盈余管理论文：扭亏上市公司盈余管理手段之间关系的研究.doc

盈余管理论文：扭亏上市公司盈余管理手段之间关系的研究【中文摘要】我国上市公司监管机构为了规范上市公司的行为,保护投资者的利益,现阶段采取以企业盈余为对象的退市监管制度,规定上市公司连续两年亏损就会被冠以“ST”标识,ST公司股票报价的日涨跌幅度限制为5%,且在下一个会计年度不能取得盈利的,就会面临退市的危险,并且在这个过程中会受到更严格的信息披露要求。在这种制度背景下,会计盈余成了将企业推向暂停上市甚至退市的唯一指标,为了避免公司亏损给企业带来的负面影响,逃避由亏损引发的对公司运营的严格监管,保住珍贵的上市资源,亏损公司会利用各种手段想法设法尽快扭亏为盈。现有大量的国内外文献已经证实亏损上市公司会通过盈余管理来进行扭亏,但是这一领域研究的问题主要集中在证实上市公司是否及何时存在盈余管理方面,而对盈余管理手段的研究,尤其是各种盈余操纵手段之间的关系方面还没有深入研究。本文从盈余管理手段之间的关系出发,试图揭示在上市公司扭亏的不同阶段使用的不同盈余管理手段之间的关系。本文以2007年至2010年开始发生亏损并最终成功扭亏的上市公司为样本,系统考察了扭亏公司在亏损年度和扭亏年度的扭亏行为,经研究发现上市公司在亏损和扭亏年度都应用了操控性会计应计利润和交易安排来进行扭亏,并且两者在上市公司亏损和扭亏阶段都呈现出替代的关系。因此审计部门和相关投资者在对公司进行评价时,应该对上市公司可能存在盈余管理的各个方面进行监督,关注这两种主要盈余管理手段之间的关系,提高对会计信息质量进行鉴别的能力。本文综合利用理论和实证的研究方法,对扭亏公司不同阶段的盈余管理手段之间的关系进行了研究。本文共分为如下四个部分：第一部分是导论,简单阐述了本文的选题背景以及本文研究的理论和现实意义,综合描述了以往国内外理论界在盈余管理领域做出的有益探索和得到的结论,并且简要说明了本文研究的内容,方法和创新点；第二部分是理论分析,分别阐述了扭亏上市公司进行扭亏盈余管理的常用手段以及这些手段之间可能存在的关系；第三部分是本文的实证研究及结果分析部分,首先分别用均值检验和逻辑回归的方法证明了操控性会计应计利润和交易安排被用于盈余管理,在此基础上通过建立回归模型来证明两者在扭亏不同阶段存在的替代关系,并且通过对交易安排具体项目以及区分不同亏损年度样本对结果进行检验,发现本文结果具有稳定性；最后一部分是文章的结论,对本研究的评价,以及根据得出的结论提出几点政策性的建议。本文的创新点在于根据盈余管理手段的影响不同将其分为操控性会计应计和交易安排两大类,采用定量的方法证明两者被用于盈余管理,最后试图揭示上市公司在扭亏过程中这两种方法之间的关系,力图给现阶段的监管提供一些建设性建议。【英文摘要】In order to regulate the behavior of the listed companies and protect the interests of investors, at present the regulate department take the company profit as the only standard to decide if delist the companies. The system decide that the companies who have successive two loss years will be named ST before their company code. Besides, the ST companies quoted price have a fluctuation range limitation of 5% everyday. If the ST companies cannot turn loss into profit in the third, they will even face the danger of being delisted. Under the background, the accounting profit become the only target to prevent the listed companies from being punished or delisted. The loss companies have to use any possible approaches to turn loss into profit. There have been many domestic and foreign literature that attested the fact that loss companies would try every means to change the loss situation, but this kind of research mostly focus on the proof of whether or when the earnings management happen. As to the approaches of earnings management, especially the the relationship the different measures there have no enough research up to today. From this view, this article try to reveal the relationship of different earnings management measures at different phases of changing loss situation.This article use the listed companies who had negative income and eventually make a profit before being delisted between 2007 and 2010 as sample companies, observe the action of the sample companies when they use different ways to making a profit to stop the loss at different phases. Through the empirical research, this article find the loss companies use both discretional accounting profit and sales arrangement to change the loss during different phases, and the two measures have substitutional relationship. The audit department and the related investors have to pay attention to the substitutional relationship of the two profit-making measures, and promote the ability of distinguishing accounting information when they evaluate the listed companies.This paper use both theoretical and empirical methods to research the earnings management measures at different phases. This paper is divided into the following four parts:The first part is introduction, this part briefly expound the background of this paper and the theoretical and practical significance of this research, it present the beneficial exploration and conclusion in this field and briefly presented the contents of the research methods and innovations of this paper; The second part if the theoretical analysis. This part introduce the common ways of earnings management and their possible relationship; The third part is the empirical part. At first, it proved the discretional accounting profit and sales arrangement are both being used in the earnings management through mean respectively inspection and logistic regression method, and then proved their alternative relationship through a regression model and the results have stability; The last part is conclusion, it evaluate this paper objectively and at last propose some policy suggestions according to the conclusion.The innovation points of this paper is to classify earnings management measures into two parts:discretional accounting accrual profit and sales management,according to their different influence bring to the companies. Besides, this paper use quantitative method instead of qualitative method to measure the sales management level. And it try to reveal the relationship between different earnings management approaches from a total different new view in order to propose some beneficial policy suggestion.【关键词】盈余管理 操控性会计应计利润 交易安排【备注】索购全文在线加好友 ：1-3-9-9.38-8-4-8同时提供论文发表委托和一对一论文写作指导服务。【英文关键词】earning management discretional accounting accrual profits sales management【目录】扭亏上市公司盈余管理手段之间关系的研究摘要2-4ABSTRACT4-51 导论8-181.1 研究背景及意义8-111.1.1 研究背景8-101.1.2 研究意义10-111.2 文献回顾11-151.2.1 国内外对于盈余管理问题的研究11-141.2.2 国内外对于盈余管理手段及其关系的研究14-151.3 研究内容和方法15-171.3.1 研究内容161.3.2 研究方法16-171.4 本文创新点17-182 扭亏公司盈余管理手段之间关系的理论分析18-242.1 扭亏上市公司盈余管理的常用手段18-222.1.1 操控性会计应计利润18-202.1.2 交易安排20-222.2 不同盈余管理手段之间的关系22-243 扭亏公司盈余管理手段之间关系的实证研究24-403.1 研究假设24-253.2 样本选取与整理25-273.2.1 研究样本和控制样本的选取25-263.2.2 研究样本的描述性统计26-