The Influence of Equity Pledge and Shareholding Ratio of Major Shareholders on Earnings Management

This paper will start from the motivation of enterprises to manipulate positive and negative earnings management, and combine the characteristics of controlling accruals and real earnings management, so as to make up for the lack of research on the direction, mode and degree of earnings management in the existing literature. At the same time, this study will provide a new explanation for the relationship between equity pledge of major shareholders and different ways of earnings management in different directions. In this paper, the pledge of major shareholders' equity is used as an external governance factor, and the shareholding ratio and equity nature of major shareholders are used as internal governance factors for simultaneous analysis, so as to explore the synergistic effect under the joint action and better explore the relationship between corporate governance and earnings management. This paper uses the A-share listed companies in China's Shanghai and Shenzhen stock markets from 2013 to 2018 as a research sample to explore the impact of Equity pledge on upward earnings management, and the moderating effect of the shareholding ratio of major shareholders on the relationship between equity pledge and upward earnings management.