Earnings Management Behavior of Listed Companies with the Participation of Strategic Investors
In order to deeply explore the impact mechanism of strategic investors on earnings management,this paper selects data from Shanghai and Shenzhen A-share listed companies from 2010 to 2020,and constructs a theoretical model to do empirical testing.The results show that the participation of strategic investors significantly affects the earnings management behavior of listed companies,reduces the degree of earnings management,improves the transparency and quality of financial reports,which has a certain inhibitory effect on earnings management.Further research has found that internal control has a certain moderating effect on the relationship between strategic investors and earnings management.In enterprises with higher internal control,strategic investors have a more significant inhibitory effect on earnings management.Therefore,enterprises should fully understand the value and significance of introducing strategic investors,the government should play its role in policy guidance and market regulation,while strategic investors should pay attention to the investment value and potential risks of enterprises.
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万方数据
