股权分置改革(以下简称股改)使我国资本市场不再存在流通和非流通股的界分,大小股东利益基础趋于一致。但股改成效仍旧争议颇大,其中一种意见是公司的控股股东在股改前后进行了有利于自身的盈余管理,冠冕堂皇地侵占中小股东的利益。 The split share structure reform (hereinafter referred to as share reform) has eliminated the boundary of circulating and non-tradable shares in the capital market of our country, and the interests of large and small shareholders tend to be consistent. However, the effectiveness of the share reform is still quite controversial. One of the opinions is that the controlling shareholder of the Company conducted earnings management that is beneficial to itself before and after the share reform and earnestly encroached on the interests of minority shareholders.