中文摘要：

本文利用中国A股市场上市公司同业竞争关系数据，研究上市公司的控股股东是否会利用上市公司与关联企业之间的同业竞争关系，向上市公司进行利益输送，从而使上市公司达到盈余管理目的。研究发现，当存在向上操纵盈余的动机时，较之不存在同业竞争关系的上市公司，存在同业竞争关系的上市公司的销售收入、销售现金流及主营业务利润的增长显著更快，而操纵性应计显著更低。上述结果表明，存在同业竞争关系的上市公司的盈余操纵更多来源于控股股东通过同业竞争关系进行的利益输送。

英文摘要：

Using the data of Chinese A - share listed companies with horizontal competition relationship, this paper studies whether the controlling shareholders will use the horizontal competition relationship between the listed companies and related companies to transfer interests to listed companies in order to get the goal of earnings manipulation. The study finds that with the presence of upward earnings manipulation motivation, compared to non - existent horizontal competition relationship, listed companies with horizontal competition relation- ship have a significantly faster growth of sales revenue, cash flows and profit of main business, while discretionary accruals is significantly lower. The results suggest that earnings manipulation of listed companies with horizontal competition relationship attributes to the interests transformation through the horizontal competition relationship by the controlling shareholders.