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Article: Private vs state ownership and earnings management: Evidence from Chinese listed companies

TitlePrivate vs state ownership and earnings management: Evidence from Chinese listed companies
Authors
KeywordsChina
Corporate Governance
Earnings Management
Ownership
Issue Date2007
PublisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/CORG
Citation
Corporate Governance, 2007, v. 15 n. 2, p. 223-238 How to Cite?
AbstractIn this study, we investigate the role played by a firm's ownership structure in earnings management, with reference to the Chinese capital market. We measure the impacts of both ownership concentration and different ownership types, specifically the difference between the state as blockholder and private blockholders. Analysing 273 privately-owned and state-owned Chinese companies listed in 2002, we establish a link between ownership structure and firms' earnings management practices. Our results show that the relationship between earnings management measures and ownership concentration exhibits a statistically significant non-linear, inverted U-shape pattern known as the "entrenchment versus alignment" effect. It is clear that privately-owned listed companies tend to maximise their accounting earnings more. However, the entrenchment effect of ownership concentration on earnings management is weaker in privately-owned listed firms than in state-owned listed firms. Our study also confirms that when a firm manages its earnings, it tends to do so through both operating-related accrual mechanisms and non-operating transactions with related parties. © 2007 The Authors.
Persistent Identifierhttp://hdl.handle.net/10722/177742
ISSN
2015 Impact Factor: 2.169
2015 SCImago Journal Rankings: 1.119
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorDing, Yen_US
dc.contributor.authorZhang, Hen_US
dc.contributor.authorZhang, Jen_US
dc.date.accessioned2012-12-19T09:39:46Z-
dc.date.available2012-12-19T09:39:46Z-
dc.date.issued2007en_US
dc.identifier.citationCorporate Governance, 2007, v. 15 n. 2, p. 223-238en_US
dc.identifier.issn0964-8410en_US
dc.identifier.urihttp://hdl.handle.net/10722/177742-
dc.description.abstractIn this study, we investigate the role played by a firm's ownership structure in earnings management, with reference to the Chinese capital market. We measure the impacts of both ownership concentration and different ownership types, specifically the difference between the state as blockholder and private blockholders. Analysing 273 privately-owned and state-owned Chinese companies listed in 2002, we establish a link between ownership structure and firms' earnings management practices. Our results show that the relationship between earnings management measures and ownership concentration exhibits a statistically significant non-linear, inverted U-shape pattern known as the "entrenchment versus alignment" effect. It is clear that privately-owned listed companies tend to maximise their accounting earnings more. However, the entrenchment effect of ownership concentration on earnings management is weaker in privately-owned listed firms than in state-owned listed firms. Our study also confirms that when a firm manages its earnings, it tends to do so through both operating-related accrual mechanisms and non-operating transactions with related parties. © 2007 The Authors.en_US
dc.languageengen_US
dc.publisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/CORGen_US
dc.relation.ispartofCorporate Governanceen_US
dc.subjectChinaen_US
dc.subjectCorporate Governanceen_US
dc.subjectEarnings Managementen_US
dc.subjectOwnershipen_US
dc.titlePrivate vs state ownership and earnings management: Evidence from Chinese listed companiesen_US
dc.typeArticleen_US
dc.identifier.emailZhang, J: jjzhang@econ.hku.hken_US
dc.identifier.authorityZhang, J=rp01124en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1111/j.1467-8683.2007.00556.xen_US
dc.identifier.scopuseid_2-s2.0-33947268629en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33947268629&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume15en_US
dc.identifier.issue2en_US
dc.identifier.spage223en_US
dc.identifier.epage238en_US
dc.identifier.isiWOS:000244942000010-
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridDing, Y=7404136394en_US
dc.identifier.scopusauthoridZhang, H=53873458900en_US
dc.identifier.scopusauthoridZhang, J=55367373100en_US
dc.identifier.citeulike1168928-

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