Abstract:In this paper, using the data of 900 listed companies in China in 2015, based on quantile regression and quantile decomposition analysis of the external managers market, and internal governance structure of enterprise accrued and real earnings management alternative or complementary role. Research findings: (1) the strategic choice of earnings management of eastern enterprises depends not only on external governance environment, but also on the impact of their own earnings management goals; (2) under the reputation mechanism, the external manager market gave rise to the motivation of the eastern managers to obtain short term profits by reducing earnings management; (3) the influence of external manager market and corporate internal governance correspondence and real earnings management has complementary effects. This study is of great significance for the government departments to formulate relevant policies to improve the earnings quality of enterprises.