导　　师： 姜凌

学科专业： 120201

授予学位： 硕士

作　　者： ;

机构地区： 广东外语外贸大学

摘　　要： 财务会计报告是上市公司进行信息披露的重要途径，全面反映了公司在过去一年的财务状况和经营成果，同时也是投资者进行投资决策和监管部门进行监督的重要依据。但当上市公司对外报送的财务会计报告由于存在虚假、遗漏或者误导性的信息时，将会影响到信息使用者的权益，影响到投资者的投资决策，影响到资本市场的正常运作。此时，上市公司会应公司管理层、投资者、会计师事务所或证券会的要求对之前发布的财务会计报告进行更正、补充或更正补充，所谓的年报补丁，也就是中国所特有的财务重述形式，年报补丁是一种事后补救行为。近年来，我国上市公司进行年报补丁公告的频繁发布说明了之前披露的年报存在遗漏或错误，这或许是管理层进行盈余管理的一种手段，严重影响了投资者的投资决策。无论何种形式的财务重述都意味着信息质量的低下。 公司治理对于信息披露质量有着非常重要的作用，上市公司进行财务重述反映了年报存在着信息失真，特别是对盈余的调整，极有可能是因为上市公司存在着盈余操纵的行为。公司治理中的股权结构、董监事会特征和薪酬激励都有可能会影响到财务重述发生的概率，完善的治理能够有效的减少财务重述发生的概率，提高信息披露的质量。上市公司背后的实际控制人通过交叉式持股或者表决权代理机制的形式来控制上市公司，实际控制人隐身于控股股东之后。我国上市公司“一股独大”现状较为普遍，不同类型的实际控制人对股权结构、董监事会、薪酬激励等都会产生影响，从而影响到公司治理效率，也影响了信息披露的质量。 本文选取沪深A股主板2009-2011年年报发布的更正、补充和更正补充的上市公司为样本，基于不同实际控制人性质研究了公司治理与财务重� Financial and accounting report is an important way for listed companies todisclose information. It reflects the company's financial position and operating resultsof the past year and also be the important basis for investors to make investmentdecisions and for regulatory to oversee the company. But when the listed company'sfinancial accounting reports provided with false, material omission therefrom andmisleading information, the information would seriously affect the interests of usersand the normal operation of the capital market. At this point, the listed company willmake corrections, additions or corrections supplement of the released financial andaccounting reports for the requirements of the company's management, investors,accounting firms or securities. The so-called annual patch, which is the Chineseunique form of financial restatements, is a remedial action. In recent years, China'sfrequently released annual report patch of listed companies shows the existentdisclosed errors or omissions of previously annual report, which may be amanagement tool to manage earnings, which seriously affected the investors'investment decisions. No matter what forms of financial restatements mean lowquality of the information. Corporate governance plays a very important role on the quality of informationdisclosure. Listed Companies’ financial restatement reflects the existence ofinformation distortion, especially the adjusted earnings, most likely because of theexistence of the listed company’s earnings manipulation behavior. Corporategovernance in the ownership structure, characteristics and Supervisory Boardremuneration incentives are likely to affect the probability of occurrence of financialrestatements. Sound governance can effectively reduce the probability of occurrenceof financial restatements and improve the quality of information disclosure. Theactual controller of listed companies controlled the listed companies through votingrights proxy mechanism, pyramids and cross-shareholdings of listed companies. The

关 键 词： 实际控制人 公司治理 财务重述 盈余管理

领　　域： [经济管理] [经济管理] [经济管理] [经济管理]