公允价值计量下的上市公司盈余管理路径演变——基于财政部发布CAS39的实证研究

The Evolution of Earnings Management of Listed Companies under Fair Value Measurement: An Empirical Analysis Based on CAS39Issued by Ministry of Finance

文章以2011~2016年我国沪深A股非金融类上市公司作为研究样本,以2014年财政部发布《企业会计准则第39号——公允价值计量》(CAS39)为时间节点,实证检验了公允价值计量下我国上市公司盈余管理的路径。研究结果表明:我国上市公司主要通过资产减值损失、投资收益和营业外收入进行盈余管理; CAS39实施后,我国上市公司的盈余管理程度有所下降; CAS39实施后,我国上市公司盈余管理路径偏好发生变化,更倾向于利用投资收益进行盈余管理。

Based on China’s Shanghai and Shenzhen A-share non-financial listed companies from 2011 to 2016 as samples,taking the“Accounting Standard for Business Enterprises No.39--Fair Value Measurement”(CAS39)issued by the Ministry of Finance in 2014 as the time node,this paper empirically tests the path of earnings management of China'listed companies under the fair value measurement.The result shows that:Listed companies in China mainly manage their earnings through their asset impairment losses,investment income,and non-business income;After the implementation of CAS39,the level of earnings management of listed companies in China has declined;After the implementation of CAS39,the preference of earnings management path of listed companies in China is changing,and it is more inclined to the use of the investment income to manage earnings.