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ID:32375154
大小:2.04 MB
页数:64页
时间:2019-02-03
《上市公司财务重述与高管变更的研究》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、ABSTRACTInrecentycars,theincidenceofnnancialrestatelllelltsandnnancialreportingf1.audhasi11creaseddralllatically.Theerosionin£11equalitynf“na橱alrepomlgaseVidencedbyt11epr01.ferationof行11ancialrestatementshascauscdconcernamongacademics,practitionersandregulators.OneoftheparticuIarconc
2、ernsistheextenttowhich111anagers’actionscanbeadequatelymonitoredandwhetllertheinternalcontrolmechanismofthcsecompaniescanw01.kefFectiVclyaf、terrestatementsbychangingtopmanagerstoreestablishreputationoftheconlpany,protectinvestorsandimproVeeffectiVenessofcol‘pol‘ategoVernance.Tbaddres
3、sthisquestion,thispaperinVcstigatctherel)LItationaIpenaltiestomanagersofnrInsannouncingmaterialfinancialrestatelllcntsandf.actorsinlpactmanagementtu¨10Verinthesecol”panies.ThispapcrisdiVidedinto“Vechapters.ThenI’stchaptcrincIudesacomprehensiVecxplallationofthebackground,Ineaningandn‘
4、a111eworkofstLldyandanoVcrViewofthccontentsofLhepapeI..1itcratLlrereViewoI、chapCcr2w11ichisthetheoreticalbasisofcnlpiricalresearchsonedoutthecxistingsLu(1yaboutnnanciaIrcstatcments,lnanagcnlenttui.110Verandpoliticalconnections.111theei
5、npiricalchapter3andchapter4,nncrcolllprehensiVea
6、naIysisona11nual“nancialreportsofandsampleseIection,wegetasalllpleofl47nrmsthatconductcdmaterialnnanciaIrestatelllentsduring2006—2009andl47controlnrmsthroLIghConlpany’sAnnualReportandthe(:SMARDatabase.BasedontheorcticaIanalysis,theeInpiricalanalysisisexpandedbyconstructingLIniVariate
7、statisticandLogitmodel.Finally,chapter5proposcspolicyrecommendationsandpossibledifectionsf.orfhrtherresearchbasedonasumlllaryofkeyconclusions.ThispaperproVcsthepredictionthatmaterial6nancjalrestatementsincreasethepossibilityofmanagementturnover.TheturnoverrateofCE0orchairmanoftheboar
8、dofrestating“rmsissigni行cantIyhigherthanthecorrcspondingrateofsize—andindustry—matchednrlnswithinoneyearbeforeandoneyearanertherestatement,twoycarsfollowingtherestatementaswellassixmonthsbeforcandsixmonthsancr1.estatelllcnt.ThesignmcalltdifkrellcesmtLIllloVcrpe嘣stevena{1ercontroIling
9、forothcrfact
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