我国上市公司财务重述的动因研究

发布时间：2018-06-12 01:41

本文选题：财务重述 + 重述公告　；参考：《河北经贸大学》2013年硕士论文

【摘要】：近年来，我国资本市场上财务重述现象日益严重，，给上市公司、投资者带来了巨大财富损失，受到监管当局和学术界的广泛关注。本文通过对现有财务重述相关文献的梳理，发现目前研究和讨论的焦点集中于财务重述公司的特征以及财务重述带来的各种经济后果上，而探讨上市公司财务重述动因的相关研究较为缺乏。本文以我国发生财务重述的上市公司为研究对象，探讨上市公司财务重述现象频发的动因。本文回顾了前人在财务重述的概念、公司特征、动因方面的研究成果，阐述了我国财务重述的制度背景，详细分析了我国财务重述的现状，并总结出存在的主要问题是：财务重述制度不健全以及监管部门对违法违规的信息披露行为处罚力度太小。文章选取2008-2011年间沪深两市A股市场发生财务重述的上市公司作为研究样本，将上市公司发生财务重述的可能动因概括为高管高薪动因、盈利动因、融资动因、扭亏动因、债务契约动因以及簿记成本动因，并提出相应的研究假设，建立了Logistic多元回归模型，通过单变量检验与多变量回归分析发现：上市公司亏损、资产负债率及财务人员的簿记成本与财务重述正相关，而股权激励、盈余增长率、配股融资、公司规模与财务重述不相关。实证结果表明：上市公司亏损、资产负债率较高、会计业务量较大是我国上市公司财务重述发生的主要动因。根据研究的结果，提出应从上市公司加强公司治理、注册会计师提高审计质量、监管机构完善财务重述制度三个方面规范我国上市公司的财务重述行为。本文存在两个创新点：其一，选择的研究论题较为新颖。国外已有较多的理论和实证研究财务重述的动因，然而，我国学者对财务重述的研究集中在财务重述的公司特征及其市场反应相关领域，对财务重述动因的研究主要基于理论基础的规范分析，实证研究较少。其二，将簿记成本作为财务重述的动因进行了分析研究，在以往财务重述的相关研究中是鲜有的。
[Abstract]:In recent years, the phenomenon of financial restatement is becoming more and more serious in the capital market of our country, which brings huge loss of wealth to listed companies and investors. By combing the existing literature on financial restatement, this paper finds that the current research and discussion focus on the characteristics of the financial restatement company and the economic consequences of the financial restatement. However, there is a lack of research on the motivation of financial restatement of listed companies. In this paper, we take listed companies with financial restatement as the research object, and discuss the causes of frequent financial restatement of listed companies. This paper reviews the previous research results on the concept, corporate characteristics and motivation of financial restatement. This paper expounds the system background of financial restatement in our country, analyzes in detail the present situation of financial restatement in China, and concludes that the main problems are that the financial restatement system is not perfect and the punishment for illegal and illegal information disclosure is too small. In this paper, the listed companies in Shanghai and Shenzhen A-share markets are selected as the research samples, and the possible causes of financial restatement of listed companies are summarized as high salary motivation, profit motivation, financing motivation and turnaround motivation. The debt contract motivation and bookkeeping cost driver, and put forward the corresponding research hypothesis, established the logistic multivariate regression model, through the univariate test and the multivariate regression analysis, found: listed company loss. The ratio of assets to liabilities and the bookkeeping cost of financial personnel are positively related to financial restatement, but equity incentive, surplus growth rate, equity financing, and company size are not related to financial restatement. The empirical results show that the main causes of financial restatement are the loss of listed companies, the high ratio of assets and liabilities, and the large amount of accounting business. According to the results of the research, it is suggested that the listed companies should strengthen their corporate governance, and the certified public accountants should improve the audit quality. Regulators improve the financial restatement system in three aspects to regulate the financial restatement behavior of listed companies in China. There are two innovations in this paper: first, the research topic of choice is relatively novel. There have been many theoretical and empirical studies abroad on the motivation of financial restatement. However, the research on financial restatement by Chinese scholars focuses on the corporate characteristics of financial restatement and the related fields of market reaction. The research on the motivation of financial restatement is mainly based on the normative analysis of theoretical basis, but the empirical research is less. Secondly, the cost of bookkeeping as the motivation of financial restatement is analyzed and studied, which is rarely found in the previous researches on financial restatement.
【学位授予单位】：河北经贸大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F832.51

【参考文献】