Top Management Compensation, Earnings Management and Default Risk: Insights from the Chinese Stock Market

淡江大學機構典藏 > 商管學院 > 會計學系暨研究所 > 期刊論文 > Item 987654321/42042

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题名:	Top Management Compensation, Earnings Management and Default Risk: Insights from the Chinese Stock Market
作者:	Ting, Wei;Yen, Hsin-hui;Huang, Sheng-shih
贡献者:	淡江大學會計學系
日期:	2009-01
上传时间:	2010-02-23 14:32:34 (UTC+8)
出版者:	Hilo, HI: Institute for Business and Finance Research
摘要:	China has sustained a rapid rate of economic growth and absorbed a great deal of foreign investment over the past decades. However, the laws pertaining to business in China have not kept up with China’s market growth. For this reason, investors in the Chinese stock market must assess associated risks. We set out in this study to examine the relationships that exist between default risk, earnings management, and top management compensation of publicly-listed companies in the Chinese stock market, which is now considered the most important emerging market. The results reveal a greater likelihood of default amongst larger discretionary accruals and lower top management compensation. In addition to studying the relationships which exist in the full sample, we also divide the sample into two sub-groups, based upon the signs of discretionary accruals, to investigate the likelihood of default. We find higher default potential amongst firms only falling into the category of positive discretionary accruals.
關聯:	The International Journal of Business and Finance Research 3(1), pp.31-46
显示于类别:	[會計學系暨研究所] 期刊論文

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