我国创业板上市公司盈余管理问题研究

发布时间：2018-01-10 08:40

本文关键词：我国创业板上市公司盈余管理问题研究　出处：《江苏科技大学》2013年硕士论文　论文类型：学位论文

【摘要】：几经周折，面向创新型中小企业的创业板市场终于在2009年10月顺利推出。设立创业板市场是我国促进中小企业发展、推进科技自主创新、促进产业结构升级的重要战略举措，对我国经济发展具有重要意义。对于新推出的创业板市场，是否也像主板市场和中小板市场一样存在盈余管理行为，这是本文研究的重点。国内外的实践和研究都表明，创业板市场健康发展的核心是上市公司必须具备创新能力和成长性。并且我国创业板发行管理办法也对上市公司设置了最低盈利标准及业绩成长性要求。创业板上市公司是否具有真的成长性，，还是通过盈余管理得到的结果，非常值得我们关注。盈余管理会导致创业板公司的会计盈余信息失真，加剧各利益相关者之间的信息不对称，从而误导监管机构和外部投资者的价值判断，最终不利于创业板市场健康发展。本文采用规范研究和实证研究相结合的方式，以创业板上市公司为研究对象，结合能够获得的最新研究数据，深入探讨了创业板上市公司可能存在的盈余管理行为。首先，从理论角度出发，介绍了与盈余管理相关的理论背景，分析了产生盈余管理的经济原理和实施动机。其次，介绍了创业板的相关理论，具体阐述了发生盈余管理的制度背景，包括发行审核制度、信息披露制度和退市制度。并结合创业板的制度特征，介绍了创业板上市公司的盈余管理手段。最后，从实证研究角度，选取了2009-2010年上市的181家公司作为研究样本，利用修正的现金流量琼斯模型对上市期间是否进行盈余管理进行了定量分析。本文得出的结论如下：经过实证检验，加入经营现金流的修正琼斯模型要比修正的琼斯模型更好地检测盈余管理行为。并发现所选取的样本在上市期间进行了调增收益的盈余管理，成长性指标会诱发上市公司进行盈余管理行为。
[Abstract]:After several setbacks, the gem market for innovative SMEs was finally launched in October 2009. The establishment of the gem market is to promote the development of small and medium-sized enterprises in China, promote independent innovation in science and technology. The important strategic measures to promote the upgrading of industrial structure are of great significance to the economic development of our country. As for the newly launched gem market, whether there are earnings management behaviors in the new gem market as well as in the main board market and the small and medium-sized board market. This is the focus of this paper. Practice and research both at home and abroad show that. The core of the healthy development of the gem market is that the listed companies must have the ability to innovate and grow. Moreover, the management methods of the gem also set the minimum profit standard and the performance growth requirements for the listed companies. Whether the listed company has the real growth. Earnings management will lead to the distortion of accounting earnings information of gem companies and aggravate the information asymmetry among stakeholders. Thus misleading the value judgment of regulators and external investors is not conducive to the healthy development of gem market. This paper combines normative research with empirical research, taking gem listed companies as the research object, combined with the latest research data that can be obtained. This paper deeply discusses the possible earnings management behavior of listed companies in gem. Firstly, it introduces the theoretical background related to earnings management from a theoretical point of view. This paper analyzes the economic principle and implementation motivation of earnings management. Secondly, it introduces the relevant theory of gem, and expounds the background of earnings management system, including the issue audit system. Information disclosure system and delisting system. Combined with the characteristics of gem system, this paper introduces the earnings management methods of gem listed companies. Finally, from the perspective of empirical research. This paper selects 181 companies listed in 2009-2010 as the research sample and uses the modified cash flow Jones model to quantitatively analyze whether earnings management is carried out during the period of listing. The conclusion of this paper is as follows: through empirical test. The modified Jones model with operating cash flow is better than the modified Jones model to detect earnings management behavior. Growth indicators will induce earnings management behavior of listed companies.
【学位授予单位】：江苏科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F832.51

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