会计准则导向、盈余管理方式选择与公司业绩

Accounting Standards Orientation,Choice of Earnings Management Mode and Corporate Performance

体现会计准则导向的自由裁量权为公司盈余管理提供了一种借助工具。由于应计、真实和分类转移三类盈余管理方式之间存在替代关系,本文利用2007-2017年A股上市公司样本考察会计准则导向对盈余管理方式选择的影响。研究发现,在原则导向会计准则下,公司会优先选择分类转移盈余管理,其次是真实盈余管理,最后选择应计盈余管理。在原则导向下应计盈余管理成本大大增加,成为最后选择,而分类转移可以提升公司未来业绩成为优先选择,真实盈余管理大大损害了公司未来业绩成为次要选择。进一步研究发现,机构投资者可以有效识别分类转移行为而不能识别应计和真实盈余管理行为;分析师可以识别真实盈余管理行为而不能很好地识别应计和分类转移盈余管理行为。

The discretionary power which reflects accounting standards orientation provides a tool for earnings management.Due to the substitution relationship among accrual,true and classified transfer,this paper uses the sample of A-share listed companies from 2007 to 2017 to investigate the impact of accounting standards orientation on the choice of earnings management mode.It is found that under the principle oriented accounting standards,companies will give priority to classified transfer earnings management,followed by real earnings management,and finally choose accrual earnings management.Under the guidance of principle,the cost of accrual earnings management increases greatly and becomes the last choice,while classification transfer can improve the company′s future performance and become the priority choice,and real earnings management greatly damages the company′s future performance and becomes the secondary choice.Further research shows that institutional investors can effectively identify the classified transfer behavior,but not the accrual and real earnings management behavior;analysts can identify the real earnings management behavior,but not the accrual and classified transfer earnings management behavior.