资源描述：
《企业生命周期、股权激励与盈余管理研究.pdf》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、AbstractNowadays,companiesareusuallynotranbyowners,theseparationofmanagementrightandownershipmakestheinformationbetweenshareholdersandmanagersasymmetrical,whichleadstotheagencycost.Asinfor-advantagers,fromtherationaleconomicman'spointofview,theoperatorsareboundtoma
2、ximizetheirownbenefitsviaself-interestedbehavior.Equityincentivemechanismisanewsystem,whichisincentiveandrestraint.Itcombinestheinterestsofownersandoperators,achievesbenefit-sharingandrisk-sharingpattern,aimingtoincentoperatorsmoreefficientlytocreatevaluefortheente
3、rpriseandconstraintoperator'searningsmanagementbehaviortoacertainextent.However,thecompanyoperatingresultsrelatedfinancialindex,whichoperatorscanknowdirectly,isusuallyregardedastheevaluationindexinequityincentivemechanism.Inordertomaximizeequityincentivecompensatio
4、n,operatorsaretendtomakefulluseofadvantagesofpowerandinformationforearningsmanagement.Eachstageinenterpriselifecyclehasdifferentgoalsandfinancialcharacteristics,whichaffectthecompany'soperatingconditionsandfinancialindex,atthesametime,thecompany'sequityincentivemec
5、hanismiscloselyrelatedtotheaccountinginformation,motivationandmethodsofearningsmanagementarerelatedtothecompany'sbusinessgoalsandfinancialstatus.Asaresult,thecharacteristicsoftheenterpriselifecyclehaveimpactonequityincentivemechanismandearningsmanagement,andingoing
6、further,thecharacteristicsoftheenterpriselifecycleaffectthecorrelationbetweenthem.Existingresearchoncorrelationofequityincentivemechanismandearningsmanagementisveryrich,butfewresearchisabouttheimpactofenterpriselifecycleonthecorrelation,therefore,thisarticletakethi
7、sasabreakthroughpointforrelatedresearch.Thisarticlelistscompanieswhichimplementtheequityincentivemechanismassamples,makesempiricalresearchonthecorrelationbetweenequityincentivemechanismandearningsmanagementonthebasisoftheexistingtheoriesandempiricalresults,consider
8、ingtheinfluenceoftheenterpriselifecyclecharacteristics.Anditstudiesthevalidityofequityincentivemechanismastheinfluencefactorscombiningwiththechar
