宏观调控对房地产企业盈余管理的影响

发布时间：2018-06-20 17:23

本文选题：房地产企业 + 政策调控　；参考：《东北财经大学》2013年硕士论文

【摘要】：随着近年来我国房地产行业的蓬勃发展,其日益成为高风险、高收益的行业,并受到越来越多的人的关注和青睐。与此同时,房地产行业的盈余管理行为亦不容忽视,盈余管理不仅会影响投资者的投资决策,更重要的是阻碍我国证券市场的健康发展,因此我们有必要揭示房地产企业的盈余管理行为,并提出有效的改善和管制措施。本文针对房地产行业会计核算的特点和盈余管理的主要手段的分析,结合近年来国家出台的一系列调控政策,用实证研究的方法,揭示出政策调控对房地产行业盈余管理行为的影响,以及国有企业和非国有企业对政策调控的不同反应。本文首先在盈余管理相关理论和房地产行业盈余管理特点的基础上,阐述了盈余管理的动机和手段,并讨论了房地产行业盈余管理的特殊手段。然后选取了2002-2010年上市的房地产企业作为研究样本,从实证角度对政策调控之下我国房地产企业盈余管理的行为进行了研究。实证研究模型设计中,在对国内外盈余管理计量模型进行阐述和分析的基础上,对扩展的琼斯模型进行了改进,基于房地产企业会计核算的特点考虑了预收账款因素。在度量政策调控期间盈余管理程度时,在计量模型中加入了政策调控哑变量,在研究政策调控期间国有企业和非国有企业对政策调控的不同反应时,加入了企业性质哑变量,选取了房地产上市公司数据,对盈余管理模型参数进行了估计,并对盈余管理计量模型进行了F检验和t检验,验证了模型的适用性。并对盈余管理测度值和操纵性变量之间进行了多元回归,考察了两者之间的关系。为了提高实证结果的可靠性,本文对模型进行了稳健性检验。最后针对实证研究的结果提出了规范房地产企业盈余管理行为的建议。本论文主要包括以下部分：第一部分为绪论,关于研究背景和选题意义,以及国内外关于盈余管理行为研究的文献综述,同时介绍了本文的研究框架和方法。第二部分为理论部分,主要阐述了盈余管理相关理论、盈余管理的动因和手段以及盈余管理计量模型并介绍了房地产行业调控措施。第三部分为实证研究设计部分,包括假设的提出、模型的建立、变量、数据的选取等,为下一部分实证回归奠定基础。第四部分为实证检验。此部分首先对样本进行描述性统计和回归分析,对本文的研究假设进行实证检验,结合近年来的房地产行业宏观调控政策对实证结果进行分析。随后为了保证研究结果的准确性和可靠性,又进一步对样本数据进行了稳健性检验。第五部分研究结论及不足。此部分总结了本文的研究成果,并提出政策意见；同时梳理了本文研究的不足之处,为将来的进一步研究奠定基础。本文主要采用实证研究的方法,研究了政策调控对房地产企业盈余管理行为的影响,对于房地产行业调控政策的制定和实施具有重要指导作用。
[Abstract]:With the rapid development of China's real estate industry in recent years, it has become a high risk, high income industry, and has attracted more and more people's attention and favor. At the same time, the earnings management behavior of the real estate industry can not be ignored. The earnings management will not only affect the investment decision of investors, but also hinder the securities market of our country. As a result, it is necessary for us to reveal the earnings management behavior of real estate enterprises and to put forward effective measures to improve and control. In this paper, the characteristics of the real estate industry accounting and the main means of earnings management are analyzed, and a series of regulatory policies issued by the country in recent years have been combined with the methods of empirical research to reveal the government. The impact of strategic regulation on earnings management in real estate industry, as well as the different responses of state-owned enterprises and non-state-owned enterprises to policy regulation.
On the basis of the related theories of earnings management and the characteristics of earnings management in the real estate industry, this paper expounds the motivation and means of earnings management, and discusses the special means of earnings management in the real estate industry. Then, it selects the real estate enterprises listed in the 2002-2010 years as the research sample. The behavior of earnings management in real estate enterprises has been studied.
In the model design of empirical research, based on the exposition and analysis of the domestic and foreign earnings management model, the extended Jones model is improved. The accounts receivable factors are considered based on the characteristics of the accounting of real estate enterprises. The policy regulation is added to the measurement model when measuring the degree of earnings management during the period of policy regulation and control. The dumb variable, in the study of the different reactions between the state and non-state enterprises during the policy regulation and control, the dumb variable of the enterprise is added, the data of the listed real estate companies are selected, the parameters of the earnings management model are estimated, and the F test and the t test are carried out for the earnings management model, which verifies the applicability of the model. The multiple regression between earnings management measurement and manipulation variables was conducted to examine the relationship between them.
In order to improve the reliability of the empirical results, this paper test the robustness of the model. Finally, according to the empirical results put forward the standard of earnings management behavior of real estate enterprises.
This paper mainly includes the following parts:
The first part is the introduction about the research background and significance, and domestic and foreign research on the behavior of earnings management literature review, and introduces the research framework and methods of this paper.
The second part is the theoretical part, mainly expounds the related theory of earnings management, motivation and means of earnings management and earnings management and introduces the econometric model of the real estate industry regulation and control measures.
The third part is the design part of the empirical study, including the hypothesis, the establishment of the model, the variables, the selection of data, and so on, laying the foundation for the next part of the empirical regression.
The fourth part is an empirical test. Firstly, this part carries out a descriptive statistics and regression analysis on the sample, and carries out an empirical test on the research hypothesis in this paper, and analyzes the empirical results with the macroeconomic regulation policy of the real estate industry in recent years. The robustness test.
The fifth part of the research conclusions and shortcomings. This part summarizes the results of this study, and puts forward the policy suggestions; at the same time, it combs the shortcomings of this study and lays the foundation for future further research. This paper mainly uses empirical research methods to study the effect of policy regulation on the earnings management behavior of real estate enterprises. The formulation and implementation of regulation policies in the real estate industry play an important guiding role.
【学位授予单位】：东北财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F299.233.4

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