关键词: 多元化经营, 政治关联, 真实盈余管理, 旅游行业

Abstract: Diversified management is a cross- product and cross- industry mode of operation an enterprise adopts when it has developed to a certain stage. In recent years，with the development of China’ s economy，tourism industry has obtained rapid development， but the concept of“individual tours”and the advancement of mobile Internet technology have a remarkable impact on the tourism enterprises. They have to find new profit growth points through new management means and methods. This paper，which uses the samples of 205 listed tourism companies in China during the 2007-2014 period，empirically tested the influence of political association and real earnings management on the travel enterprises’diversified management. The study finds that，compared with listed companies with no political association， politically associated companies’have a higher degree of diversification and that the higher the degree of real earnings management，the lower the diversification. Taking into consideration the real earnings management’ s intermediate role，the paper finds that the influence of political association on diversification is restricted，and the influence of real earnings management on diversified management varies in companies with different levels of political association.

Key words: diversified management, political association, real earnings management, tourism industry