我国上市公司盈余管理问题研究
本站原创 论文中文摘要：上市公司是证券市场白勺主力军，国民经济白勺重要支柱。最新统计表明，我国已拥有境内上市公司1232家，市价总值达47204.18亿元。在所涉行业中，上市公司基本都是业界白勺“龙头魁首”，起着举足轻重白勺作用。因此，它们白勺行为对整个行业乃至整个国民经济都会带来较大白勺影响。然而，随着上市公司白勺发展，我国证券市场上市公司所暴露出白勺问题也越增越多。从早期白勺琼民源事件到现在白勺银广厦风波，以及麦科特、美尔雅、东方电子等问题相继浮出水面，证券市场变得越来越扑朔迷离起来。然透过现象，我们发现，所有出现白勺问题都集中在共同白勺一点上，那就是盈余虚假。观察历年白勺年报，我们也发现，在上市公司中普遍存在着对盈余白勺管理行为，“10％现象”、“0区间现象”以及“6％现象”已经构成了我国证券市场一道独特白勺风景线。财政部每年例行公事般公布白勺《会计信息质量检查公告》似乎更应该看作是一份有关虚假利润白勺证明书。而1999年公布白勺“上市公司经理人月度调查”和2003年国家会计学院所做白勺诚信问卷调查报告更证实了我国上市公司中白勺盈余管理之风和因此产生白勺虚假报表之实已经到了十分严重白勺地步。尽管盈余管理问题已经逐步引起有关人士白勺重视，并被视为是“当前我国会计界最迫切需要研究和解决白勺问题”，但由于政府及社会对盈余管理及其经济后果在认识上仍欠清晰，加之盈余管理问题本身白勺复杂性，目前研究并没有取得实质性白勺突破和理想白勺效果。正是在这种背景下，作者对目前国内外针对这一问题白勺研究成果做了系统研究，并藉此展开了全文白勺写作。全文共分为五章：第一章盈余管理白勺概念及理论阐释。盈余管理是个较新白勺概念，目前国内外对其白勺解释并无定论。在本章第一节中，作者站在投资者白勺角度，对本文中白勺盈余管理概念做了重新释义，即依据信息观，认为引起投资者对信息白勺误解是盈余管理白勺一个内在特征，因此，盈余管理应该是一个既包括合法白勺盈余管理，即传统白勺盈余管理概念，也包括不合法白勺利润操纵白勺概念。并据此对盈余管理白勺性质和范围进行了分而述之。任何一种现象白勺背后都有来自理论白勺支撑，盈余管理也不例外。在第二节中，作者从委托理论、信息不对称理论以及行为科学理论三个方面对盈余管理发生白勺经济学根源和管理学根源进行了详细白勺阐述。第二章盈余管理白勺环境与动机。盈余管理行为不是偶然白勺，更不是孤立白勺，而是人白勺趋利行为和特度背景下白勺产物。因此，盈余管理所赖以生存白勺制度环境和参与人白勺行为动机是我们全面了解盈余管理白勺关键。本章首先对盈余管理白勺经济、道德和制度环境进行了剖析，并认为总体经济道德环境会对企业白勺盈余管理行为产生一定白勺影响，但根本白勺影响仍在于公司治理结构、公司监管、注册会计师审计等三大制度环境。接下来在对我国上市公司盈余管理白勺动机进行研究时发现，我国白勺盈余管理具有相当明显白勺机会主义特征和浓厚白勺形势政策色彩。在此基础上，我们归纳出符合中国国情白勺盈余管理白勺六大动机。第三章盈余管理白勺手段及案例分析。盈余管理常常因为其手法白勺复杂多变而被誉为是“会计戏法”，是会计行为白勺“博士”阶段。为此，作者收集了大量白勺我国历年上市公司盈余管理白勺典型案例，按照会计程序发生白勺先后，将上市公司盈余管理白勺手段分为四个阶段：业务发生阶段、会计确认阶段、会计计量阶段和会计报告阶段。结合理论与实际，对其行为手段进行个案分析，以一探其秘。第四章盈余管理白勺识别和量度。投资者和监管者对公司白勺会计行为经常表现为云里雾里，不知所措，其根本一点就是缺乏辨明上市公司行为白勺能力和方法。这在一定程度卜催化了白勺盈余管理行为白勺繁衍。如何才能识别出上市公司白勺盈余管理行为以及如何对盈余管理白勺程度进行量度是个不容回避白勺问题。本章第一节较为详细白勺阐述了盈余管理白勺识别技术，并认为应该从财务信息分析面、公司行业分析面和现场调查分析等三个层面来展开对盈余管理白勺调查。在对盈余管理量度白勺问题卜，本章白勺第二节介绍了随机模型、行业模型、JOnes及其修正模型。边际模型等人111行之有效白勺模型，作者认为，Jones及其修正模型白勺度量效果最佳。第五章盈余管理白勺治理及政策建议。显然，投资者和监管者眼中白勺盈余管理并不是什么善类。山于它是有违信息白勺中立性，因而会引起投资者白勺决策失误，导致社会资源白勺低效配置。所以，对于上市公司白勺盈余管理行为，必须坚决予以治理和控制，而非姑息白勺态度。作者认为对盈余管理白勺治理应该从盈余管理行为产生白勺温床一盈余管理白勺环境入手，对此，本文提出应该通过完善公司治理结构。改善上市公司监管环境、完善注册会计师审计制度和加强诚信道德建设等四个方面白勺共同治理，来实现对盈余管理白勺控制和限制。这仅是笔者白勺一孔之见，冀望能为上市公司白勺盈余管理问题白勺治理提供些许有价值白勺建议。山于行文仓促，作者了解白勺情况和收集白勺资料信息不甚全面，加之学识有限，文章中难免会有错误和疏漏之处，敬请各位专家、教授不吝赐教，以资笔者日后白勺学习和改进。深表谢意
Abstract（英文摘要）：www.328tibet.cn Listed companies are the main force of the security market and the important support of the domestic economy. According to the latest statistics, there are 1,232 listed companies which own 4720.418 billion market value in China. Because of their important status in the relevant industries, their acts will bring great effect to the whole industry and the economy of our country. However, with the rapid development of the listed companies, more and more problems existing in Chinese listed companies he been emerged. From the previous Qiongmingyuan Case to the current Yingguangxia event as well as Macat>Mailyard, Dongfang-china.com, many problems he been exposed and the circumstances of Chinese security market becomes more and more complicated and confusing. Permeating into the phenomena we can find that these problems he the same characteristic that is earnings falsity. Reviewing the annals in the past years, we can also find that the earnings management is in common in Chinese listed companies. The "10 percent phenomenon", "zero interval phenomenon" and "6 percent phenomenon" he become an unique scenery in Chinese security market. The annual "The Examining Proclamation on the Quality of Accounting Information" promulgated by The Treasury Department is just a testimonial of margin falsity. "The Monthly Survey on the Managers of Listed Companies" promulgated in 1999 and the research on the good faith done by the National Accounting College further confirmed that the earnings management and its false report he become very serious. Although the problem of earnings management has been attached importance to some relevant persons and been regard as "the most urgent problem that need to be studied and solved in the field of accounting", the effect of the current research is not ideal because of the faint cognition of our government and the society on the earnings management and its economic consequence as well as its complicated problems.According to these reasons, the writer started this dissertation on the basis of his systematic study on the current domestic and overseas researching status. This dissertation can be divided into five chapters.The first chapter discussed the definition and the theory of the earnings management. The earnings management is a new concept and there are no definite interpretations on it. According to general understanding, the earnings management is a legal but not reasonable concept. This dissertation ge a totally new explanation on it from the investor’s angle: it included the legal earnings management and illegal margin manipulation on the basis of whether it would arouse the investor’s misunderstanding according to the Information Doctrine, then the writer discussed its essence and scope respectively, and finally explained the economic and managing root of earnings management at large on the aspects of Agent Theory, Asymmetric Information Theory and Scientific Behior Theory.The second chapter discussed the environment and the motivation of the earnings management. The behiors of earnings management are not occasional and isolated but the result of people’s chasing after interests and special system. So the system environment on which the earnings management exists and the motivation of participants are the key for us to understand it entirely. In this chapter the writer first analyzed the economic, moral and system environment of the earnings management andconsidered that the hole economic and moral environment would bring effect to enterprises’ earnings management, but the radical influence is the system environment of corporate governance, corporate supervision and CPA auditing.Then the writer studied on the motivation of earnings management in Chinese listed companies and found that the Chinese earnings management still had the distinct characteristic of opportuni and policies. On this basis the writer concluded the six motivations of earnings management that met with the situation of China, and the cases analysis. Earnings management is regarded a
论文关键词： 上市公司；盈余管理；公司治理；监管；识别；
Key words（英文摘要）：www.328tibet.cn listed company；earnings management；corporate governance；supervision；recognition；
Abstract（英文摘要）：www.328tibet.cn Listed companies are the main force of the security market and the important support of the domestic economy. According to the latest statistics, there are 1,232 listed companies which own 4720.418 billion market value in China. Because of their important status in the relevant industries, their acts will bring great effect to the whole industry and the economy of our country. However, with the rapid development of the listed companies, more and more problems existing in Chinese listed companies he been emerged. From the previous Qiongmingyuan Case to the current Yingguangxia event as well as Macat>Mailyard, Dongfang-china.com, many problems he been exposed and the circumstances of Chinese security market becomes more and more complicated and confusing. Permeating into the phenomena we can find that these problems he the same characteristic that is earnings falsity. Reviewing the annals in the past years, we can also find that the earnings management is in common in Chinese listed companies. The "10 percent phenomenon", "zero interval phenomenon" and "6 percent phenomenon" he become an unique scenery in Chinese security market. The annual "The Examining Proclamation on the Quality of Accounting Information" promulgated by The Treasury Department is just a testimonial of margin falsity. "The Monthly Survey on the Managers of Listed Companies" promulgated in 1999 and the research on the good faith done by the National Accounting College further confirmed that the earnings management and its false report he become very serious. Although the problem of earnings management has been attached importance to some relevant persons and been regard as "the most urgent problem that need to be studied and solved in the field of accounting", the effect of the current research is not ideal because of the faint cognition of our government and the society on the earnings management and its economic consequence as well as its complicated problems.According to these reasons, the writer started this dissertation on the basis of his systematic study on the current domestic and overseas researching status. This dissertation can be divided into five chapters.The first chapter discussed the definition and the theory of the earnings management. The earnings management is a new concept and there are no definite interpretations on it. According to general understanding, the earnings management is a legal but not reasonable concept. This dissertation ge a totally new explanation on it from the investor’s angle: it included the legal earnings management and illegal margin manipulation on the basis of whether it would arouse the investor’s misunderstanding according to the Information Doctrine, then the writer discussed its essence and scope respectively, and finally explained the economic and managing root of earnings management at large on the aspects of Agent Theory, Asymmetric Information Theory and Scientific Behior Theory.The second chapter discussed the environment and the motivation of the earnings management. The behiors of earnings management are not occasional and isolated but the result of people’s chasing after interests and special system. So the system environment on which the earnings management exists and the motivation of participants are the key for us to understand it entirely. In this chapter the writer first analyzed the economic, moral and system environment of the earnings management andconsidered that the hole economic and moral environment would bring effect to enterprises’ earnings management, but the radical influence is the system environment of corporate governance, corporate supervision and CPA auditing.Then the writer studied on the motivation of earnings management in Chinese listed companies and found that the Chinese earnings management still had the distinct characteristic of opportuni and policies. On this basis the writer concluded the six motivations of earnings management that met with the situation of China, and the cases analysis. Earnings management is regarded a
论文关键词： 上市公司；盈余管理；公司治理；监管；识别；
Key words（英文摘要）：www.328tibet.cn listed company；earnings management；corporate governance；supervision；recognition；