我国上市公司财务报表重述的市场反应研究

发布时间：2018-01-15 06:18

本文关键词：我国上市公司财务报表重述的市场反应研究　出处：《经济管理》2011年07期 　论文类型：期刊论文

【摘要】：近年来,上市公司财务报表重述现象日趋频繁,引起了监管层、投资者和国内外学者的广泛关注。本文以2008～2010年沪深两地A股上市公司发布的234份财务报表重述公告为研究对象,运用实证研究方法,全面、系统地分析了财务报表重述的市场反应,以考察不同特征重述公告发布前后的股价表现。研究表明,我国股票市场对重述公告的特征具有一定的识别能力:更正公告,涉及核心利润、税费问题的重述公告,调减盈余的重述公告以及较高频率的报表重述均会带来显著的负面市场反应;而其他特征的重述公告发布前后的市场反应较为微弱。最后,本文根据实证分析结果提出了相应的对策建议。
[Abstract]:In recent years, the phenomenon of financial statements restatement of listed companies is becoming more and more frequent, causing regulatory layer. Investors and domestic and foreign scholars are concerned widely. This paper takes 234 financial statements restated announcements issued by A-share listed companies in Shanghai and Shenzhen from 2008 to 2010 as the research object and uses empirical research methods. This paper comprehensively and systematically analyzes the market reaction of the restatement of financial statements in order to investigate the stock price performance before and after the publication of the restatement announcement with different characteristics. China's stock market has a certain ability to identify the characteristics of the restatement announcement: correction notice, related to core profits, tax and fee issues of the restatement announcement. The restatement announcement of the reduction surplus and the higher frequency of the report restatement will bring about the significant negative market reaction; However, the market response before and after the restatement announcement of other features is weak. Finally, this paper puts forward corresponding countermeasures and suggestions according to the results of empirical analysis.
【作者单位】：中南财经政法大学会计学院;
【基金】：国家自然科学基金项目“会计形式趋同是否带来实质趋同?——与IFRS趋同的准则执行”(70972113) 中央高校中南财经政法大学基本科研业务项目“中国会计准则国际趋同战略研究”(2009079)
【分类号】：F231.5;F224;F832.51
【正文快照】： 一、引言财务报表重述是公司对前期财务报表存在的差错、遗漏等情况采取的事后补救措施,是对历史财务信息的重新表述。近年来,发布财务报表重述公告的上市公司所占比例一直居高不下,且有愈演愈烈之势,每年约有15%的上市公司发布各类重述公告(魏志华等,2009)。何威风等(2010)

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