摘要
Abstract
As the research object of the implementation of equity incentive plans of the implementation of equity incentive planfrom 2007 to 2012, we use the method of principal component analysis to extract the intensity index of corporate gover-nance relates to board of directors, ownership structure, institutional investors, the four aspects of the external audit, and an empirical test of high, low, different corporate governance strength on the relationship between equity incentive and real earn-ings management influence.The results show that: corporate governance intensity has a significant impact on the relationship between equity incentives and real earnings management; high corporate governance intensity can significantly restrain real earnings management. With the decrease in corporate governance intensity,this inhibition disappears; Marketization can restrain earnings management induced by equity incentives, and the higher corporate governance intensity is, the stronger protective role marketization plays.关键词
股权激励/真实盈余管理/公司治理强度/市场化进程Key words
Equity incentives/Real earnings management/Corporate governance intensity/Marketization分类
管理科学
