装备制造业上市公司会计盈余持续性的实证研究
发布时间：2018-11-26 07:55
【摘要】：会计盈余体现了企业过去一段时间内的经营成果，是公司资本增值的具体表现形式，从持续经营的角度来看，会计盈余有助于预测企业未来的业绩，为投资者评价企业未来现金流量提供信息。所以说盈余持续性是衡量盈余质量的重要指标，是利益相关者判断企业的发展情况做出正确决策的重要依据，有助于企业实现自身价值的最大化。 装备制造业是制造业的核心，是国民经济的基础，所以本文选取对国民经济发展至关重要的装备制造业作为的研究对象。本文以我国2002-2011年在上海证券交易所上市的装备制造业A股上市公司作为研究样本，通过建立模型首先考察盈余持续性是否存在于我国的装备制造业上市公司，然后根据国内外学者的研究结果，将盈余划分为应计和现金流两部分，，并研究盈余组成部分的持续性水平。研究发现，盈余应计项目的持续性低于现金流部分的持续性。应计项目的低可靠性使得我们有必要研究它同盈余持续性的联系。因此本文按照资产负债表的列示项目将盈余的应计部分进行三级细分，并研究每一层细分项目同盈余持续性的联系，结果证明应计细分项目的可靠性同盈余持续性呈正相关，即应计细分项目的可靠性水平越高，盈余的持续性越强。
[Abstract]:The accounting surplus is the concrete manifestation of the capital appreciation of the company. From the angle of continuing operation, the accounting surplus is helpful to predict the future performance of the enterprise. Provide information for investors to evaluate future cash flow. Therefore, earnings persistence is an important index to measure earnings quality, is an important basis for stakeholders to judge the development of enterprises to make correct decisions, and helps enterprises to maximize their own value. The equipment manufacturing industry is the core of the manufacturing industry and the foundation of the national economy, so this paper selects the equipment manufacturing industry as the research object which is very important to the development of the national economy. This paper takes the A share listed companies of equipment manufacturing industry listed on Shanghai Stock Exchange from 2002 to 2011 as the research sample. Through the establishment of the model, we first investigate whether the earnings persistence exists in the listed companies of the equipment manufacturing industry in China. Then, according to the research results of domestic and foreign scholars, earnings are divided into accrual and cash flow, and the persistence level of earnings component is studied. The results show that the persistence of surplus accruals is lower than that of cash flow. The low reliability of accruals makes it necessary to study its relationship with earnings persistence. Therefore, according to the items listed in the balance sheet, the accrual part of the surplus is subdivided into three levels, and the relationship between each subdivision item and the earnings persistence is studied. The results show that the reliability of the accrual subdivision item is positively correlated with the earnings persistence. That is, the higher the reliability level of accrual subdivision, the stronger the persistence of surplus.
【学位授予单位】：沈阳理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.4
本文编号：2357868
[Abstract]:The accounting surplus is the concrete manifestation of the capital appreciation of the company. From the angle of continuing operation, the accounting surplus is helpful to predict the future performance of the enterprise. Provide information for investors to evaluate future cash flow. Therefore, earnings persistence is an important index to measure earnings quality, is an important basis for stakeholders to judge the development of enterprises to make correct decisions, and helps enterprises to maximize their own value. The equipment manufacturing industry is the core of the manufacturing industry and the foundation of the national economy, so this paper selects the equipment manufacturing industry as the research object which is very important to the development of the national economy. This paper takes the A share listed companies of equipment manufacturing industry listed on Shanghai Stock Exchange from 2002 to 2011 as the research sample. Through the establishment of the model, we first investigate whether the earnings persistence exists in the listed companies of the equipment manufacturing industry in China. Then, according to the research results of domestic and foreign scholars, earnings are divided into accrual and cash flow, and the persistence level of earnings component is studied. The results show that the persistence of surplus accruals is lower than that of cash flow. The low reliability of accruals makes it necessary to study its relationship with earnings persistence. Therefore, according to the items listed in the balance sheet, the accrual part of the surplus is subdivided into three levels, and the relationship between each subdivision item and the earnings persistence is studied. The results show that the reliability of the accrual subdivision item is positively correlated with the earnings persistence. That is, the higher the reliability level of accrual subdivision, the stronger the persistence of surplus.
【学位授予单位】：沈阳理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.4
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