股权制衡、研发支出与真实盈余管理--基于创业板上市公司的实证研究

摘要

This paper studies the relationship between R&D expenditure and real earnings management and the regulating effects of ownership structure on the relationship between R&D expenditure and real earnings management based on the data of the GEM listing corporations collected from 2009 to 2013. The conclusion shows that R&D expenditure is negatively correlated with real earnings management in China’s GEM Listing Corporations,while the degree of equity balance negatively moderates the relationship between R&D expendi-tures and real earnings management.%文章利用创业板上市公司2009年至2013年的数据，对企业的研发支出与真实盈余管理以及股权结构对研发支出与真实盈余管理之间关系的调节作用进行了实证研究。结论表明，我国创业板上市公司的研发支出与真实盈余管理为负相关关系，股权制衡度负向调节研发支出与真实盈余管理之间的关系。