房地产上市公司管理能力与盈余质量的关系研究

发布时间：2018-01-04 08:31

本文关键词：房地产上市公司管理能力与盈余质量的关系研究　出处：《西南交通大学》2014年硕士论文　论文类型：学位论文

【摘要】：从我国现有的上市公司对外披露信息体系我们可以发现,外部投资者获取企业相关信息的主要来源为企业财务报表。在财务报表信息中,人们最为关注的是企业会计盈余信息。但是在不同的行业背景以及宏观环境、国家政策等因素的影响下,企业会计盈余信息的质量参差不齐。在这种情况下,对于盈余质量的研究受到了研究学者的广泛关注。国外学者对于盈余质量影响因素的研究主要是从公司属性角度进行研究,如管理层持股比例、董事会属性等。国内学者关于盈余质量影响因素的研究主要集中于管理层特征,如高管性质、持股比例、薪资激励等,但是很少有人从管理能力角度对盈余质量进行研究。本文基于契约理论和信息不对称理论,运用实证研究的方法,对管理能力与公司盈余质量的关系进行深入的分析,研究我国沪深两市A股市场中房地产公司管理能力与盈余质量的相关性。本文第一部分总结管理能力和盈余质量的研究成果；第二部分提出了理论基础并总结了学者们对于盈余质量不同角度的定义和计量方法,并对管理能力和盈余质量之间的关系进行了理论研究；第三部分对管理能力的计量方法进行总结,并根据Dermanjian (2013)提出的管理能力的新计量方法,利用数据包络分析法(DEA)得到企业的效率,然后剔除企业固有因素对企业效率的影响从而得到企业管理能力,通过选取2003年到2012年的数据计算得到了近十年房地产行业上市公司管理能力的变化趋势；第四部分是实证部分,本文选取2008-2012年的房地产业上市公司作为样本,首先研究管理能力指标的度量,从盈余结构角度利用修正的Jones模型对企业盈余质量进行度量；从会计准则角度用盈余的持续性对盈余质量进行度量。最后采用多元线性回归方法分别对管理能力与操纵性应计利润和管理能力与盈余持续性之间的关系进行验证,得到相应的结论。研究结果表明,管理能力与操纵性应计项呈显著负相关关系；管理能力与盈余持续性正相关。也就是说管理能力的提高会相应的提高公司的盈余质量。这一结果告诉我们资本市场在通过制定严格的制度和监管机制来保证企业盈余信息的真实性的同时,企业本身还可以通过管理者的学习能力、金融关系能力、信息处理能力等多方面提高企业管理能力,从而达到提高企业盈余质量的目的。
[Abstract]:From our existing listed company information disclosure system we can find the main source of external investors to obtain corporate information for enterprise financial statements. In the financial statements of information, people are most concerned with accounting earnings information. But in different industry background and macro environment, and other factors under the influence of national policy and the quality of accounting earnings information uneven. In this case, the research on earnings quality has attracted wide attention of scholars. Foreign scholars studied the influence factors of earnings quality is mainly studied from the company perspective, such as the proportion of managerial ownership, board attributes. The domestic scholars on the study of the factors of earnings quality mainly focused on the influence of management features, such as the nature of ownership, executives, incentive pay, but few people from the perspective of earnings management Quality is studied.
Based on contract theory and information asymmetry theory, this paper makes an in-depth analysis of the relationship between management capability and earnings quality by empirical research, and studies the correlation between management capability and earnings quality of real estate companies in A share market of Shanghai and Shenzhen two cities.
The first part of this paper summarizes the research results of management ability and earnings quality; the second part puts forward the theoretical foundation and summarizes the scholars for different angles of earnings quality definition and measurement method, and the relationship between management and earnings quality were studied; third part measurement methods of management ability are summarized, and based on Dermanjian (2013) a new measurement method put forward management capabilities, using data envelopment analysis (DEA) to get the efficiency of enterprises, enterprises and eliminating the influence of inherent factors on the efficiency of enterprises and enterprise management ability, the change trend of computing has been nearly ten years of real estate industry listed companies from 2003 to 2012 by management data; the fourth part is the empirical part, this paper selects 2008-2012 years of real estate listed companies as the sample, the first study of the management ability refers to The subject from the angle measurement, earnings structure using the modified Jones model to measure the earnings quality; from the perspective of accounting principles for the earnings persistence of earnings quality metrics. Finally, using multiple linear regression method is applied to the management and manipulation of accruals and relationship between the physical ability and the persistence of earnings is verified and obtain the corresponding results. The results show that the ability of management and manipulation of accruals is negatively related; management ability and earnings persistence is positively related. That is to say the earnings quality and improve the management capacity of the company will be a corresponding increase. This result tells us in the capital market through the establishment of strict system and the supervision mechanism to ensure the authenticity of the earnings information at the same time, the enterprise itself can also through the managers of financial relations ability, learning ability, the ability of information processing. The purpose of improving the quality of earnings is to improve the management ability of enterprises.

【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.4;F275

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