关于转轨经济中上市公司盈余管理的动机研究

On systematic motivation research of profit management of listed companies

中国经济步入转轨经济时期 ,政府角色的转换、国有企业改革、市场体系的初步建立以及金融、会计制度的变革等都构成了上市公司盈余管理的制度背景。从经济学角度来看 ,由于存在制度的政治契约和特殊的公司约束机制 ,再加之会计准则的不完全性及注册会计师的无效监督 ,地方政府与上市公司控股股东的强有力的支持等因素 ,上市公司的盈余管理有着天然的外部环境 ,并出现了各种不同的动机 ,如报酬契约动机、首次公开发行股票动机、配股动机、防亏或扭亏动机以及保牌动机、银行借款动机、高级管理人员的变动、市场动机、税收动机。

China's economy steps into transitive economy the transformation of government function the state owned enterprises' reform, the primary establishment of market system and the innovation of financial or accounting institution are all the institutional background of the profit management of listed companies. In the eye of economics, the profit management possesses dextral situation maturally for the contractual feature of institution, the special constrained machinery, the imperfect of accounting criterion and the invalid supervision of CPA, also for the strong backing of government and shareholders in the listed companies. And there are many motivations, for example, the motivation of reward contract, the IPO, stock dividend, avoiding deficit, maintaining the certificate, crediting from banks, the changed of senior managers, the market and tax.