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Ownership Structure and Financial Restatement

ZHANG Junrui,MA Chen(School of Management,Xi'an Jiaotong University,Xi'an 710049,China)  
Based on items of accounting errors correction from supplement and correction statement in Chinese listed firms in A share market between 2005—2009,this research empirically investigates the relationship between ownership structure and financial restatement systematically by matched sample analysis method,taking financial restatement occurs or not as a dependent variable.The finding suggests that firms with higher ownership concentration have a smaller probability to restate;firms with higher state shareholdings are easier to restate;firms with higher trading shareholdings have a smaller probability to restate;there is a U relation between management shareholdings and financial restatement;legal person and institutional shareholdings can't restrain financial restatement significantly.This research develops the contents of financial restatement research,providing empirical evidence and suggestions for regulatory authorities,to prevent financial restatement and improve ownership structure to enhance corporate governance efficiency.
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