财经理论与实践
財經理論與實踐
재경이론여실천
The Theory and Practice of Finance and Economics
2006年
5期
72~75
,共null页
盈余管理 利润操纵 自身效用最大化 经济后果
盈餘管理 利潤操縱 自身效用最大化 經濟後果
영여관리 리윤조종 자신효용최대화 경제후과
Earnings Management ; Profit Manipulating ; Maximum of Its Own Utility ; Economic Consequence
盈余管理的动因有终极动因和中介动因，其根本目的是实现自身效用或公司市场价值最大化．其经济后果有弊也有利。而利润操纵完全是为了谋取私利，且不惜牺牲其他相关人的利益，故它是百害而无一利的。为促进资本市场的理性发展，应当完善相关的法律法规以对二者进行规避。
盈餘管理的動因有終極動因和中介動因，其根本目的是實現自身效用或公司市場價值最大化．其經濟後果有弊也有利。而利潤操縱完全是為瞭謀取私利，且不惜犧牲其他相關人的利益，故它是百害而無一利的。為促進資本市場的理性髮展，應噹完善相關的法律法規以對二者進行規避。
영여관리적동인유종겁동인화중개동인，기근본목적시실현자신효용혹공사시장개치최대화．기경제후과유폐야유리。이리윤조종완전시위료모취사리，차불석희생기타상관인적이익，고타시백해이무일리적。위촉진자본시장적이성발전，응당완선상관적법율법규이대이자진행규피。
The managers of the enterprise try their bests to do earnings management and profit manipulating by all means for their private gains, which will harm the benefit of other correlative people. The intentions of earnings management include final intention and mediate intention, and its ultimate intention is to fulfill maximum of its own utility or the market value of company, so its economic consequence has two sides. While profit manipulating is entirely for private gains, and it sacrifices the benefit of other correlative people, so it is completely harmful. In order to accelerate the rational development of capital market, we should perfect correlative laws and rules to normalize and avoid two of them.
