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债务契约是盈余管理的一大动因,这已是公证的结论,而很少人去关注债务契约内部不同安排时,盈余管理幅度是否会存在差异的问题。本文基于中国A股公司的盈余管理行为,研究了债务契约性质不同,公司所对应的盈余管理幅度是否不同。结果发现:不同来源与不同期限的债务契约,对公司盈余管理幅度的影响,存在一定的差异。这表明,债务契约的性质对公司盈余管理幅度有着影响。
Debt contracts are a major cause of earnings management. This is notarized conclusion. However, few people pay attention to the issue of whether there will be differences in the scope of earnings management when different arrangements within a debt contract are followed. Based on the earnings management behavior of A-share companies in China, this paper studies the different nature of debt contracts and whether the corresponding earnings management scope is different. The result shows that there are some differences in the impact of debt contracts with different origins and different maturities on the extent of corporate earnings management. This shows that the nature of the debt contract has an impact on the extent of corporate earnings management.