摘要
在新研发会计准则的研究框架下,以2007—2009年深市上市公司为样本,对上市公司研发支出资本化选择和盈余管理动机的关系进行了实证分析。实证结果表明:上市公司研发支出资本化受债务契约和资本市场动机的影响,公司资产负债率越高,管理者越趋于把研发支出资本化处理;在经营状态不好时,上市公司为保持上市资格、扭亏为盈而趋于把研发支出资本化处理。
Using data of firms listed in Shenzhen Stock Exchange for the period from 2007 to 2009,this paper examines what motivations affect firms'decisions to capitalize RD expenditures.Empirical results indicate that the capitalizing ratio is affected by debt covenants and capital market regulation.The higher the firms'financial leverage,the more the firms tend to capitalize RD expenditures.In poor operating condition,the firms tend to capitalize more RD expenditures to maintain the listing status or to avoid loss.Motivations of compensation contracts and earnings smoothing cannot explain the choice of RD expenditures capitalizing very well.
出处
《北京理工大学学报(社会科学版)》
CSSCI
2011年第6期41-46,共6页
Journal of Beijing Institute of Technology:Social Sciences Edition
基金
国家自然科学基金创新群体科学基金资助项目(70921001/G0104
2010-2012)
关键词
研发支出
资本化
盈余管理
动机
R&D expenditures
capitalization
earnings-management
motivations