公司盈余管理方法选择研究——基于成本收益理论的视角

Research on the Choice of Earnings Management Method

基于成本收益理论,本文以沪深两市上市公司作为样本进行实证检验,研究管理者如何选择盈余管理方法。研究发现,真实盈余管理的成本和应计盈余管理的水平正相关。同样,应计盈余管理的成本与真实盈余管理的水平正相关,说明管理者会考虑两种方法的成本孰低进行选择。进一步发现管理者会根据当年已实现的真实盈余管理的结果,调整其应计盈余管理的水平,即两种盈余管理方法之间有替代关系。通过分析管理者选择盈余管理方法的过程,提出增加盈余管理成本,以及结合企业的具体情况,针对不同时期以及使用的盈余管理方法,采取不同监管措施的建议。

It is an important issue that earnings management related to the investor protection and accounting standards,it has hecame an important research questions in the field of accounting and even the economy.Based on cost-benefit theory,I study how firms trade off two earnings management strategies,using a large sample of Chinese listed firms.I find that managers trade off the two earnings management methods based on their relative costs and that managers adjust the level of accrual-based earnings management according to the level of real activities manipulation realized,there are substitute relationship between the two earnings management methods.The study analys the process of the managers select the earnings management methods,proposing to increase the cost of earnings management and combine with the specific* situation of firms use various measures to against earnings management.