中国上市公司并购中盈余管理的择机行为研究
发布时间：2018-11-26 12:57
【摘要】：在并购的视角下,以中国2009年第一季度至2014年第四季度发布并购完成公告的沪深A股上市公司为研究样本,考察中国并购公司的季度性盈余管理择机行为。根据并购高风险、受关注度高等特征,结合中国上市公司盈余管理的资本市场动机和契约动机进行理论分析,并进行实证检验。实证结果显示,中国发生并购的上市公司管理者会基于资本市场动机和契约动机择机在第三季度或第四季度进行机会主义盈余管理。
[Abstract]:From the perspective of M & A, the Shanghai and Shenzhen A-share listed companies issued from the first quarter of 2009 to the fourth quarter of 2014 were taken as the research samples to investigate the quarterly earnings management opportunities of Chinese M & A companies. According to the characteristics of high risk and high attention of M & A, this paper analyzes the capital market motivation and contract motivation of Chinese listed companies' earnings management, and makes an empirical test. The empirical results show that managers of listed companies with M & A in China will choose opportunistic earnings management in the third or fourth quarter on the basis of capital market motivation and contractual motivation.
【作者单位】： 国防大学联合勤务学院;云南财经大学统计与数学学院;
【分类号】：F271;F275;F832.51
，
本文编号：2358625
[Abstract]:From the perspective of M & A, the Shanghai and Shenzhen A-share listed companies issued from the first quarter of 2009 to the fourth quarter of 2014 were taken as the research samples to investigate the quarterly earnings management opportunities of Chinese M & A companies. According to the characteristics of high risk and high attention of M & A, this paper analyzes the capital market motivation and contract motivation of Chinese listed companies' earnings management, and makes an empirical test. The empirical results show that managers of listed companies with M & A in China will choose opportunistic earnings management in the third or fourth quarter on the basis of capital market motivation and contractual motivation.
【作者单位】： 国防大学联合勤务学院;云南财经大学统计与数学学院;
【分类号】：F271;F275;F832.51
，
本文编号：2358625
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