新会计准则背景下上市公司盈余管理新方法研究——沪深A股2007债务重组经验数据

Empirical Study on Earning Management 2007 on the Background of New Accounting Standards——Evidence from Debt Restructuring of Listed Companies in A Shares 2007

新会计准则与2007年1月1日开始在所有上市公司之间施行,新准则与旧准则相比一个比较大的变化是:债务重组损益可以进入损益表。文章主要就上市公司是否利用新准则的规定进行盈余管理以及存在盈余管理情况下的盈余管理方式进行了实证研究。研究结果显示资产负债率高的公司更倾向于通过债务重组进行盈余管理、ST公司更多的利用债务重组进行盈余操作,并特别检验发现在2007年扭亏的与未扭亏的公司相比前者进行债务重组的显著性非常高。最终文章还发现"营业利润"比"净利润"更能说明公司进行债务重组的动机。

New Accounting standards will be used in all listed companies, the large difference between this one and the old one is the debt restructuring policy. In the new standards the profits and loss caused by debt restructuring can be included in income sheet but it can＇t in the previous one. It is mainly studied if the listed companies use the new debt restructuring policy to manipulate their earnings. The result shows that company with higher liability/ asset ratio and ST companies will have more motivation to do earning management. Besides that, the companies are found which turn loss to profit in 2007 have a prominent attendance to manage earnings. At the last, it is also demonstrated that the ＂operate profit＂ can better identify motivating of debt restructuring than ＂net profit＂.