中文摘要：

文章利用迪博内部控制指数,以2009-2014年非金融上市公司作为实证研究样本,细分央企、地方国企和非国有企业。研究发现,真实盈余管理程度随着内部控制质量和机构投资者持股比例的提高而显著降低,内部控制在机构投资者负向影响真实盈余管理过程中发挥了部分中介效应,机构投资者持股比例增强了内部控制对真实盈余管理的抑制作用;内部控制在央企中对真实盈余管理的抑制作用最为显著,机构投资者在央企中对真实盈余管理的抑制作用不显著。

英文摘要：

This paper selects the non-financial A-share listed companies from 2009 to 2014 as the empirical research samples, employs the DIB index to study the state-owned central enterprise, local state-owned enterprises and other enterprises. The study finds that the degree of real earnings management significantly reduces with the improvement of internal control quality and the increase of institutional investors holding, the internal control in the negative influence of institutional investors in the process of real earnings management plays a partial mediating effect, institutional investor shareholding enhances the internal control of the inhibitory effect of real earnings management. Internal control in the central state-owned enterprises plays the most significant effect on the real earnings management; Institutional investors in the central state-owned enterprises has no significant inhibitory effect on the real earnings management.