基于盈余结构的上市公司盈余质量研究

发布时间：2018-01-08 02:18

本文关键词：基于盈余结构的上市公司盈余质量研究　出处：《北方工业大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着经济发展和资本市场的繁荣,企业盈余质量问题越来越受到社会各界的广泛关注。自20世纪30年代,盈余的概念产生以来,国内外学者进行了很多研究,并得出了一些较有价值的研究结论。但从现有研究成果看,其研究主要集中于现金流、质量特征以及评价指标方面。对上市公司来说,盈余更是极其重要的财务指标,涉及到公司股票发行、股票增发、股票投资价值、是否ST等一系列重大问题。因此,进行盈余管理几乎是每个公司必然遇到并经常采用的手段之一。特别是近年来,多数行业上市公司的业绩有所下滑,企业的利润结构已经发生了较大改变,投资收益在企业利润所占比重也越来越大。但由于投资收益具有一定的不确定性,其组成部分中有些并不具有可持续性,因而,在投资收益占据利润主导地位的情况下,企业盈余的质量越来越引起信息使用者的关注。本文在梳理国内外相关文献的基础上,对企业的盈余结构进行了理论分析,包括投资收益的来源、上市公司整体盈余结构情况以及盈余不同组成部分的持久性。理论分析得出投资收益的盈余持久性显著小于经营利润的盈余持久性。在理论分析的基础上,选取我国深市A股上市公司2010-2015年的利润表数据具体分析了各个行业盈余结构的具体情况,进而分析比较了不同行业之间盈余质量的差异。同时,本文采用了多元线性回归分析、描述性统计分析、独立样本T检验,以及比较分析等方法,较深入地分析了我国深市A股2014年扭亏企业在扭亏过程中投资收益的贡献程度,将企业利润分解为经营利润、投资收益、公允价值变动损益以及其他部分等四个部分进行了相关研究,提出了上市公司盈余质量分析的基本思路和方法,据以提出了相应的对策建议。数据分析以国泰安数据库资料为样本,通过分析,得出偏向于实业的建筑业以及制造业的盈余最具可持续性,而房地产行业的利润并没有较好的预测性,在企业扭亏的成因分析中,投资收益因素起到了重要的调节作用。通过本文研究,不仅为投资者以及其他会计信息使用者全面客观地分析企业的盈余质量提供了基本思路和方法,而且进一步拓展了企业盈余质量评价体系,可以为进一步完善企业绩效评价体系提供一定的理论指导。
[Abstract]:With the development of economy and the prosperity of capital market, more and more attention has been paid to the problem of earnings quality of enterprises. Since 1930s, the concept of earnings has come into being. Scholars at home and abroad have carried out a lot of research, and have drawn some valuable conclusions. But from the existing research results, its research is mainly focused on cash flow. Quality characteristics and evaluation indicators. For listed companies, earnings is an extremely important financial indicators, involving the company's stock issuance, stock issuance, stock investment value. Therefore, earnings management is one of the methods that almost every company must meet and often adopt. Especially in recent years, the performance of listed companies in most industries has declined. The profit structure of enterprises has changed greatly, and the proportion of investment income in enterprise profits has become larger and larger. However, due to the uncertainty of investment income, some of its components are not sustainable. Therefore, under the situation that investment income occupies the dominant position of profit, the quality of enterprise earnings has attracted more and more attention of information users. This paper combs the relevant literature at home and abroad. The earnings structure of enterprises is analyzed theoretically, including the source of investment income. Theoretical analysis shows that the earnings persistence of investment income is significantly smaller than that of operating profit. On the basis of theoretical analysis. The profit statement data of listed companies in Shenzhen Stock Exchange from 2010 to 2015 are selected to analyze the specific situation of earnings structure in various industries. At the same time, this paper uses multiple linear regression analysis, descriptive statistical analysis, independent sample T-test, and comparative analysis. This paper deeply analyzes the contribution degree of the investment income in the process of the A share turnaround in the Shenzhen Stock Market in 2014, and decomposes the profit into the operating profit and the investment income. Fair value change gains and losses and other parts of the four parts of the relevant research, put forward the listed company earnings quality analysis of the basic ideas and methods. Based on the analysis, the author puts forward the corresponding countermeasures and suggestions. The data analysis takes Cathay Taian database as the sample. Through the analysis, the author draws the conclusion that the surplus of construction industry and manufacturing industry is the most sustainable. But the real estate industry profit does not have the good predictability, in the enterprise turns the loss the reason analysis, the investment income factor has played the important adjustment function. It not only provides basic ideas and methods for investors and other accounting information users to analyze the earnings quality of enterprises comprehensively and objectively, but also further expands the evaluation system of earnings quality. It can provide some theoretical guidance for the further improvement of enterprise performance evaluation system.
【学位授予单位】：北方工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F832.51

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