Abstract: Based on the view of interlocked shareholders，this research explore the possibility financial restatement can be contagious on the network of interlocked shareholders. The bellowing findings can be provided from the paper: Interlock shareholders can prevent the financial restatement of interlock companies to some extent. But it has a contrary conclusion that the interlock shareholders increase the possibility of restatements if the interlock occurred before the restatement of contagious company. Logistic Regression shows that the possibility of restatements is significantly related to the existence of interlock shareholders. Moreover, the improvement of holding shares belong to interlock shareholders enhance the effect that interlock shareholder’s impact on the financial restatement of interlock companies. The research provide new view of shareholder’s network to explore the behavior elements influencing on the restatements. Also it is meaningful to control the restatement of public companies in view of business practice.

摘要： 本文从关联股东的角度研究财务重述在股东社会网络中传染的可能性。研究结果表明，曾经持有财务重述公司股份的股东，在持有下一家公司股份时，再次发生财务重述行为的概率会降低。但是，如果关联发生在重述公司重述前，关联公司重述的可能性则会显著增加。并且上述关系会受到关联股东地位的调节影响。研究结论从所有权网络的行为层面为财务重述研究提供了新的角度，也为应对上市公司财务重述提供了新的思路。