上市公司公允价值对盈余管理的影响分析

发布时间：2018-02-12 04:10

本文关键词： 公允价值盈余管理上市公司影响因素　出处：《对外经济贸易大学》2017年硕士论文　论文类型：学位论文

【摘要】：在我国,公允价值的概念最早出现于1998年发布的《企业会计准则——债务重组》中。后来,由于当时我国市场经济秩序尚未完善,政策制定部门多次进行修订。直到2006年,中国财政部颁布新的《企业会计准则》,才再次正式确认公允价值作为一种会计计量属性。公允价值的重新使用,是顺应经济发展潮流的,有其存在的必然性。然而,国内的相关制度尚存在一定的完善空间,市场监管也存在一定的不足,导致了部分企业利用这一概念非法操纵盈余。本文以房地产类上市公司为例,探索公允价值和盈余管理的相关概念,试图分析出通过何种有效途径才能有效规范公允价值的使用。本文采用案例研究的方法,选取房地产行业上市公司万科集团作为样本,通过构建相关指标体系进行分析。首先,阐述公允价值的概念、计量方法和盈余管理的概念、特征、动因等相关理论知识。其次,具体分析公允价值计量在金融工具、非同一控制下企业合并、债务重组、投资性房地产、非货币性资产交易等领域的应用及影响。然后,通过案例研究,具体分析了近些年万科集团的财务指标,通过构建与公允价值与盈余管理相关的指标体系,包括整体指标与针对公允价值的计量的指标,针对每项指标进行计算分析,试图说明公允价值对盈余管理的实际影响。最后,列举研究结论;并提出公允价值计量下的上市公司盈余管理的建议,即加强理论研究,不断完善相关准则;加强监管,形成健康有序的市场环境;深化社会培训体系,培养高水平的从业人员;建立和完善企业内控制度,完善上市公司治理结构及股权结构;完善信息披露制度,逐步建立各行业信息流通平台。本文的主要研究结论如下:(1)公允价值在现行准则中,主要应用于金融工具、非货币资产交换、债务重组、非同一控制下企业合并和投资性房地产这五个项目中。(2)在涉及公允价值的项目中,只有金融工具和非同一控制下企业合并两个项目使用公允价值对盈余管理的影响是显著的。金融工具和非同一控制企业合并这两项业务使用公允价值对盈余管理行为的影响较大:金融工具易于操作,相对简单,且公司自主性强,不受限他方,作为盈余调节手段比较适合;非同一控制企业合并也是企业常用的盈余管理手段。(3)非货币性资产交换、债务重组以及投资性房地产项目都对盈余管理的影响较小。(4)通过分析万科集团的财务指标,分析得出万科集团在一定程度上存在利用公允价值进行盈余管理的空间。
[Abstract]:In China, the concept of fair value first appeared in the Accounting Standards for Enterprises-debt restructuring, published in 1998. Later, as the market economic order in China was not yet perfect, the policy-making department revised it many times until 2006. With the promulgation of the new Accounting Standards for Enterprises by the Ministry of Finance of China, the fair value, as an attribute of accounting measurement, was formally recognized again. The re-use of fair value conforms to the trend of economic development and has its inevitability. There is still some room for improvement in domestic related systems, and there are some deficiencies in market supervision, which leads some enterprises to use this concept to manipulate earnings illegally. This paper takes real estate listed companies as an example. This paper explores the relevant concepts of fair value and earnings management, and tries to find out which effective ways to regulate the use of fair value effectively. This paper uses the method of case study to select Vanke Group, a listed company in real estate industry, as a sample. First of all, the concept of fair value, measurement methods and earnings management concepts, characteristics, motivation and other relevant theoretical knowledge. Secondly, the specific analysis of fair value measurement in financial instruments, The application and influence of enterprise merger, debt restructuring, investment real estate, non-monetary asset transaction and other fields under the same control. Then, through the case study, the financial index of Vanke Group in recent years is analyzed concretely. Through constructing the index system related to the fair value and earnings management, including the whole index and the measurement index for the fair value, this paper calculates and analyzes each index, and tries to explain the actual influence of the fair value on earnings management. Enumerate the research conclusions, and put forward the suggestions of earnings management of listed companies under the measurement of fair value, that is, strengthen the theoretical research, constantly improve the relevant standards, strengthen supervision, form a healthy and orderly market environment, deepen the social training system, Cultivate high level employees, establish and perfect the internal control system of enterprises, perfect the governance structure and equity structure of listed companies, perfect the information disclosure system, The main conclusions of this paper are as follows: (1) Fair value is mainly used in financial instruments, non-monetary asset exchange, debt restructuring in current standards. In the case of projects involving fair value, one of the five projects, namely, merger of enterprises and investment real estate, is not under the same control. The effect of using fair value on earnings management is significant only for financial instruments and enterprises under non-identical control. The use of Fair value in earnings Management by Financial Instruments and Non-Uniform controlled Enterprises. The impact of behavior is greater: financial instruments are easy to operate, It is relatively simple, and the company has strong autonomy and does not restrict other parties, so it is more suitable as a means of adjusting earnings; Non-identical controlled enterprise merger is also a common earnings management means of enterprises. Debt restructuring and investment real estate projects have little impact on earnings management.) by analyzing the financial indicators of Vanke Group, it is concluded that Vanke Group has room to use fair value to manage earnings to a certain extent.
【学位授予单位】：对外经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F299.233.42

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