Corporate governance is undermined by the tunneling of controlling shareholders. Social networks play a positive role in corporate governance; hence, the question is whether noncontrolling shareholders can take advantage of their network position to participate in corporate governance and subsequently influence earnings management. Our findings indicate that noncontrolling shareholders' network centrality can impede positive accrual-based earnings management and primarily functions as a governance mechanism via external governance. Also influencing the relationship between positive accrual-based earnings management and noncontrolling shareholders' network centrality are the religious culture in different regions and the nature of corporate property rights. Our study contributes to the debate about the role of noncontrolling shareholders by providing direct evidence that the network centrality of noncontrolling shareholders plays an active role in enhancing corporate governance and accounting information quality.

中文翻译：

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非控股股东的网络中心性与企业盈余管理：治理还是阴谋？


公司治理因控股股东的利益输送而受到损害。社交网络在公司治理中发挥积极作用；因此，问题在于非控股股东能否利用其网络地位参与公司治理并进而影响盈余管理。我们的研究结果表明，非控股股东的网络中心地位可能会阻碍积极的应计利润管理，并且主要通过外部治理发挥治理机制的作用。影响积极应计利润管理与非控股股东网络中心性之间关系的另一个因素是不同地区的宗教文化和公司产权性质。我们的研究通过提供直接证据证明非控股股东的网络中心地位在提高公司治理和会计信息质量方面发挥着积极作用，为有关非控股股东角色的争论做出了贡献。