Research On The Influence Of The Executive Stock Option For Top-management Team To Earnings Management

Talent is the most important and most competitive strategic resource,In the case ofseparation of ownership, business owners can take a variety of incentives, expect operators toits "one mind"In a variety of incentives, the most widely used incentive stock options, whilesenior managers have become the most important incentive target.However, at the same timehave a positive effect of the equity incentive, executives equity incentive effect on earningsmanagement is also increasingly attracted attention.Paper adopts normative and empirical research method of combining research,on thebase of principal-agent theory, human capital theory, basic rational economic man hypothesisand theory of asymmetric information, select the information technology industry stockoption incentive effect on earnings management research.Hoping to improve the stock optionincentive mechanism, improve information disclosure IT industry and promote the healthydevelopment of the industry is given a number of new ideas.In the empirical study, selected from2009to2013to implement the stock optionincentive information technology industry in listed companies as a sample,Accruals profits iscalculated by using modified cross-sectional Jones model measure earningsmanagement,Establish multiple regression model to do regression analysis and robustnesstests.The results showed that the degree of incentive stock options and earnings managementlevel information technology industry a significant positive correlation;The Board ofDirectors is excited proportion accounted for, company size have a positive correlation toearnings management.While the proportion of earnings management and the board ofindependent directors was not accounted for significant negative correlation.Through in-depthanalysis of the findings presented suppress the information technology industry earningsmanagement recommendations:Improve the assessment standard senior management stockoption incentive plan,Optimization of IT industry class corporate governancestructure,Establish market manager,Enhance the effectiveness of capital markets. Theinnovation of this paper is to influence the overall incentive stock options will be divided intostock option incentive stock option incentive extent and impact on the environment.And in respect to sampling and other industries more rigorous and time, making research morereliable.