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The statistic analysis on the relationship between earnings quality and key characteristic variables in corporate governance shows that there exists an inverse U relation between independent director percentage and earning quality, and the more frequent the boards meet, the higher earning quality the firms show. The increase of board size, however, can not increase the earnings quality. The debt hypothesis of earnings management is not been approved, while the motivation of improving ROE is significant. It is concluded that the only reform of independent directors may not improve the earnings quality much ; the reform of corporate governance together with stock market reform can improve the earnings quality effectively. [ABSTRACT FROM AUTHOR]