频数分布法与上市公司盈余管理动机研究

The Method of Frequency Distribution and the Research of Motivation about Earnings Management in Listed Companies

频数分布法是研究上市公司盈余管理动机的一种方法。通过采用频数分布法研究我国A股上市公司的盈余管理行为,发现我国上市公司为了避免亏损或为了获得配股权及增发权而通过盈余管理将净资产收益率(ROE)维持在略高于0、6%与10%的区间上。进一步分析总资产收益率(ROA)的分布,证明其与ROE的分布存在系统性差异,说明上市公司为了达到配股及格线可能操纵了净资产。上市公司盈余管理行为随着配股政策和增发政策的演进而改变。

The method of frequency distribution can be used to study the motivation of earnings management in listed companies. By using the method of frequency distribution, the authors of the present paper conducted a research about the behavior of earnings management, and found evidences to prove the existence of earnings management in Listed Company in China, which is used to avoid punishment of ST and to gain right issue and SEO. Furthermore, the authors analyzed the distribution of ROA and found the systematic difference between ROA and ROE, which also proved the fact that the earnings management is true.