基于新债务重组准则的盈余管理实证研究

Empirical Research on Earnings Management based on the New Debt Restructuring Standard

对上市公司是否利用新债务重组准则盈余管理区别债务重组利得公司和债务重组损失公司进行了实证研究。检验结果表明,债务重组公司普遍经营业绩较差、资产负债率较高、上市年限较长,其债务重组当年的营业外收支金额较大,ST公司居多,新债务重组准则确实被这些公司用来降低资产负债率,改善当期经营业绩。

This paper studies whether the listed companies use the new Debt Restructuring Standard to manage earnings or not, and it＇s separately done on the companies which recognize gains of debt restructuring and loss of debt restructuring. The results show that debt restructuring companies＇ operating performance is poorer, debt - to - asset ratios are higher, listed years are longer, the amount of nonoperafing income and expense in the year of debt restructuring is greater, and ST companies are in the majority, these companies really use the new Debt Restructuring Standard to reduce debt - toasset ratios and improve current operating performance.