On The Ultimate Controlling Shareholder And Earnings Quality Of Publicly-listed Companies

The influence of ownership structure on earnings quality is a very important problem. And itattracted more and more attention. In China, because of the unique feature of equity structure of thelisting Corporation, the state-owned shares overwhelming problem, the controlling shareholder willcertainly have an impact on earnings quality. But after the reform of the shareholder structure inlisted companies which started at2005,the controlling shareholder has equity division with thecontrolling shareholder under the background of the reform of the shareholder structure in listedcompanies. On the one hand, the non-tradable shares hold by the majority shareholders have been orwill be achieved; On the other hand, from the overall perspective, the shareholding ratio of thecontrolling shareholder will be reduced to a certain extent. This paper will present the relationshipbetween controlling shareholders, and earnings quality under the background of the reform of theshareholder structure in listed companies.Based on analyzing the impact of controlling shareholderscontrol on earnings quality, we compared the changes between controlling shareholders and earningsquality before and after the reform of the shareholder structure. Conclusions are drawn as follows:State-owned holding company earnings quality is higher than that of Non-state-owned holdingcompany; Two rights separation degree is negatively related to the earnings quality，The higher thepercentage of cash flow rights, the higher the quality of earnings；After the reform of the shareholderstructure，the earnings quality is higher than before; Control rate and cash flow right has a significantdownward trend; But under the influence of the two rights separation degree rising, although thereform of the shareholder structure to improving the earnings quality has positive impact, but notdramatically;.This study put forward the policy suggestion about how to further improve theearnings quality of listed companies in our country after the reform of the shareholder structure.Ithas a certain theoretical and practical guiding significance。...