财经理论与实践
財經理論與實踐
재경이론여실천
The Theory and Practice of Finance and Economics
2015年
2期
59~65
,共null页
应计盈余管理 线上真实盈余管理 线下真实盈余管理 监管者
應計盈餘管理 線上真實盈餘管理 線下真實盈餘管理 鑑管者
응계영여관리 선상진실영여관리 선하진실영여관리 감관자
Accrual earnings management; Real earnings management above the line; Real earnings management below the Line; Regulators
将盈余管理细分为应计盈余管理、线上真实盈余管理和线下真实盈余管理,基于我国特有的配股管制变迁环境,考察监管者识别盈余管理的能力及其变化。研究发现,监管者对上市公司盈余管理具有一定的识别能力,但是会受到管制环境变迁的影响,存在管制效应和演进效应。具体而言,在审核配股资格过程中,监管者能识别线下真实盈余管理,但是,在管制环境变迁后,由于线下真实盈余管理被纳入管制范围,监管者不再对其进行关注,而是关注应计盈余管理,并能识别。在线上真实盈余管理方面,由于其隐蔽性强,监管者并没有表现出显著的识别能力。
將盈餘管理細分為應計盈餘管理、線上真實盈餘管理和線下真實盈餘管理,基于我國特有的配股管製變遷環境,攷察鑑管者識彆盈餘管理的能力及其變化。研究髮現,鑑管者對上市公司盈餘管理具有一定的識彆能力,但是會受到管製環境變遷的影響,存在管製效應和縯進效應。具體而言,在審覈配股資格過程中,鑑管者能識彆線下真實盈餘管理,但是,在管製環境變遷後,由于線下真實盈餘管理被納入管製範圍,鑑管者不再對其進行關註,而是關註應計盈餘管理,併能識彆。在線上真實盈餘管理方麵,由于其隱蔽性彊,鑑管者併沒有錶現齣顯著的識彆能力。
장영여관리세분위응계영여관리、선상진실영여관리화선하진실영여관리,기우아국특유적배고관제변천배경,고찰감관자식별영여관리적능력급기변화。연구발현,감관자대상시공사영여관리구유일정적식별능력,단시회수도관제배경변천적영향,존재관제효응화연진효응。구체이언,재심핵배고자격과정중,감관자능식별선하진실영여관리,단시,재관제배경변천후,유우선하진실영여관리피납입관제범위,감관자불재대기진행관주,이시관주응계영여관리,병능식별。재선상진실영여관리방면,유우기은폐성강,감관자병몰유표현출현저적식별능력。
This study examines whether regulators can see through earnings management divided into accrual earnings management,real earnings management above the line and below the line for their regulatory decisions during rights issue approval process in China＇s institution.The evidence shows that regulators can see through earnings management during the approval process,which is affected by China＇s rights issue regulation change.Particularly,regulators can see through real Earnings management below the line before rights issue regulation change in2001,but not can do significantly afterward.Conversely,regulators can＇t see through accrual earnings management before rights issue regulation change in 2001,but can do afterward.However,real Earnings management above the line can not be seen through during the approval process in the whole period.
