本文關(guān)鍵詞： 交叉上市 會(huì)計(jì)盈余質(zhì)量 公司治理 約束假說　出處：《吉林大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：截止到2010年底，，共有63家企業(yè)同時(shí)在滬深證券交易所（A股）和境外發(fā)達(dá)國(guó)家和地區(qū)的資本市場(chǎng)(香港、美國(guó)、新加坡、英國(guó)）上市。隨著交叉上市企業(yè)規(guī)模的增大，與非交叉上市企業(yè)相比，這類企業(yè)在自身的盈余質(zhì)量、公司治理情況、企業(yè)價(jià)值等方面都反映出一定的群體特點(diǎn)。隨著對(duì)交叉上市行為研究的深入，出現(xiàn)了若干從公司治理角度研究交叉上市這一資本市場(chǎng)行為的成果。以約束假說作為主要理論依據(jù)，交叉上市能夠改善公司治理。 由于我國(guó)企業(yè)在交叉上市地點(diǎn)、路徑以及首發(fā)溢價(jià)方面都與國(guó)外企業(yè)存在顯著差異，并且部分國(guó)外學(xué)者質(zhì)疑約束假說的有效性。所以，有必要以我國(guó)企業(yè)為樣本，研究交叉上市對(duì)公司治理水平的影響。鑒于盈余管理的普遍存在，而投資者保護(hù)程度與盈余管理行為密切相關(guān)，本文從會(huì)計(jì)盈余質(zhì)量入手，檢驗(yàn)交叉上市企業(yè)會(huì)計(jì)盈余質(zhì)量是否高于非交叉上市企業(yè)，進(jìn)而探討交叉上市對(duì)我國(guó)企業(yè)公司治理水平的影響。 本文以可操縱性應(yīng)計(jì)利潤(rùn)作為衡量企業(yè)會(huì)計(jì)盈余質(zhì)量的指標(biāo)，選取2006—2011年間在AH股交叉上市和僅在A股上市企業(yè)為樣本，進(jìn)行描述性分析和多元回歸分析，檢驗(yàn)了交叉上市，會(huì)計(jì)盈余質(zhì)量與公司治理之間的關(guān)系。研究結(jié)果表明：交叉上市企業(yè)的會(huì)計(jì)盈余質(zhì)量?jī)?yōu)于僅在A股上市的企業(yè)的會(huì)計(jì)盈余質(zhì)量，即中國(guó)的A股上市公司可以通過交叉上市增強(qiáng)外部治理約束，進(jìn)而提高公司治理水平。另外，企業(yè)交叉上市后的會(huì)計(jì)盈余質(zhì)量會(huì)呈波動(dòng)性下降趨勢(shì),近兩年趨于平穩(wěn)，證明我國(guó)企業(yè)交叉上市對(duì)盈余質(zhì)量的影響有限。 第一章對(duì)研究背景與研究意義進(jìn)行了闡述，第二章梳理了國(guó)內(nèi)外關(guān)于交叉上市，公司治理和會(huì)計(jì)盈余質(zhì)量的相關(guān)文獻(xiàn)，熟悉相關(guān)研究方向和已有成果，并探尋新的方向；第三章闡述了相關(guān)理論基礎(chǔ)，并提出本文研究假設(shè)；第四章進(jìn)行研究設(shè)計(jì)，確定本文的樣本、變量模型，并進(jìn)行實(shí)證研究，通過描述性分析和以及回歸分析等方法對(duì)問題進(jìn)行分析，并得出實(shí)證研究結(jié)果；第五章結(jié)合實(shí)證研究結(jié)果得出本文結(jié)論。
[Abstract]:As of end of 2010, there are 63 enterprises in Shanghai and Shenzhen Stock Exchange (A shares) and overseas developed countries and regions of the capital markets (Hong Kong, the United States, Singapore). With the increase of the scale of cross-listed enterprises, compared with non-cross-listed enterprises, this kind of enterprises in their own earnings quality, corporate governance. Corporate value and other aspects reflect certain group characteristics. With the in-depth study of cross-listing behavior. There have been some achievements in the capital market behavior of cross-listing from the perspective of corporate governance. Cross-listing can improve corporate governance on the basis of constraint hypothesis. Since there are significant differences between Chinese firms and foreign firms in the cross-listing location, path and IPO premium, and some foreign scholars question the validity of constraint hypothesis. It is necessary to study the impact of cross-listing on corporate governance with Chinese enterprises as a sample. In view of the widespread existence of earnings management, the degree of investor protection is closely related to earnings management behavior. Starting with the quality of accounting earnings, this paper examines whether the quality of accounting earnings of cross-listed enterprises is higher than that of non-cross-listed enterprises, and then probes into the influence of cross-listing on the corporate governance level of Chinese enterprises. This paper takes accrual profit of maneuverability as an index to measure the quality of accounting earnings and selects cross-listed AH shares and A-share listed enterprises as samples from 2006 to 2011. Descriptive analysis and multiple regression analysis were carried out to test cross-listing. The relationship between accounting earnings quality and corporate governance. The results show that the quality of accounting earnings of cross-listed enterprises is better than that of only A-share listed enterprises. That is, the A-share listed companies in China can enhance the external governance constraints through cross-listing, and then improve the corporate governance level. In addition, the quality of accounting earnings after cross-listing will show a downward trend of volatility. The stable trend in recent two years proves that cross-listing of Chinese enterprises has limited influence on earnings quality. The first chapter describes the research background and significance, the second chapter combs the domestic and foreign literature on cross-listing, corporate governance and accounting earnings quality, familiar with the relevant research direction and existing results. And explore new directions; The third chapter expounds the relevant theoretical basis and puts forward the hypotheses of this paper. Chapter 4th carries on the research design, determines the sample, the variable model, and carries on the empirical research, through the descriptive analysis and as well as the regression analysis method carries on the analysis to the question, and obtains the empirical research result; Chapter 5th draws the conclusion of this paper combined with the results of empirical research.
【學(xué)位授予單位】：吉林大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F832.51;F224

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