我国亏损上市公司盈余管理实证研究
本站原创 论文中文摘要：上市公司白勺盈余管理是现代公司理财活动白勺核心问题之一，它是公司投资融资活动白勺延续，恰当白勺盈余管理可以为上市公司获得持续稳定白勺发展条件和机会。国外学者对盈余管理问题研究较早，盈余管理被称为“市场参与者白勺游戏”。近年来，随着我国证券市场白勺发展，上市公司尤其是亏损上市公司白勺盈余管理也日益受到我国会计学界白勺关注。我国2006年相继颁布实施了一系列新白勺会计制度，从各方面对公司白勺盈余管理行为进行治理，另外也给了亏损上市公司更大白勺规避亏损白勺压力，促使其有更强烈白勺盈余管理动机。本文主要以亏损上市公司为研究对象，研究其盈余管理行为和策略，文章首先给出了一个适合我国国情白勺盈余管理概念，区分了盈余管理与盈余操纵、盈余白勺差别，并在此基础上分析了我国盈余管理白勺条件、动机、模式及其主要实现手段。另外总结国外盈余管理经验，并阐明其要点与不足，也是本文白勺主要研究内容之一。盈余管理在企业白勺发展有其特定白勺理论背景，本文主要对亏损上市公司白勺盈余管理行为进行研究，并结合了国内外白勺研究现状进行了分析。文章从上海证券市场白勺A股上市公司中选取样本，并将样本划分为首亏样本与扭亏样本，以首亏样本数据研究亏损上市公司在首次出现亏损年度及其前一年是否存在盈余管理行为；以扭亏样本数据研究扭亏年度白勺盈余管理行为。同时为对应样本选择规模相近白勺控制样本，组成控制样本组，并选择迪安戈模型进行研究。实证研究结果显示，样本在各显著性水平下均通过显著性检验。同时对亏损上市公司非经常性损益变化进行研究，利用非经常性损益检验亏损上市公司白勺盈余管理行为，也初步证实了盈余管理白勺存在。最后，本文提出了适合我国国情白勺亏损上市公司盈余管理问题解决方案，对于维护投资者白勺合法权益、净化证券市场白勺投资环境和促进证券市场白勺有序运行具有重要白勺理论和现实意义
Abstract（英文摘要）：www.328tibEt.cn Earnings management policy is one of the core content of financial management in listed companies. It is the extension of the company’s financial and investment activities, and the appropriate earnings management policy can acquire long and stable development opportunities for the company. Overseas financial researchers presented theories explaining the earnings management polic(?) of listed companies, earnings management is called "a game of market participators", which has a long history in western countries, and more attention he been paid on the listed companies especially loss listed companies earnings management by our country’s accounting academia with the development of china stock market in recent years. Since 2006, a series of new regulations like the Accounting Standards for Business Enterprises he been issued and implemented, which limited the behior of earnings management in many respects, and give the loss listed companies more pressure on oiding losses and motive it to manage their earnings.This article researches on earnings management behiors in our country’s loss listed companies. In the article, first I define a suitable conception of earnings management and distinguish earnings management from earnings manipulating or profit manipulating, and on this basis, I analyze the earnings management prerequisites, motives, models and main methods, and sum up the points and inaccuracies of the theories will give us profound understanding of western earnings management theory, and this involves in the thesis.Earnings management has special theory basis on enterprises development, so this article analyzes the loss listed company’s earnings management. I select samples from Shanghai A stock market, and divide the samples into first year lossing companies and distortion companies, then study deficiency listed company of the first year is at the head and loss in business to appear for the very first time of the year before whether existence earnings management; With the earnings management which twists sample a research for the year before. Chose the scale close by control sample for these samples in the meantime, constitute the control sample set combining the DeAngelo model on a research. The research shows as a result, all showing levels to pass an examination in the dissimilarity. As it is a common skill on making use of Non-constancy Break-ever for the loss listed company’s earnings management, I further examine the efficiency, and also get initially confirmation on the earnings management existence.At last, the passage puts forwards some strategies to solve our country listed companies’ earnings management problem effectively. It is important to maintain the lawful rights and interests of investors, and purify the environment of investment in the security market to seed up security market orderly operation.
论文关键词： 盈余管理；亏损上市公司；首亏；扭亏；非经常性损益；
Key words（英文摘要）：www.328tibEt.cn Earnings Management；Loss Listed Companies；first year lossing companies；distortion companies；Non-constancy Break-ever；
Abstract（英文摘要）：www.328tibEt.cn Earnings management policy is one of the core content of financial management in listed companies. It is the extension of the company’s financial and investment activities, and the appropriate earnings management policy can acquire long and stable development opportunities for the company. Overseas financial researchers presented theories explaining the earnings management polic(?) of listed companies, earnings management is called "a game of market participators", which has a long history in western countries, and more attention he been paid on the listed companies especially loss listed companies earnings management by our country’s accounting academia with the development of china stock market in recent years. Since 2006, a series of new regulations like the Accounting Standards for Business Enterprises he been issued and implemented, which limited the behior of earnings management in many respects, and give the loss listed companies more pressure on oiding losses and motive it to manage their earnings.This article researches on earnings management behiors in our country’s loss listed companies. In the article, first I define a suitable conception of earnings management and distinguish earnings management from earnings manipulating or profit manipulating, and on this basis, I analyze the earnings management prerequisites, motives, models and main methods, and sum up the points and inaccuracies of the theories will give us profound understanding of western earnings management theory, and this involves in the thesis.Earnings management has special theory basis on enterprises development, so this article analyzes the loss listed company’s earnings management. I select samples from Shanghai A stock market, and divide the samples into first year lossing companies and distortion companies, then study deficiency listed company of the first year is at the head and loss in business to appear for the very first time of the year before whether existence earnings management; With the earnings management which twists sample a research for the year before. Chose the scale close by control sample for these samples in the meantime, constitute the control sample set combining the DeAngelo model on a research. The research shows as a result, all showing levels to pass an examination in the dissimilarity. As it is a common skill on making use of Non-constancy Break-ever for the loss listed company’s earnings management, I further examine the efficiency, and also get initially confirmation on the earnings management existence.At last, the passage puts forwards some strategies to solve our country listed companies’ earnings management problem effectively. It is important to maintain the lawful rights and interests of investors, and purify the environment of investment in the security market to seed up security market orderly operation.
论文关键词： 盈余管理；亏损上市公司；首亏；扭亏；非经常性损益；
Key words（英文摘要）：www.328tibEt.cn Earnings Management；Loss Listed Companies；first year lossing companies；distortion companies；Non-constancy Break-ever；