ST上市公司盈余管理的实证研究

Study on the empirical type of the earnings management of ST listed companies

以沪深两地截止2005年底的上市公司作为研究对象,采用Hollis等(2003)修正的截面Jones模型的方法REDCA(ROA in Estimation Discretionary Current Accruals),来衡量上市公司的盈余管理。研究发现,146家ST上市公司盈余管理程度显著比1 144家普通上市公司高总资产的2.97%,ST公司存在比较严重的盈余管理现象。

In this article, taking listed companies in Shanghai and Shenzhen before end of 2005 as research object, uses Jones＇ section mode way REDCA（ROA in Estimation Discretionary Current Accruals） which was revised by Hollis in 2003 to measure the earnings management of listed companies. The research result shows that the average total asset of earnings management of 146 ST listed companies is significantly 2.97% higher than that of 1144 common listed companies, and ST companies exist relatively serious earnings management appearance.