第二部分是我国上市公司财务重述市场反应的理论分析。
Theory analysis, about effects caused by financial restatements of listed company.
结果发现，股权集中度越高，发生财务重述的概率越低；
The finding suggests that firms with higher ownership concentration have a smaller probability to restate;
财务重述会使公司的组织合法性损失，也会提高公司的审计风险。
Financial restatements will compromise the organizational legitimacy, enhance the company's audit risk.
财务重述问题日渐严重，不仅威胁到投资者信心，而且损害到社会经济。
Increasing the financial restatement issues seriously, not only a threat to investor confidence, and damage to the economy.
我国上市公司财务重述报告的披露明显存在着“好消息早，坏消息晚”的现象。
The insider report phenomenon "good news announces early, then the bad news announces lately" is obviously in publishing restatements.
我国上市公司年度财务报告也屡现财务重述，每年大约有10%的公司发生了财务重述。
Annual financial reports of Chinese listed companies also have many accounting errors, about 10% of the company each year have financial restatements.
财务重述是指上市公司在发现并纠正前期财务报告的差错时，重新表述以前公布的财务报告的行为。
The term "financial restatements" refers to the behavior that listed companies restate their previously published financial reports when they discover and correct errors of prior periods.
本文以沪深两地上市公司为样本实证检验了引发财务重述的治理诱因以及投资者关系管理的调节效应。
We use the sample of Chinese listed companies to examine the governance reasons for financial restatements and the moderating effect of investor relations management.
本文以沪深两地上市公司为样本实证检验了引发财务重述的治理诱因以及投资者关系管理的调节效应。
We use the sample of Chinese listed companies to examine the governance reasons for financial restatements and the moderating effect of investor relations management.
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