CAJ | 학술논문

我国2009年10月30日创业板市场的开盘为创新型中小企业提供了良好的融资平台，但受到上市条件的限制，我国创业板公司在上市过程中存在粉饰报表进行盈余管理的行为。本文以我国首批在创业板上市的36家公司为样本，运用修正的琼斯模型对创业板公司上市前后5年的盈余管理进行了实证分析。最终得出结论：我国创业板公司在上市前后确实存在着不同程度的盈余管理，在上市前呈上升趋势，上市当年达到最高，上市后缓慢下降。基于此，笔者提出了降低我国创业板公司的盈余管理程度的对策。
아국2009년10월30일창업판시장적개반위창신형중소기업제공료량호적융자평태，단수도상시조건적한제，아국창업판공사재상시과정중존재분식보표진행영여관리적행위。본문이아국수비재창업판상시적36가공사위양본，운용수정적경사모형대창업판공사상시전후5년적영여관리진행료실증분석。최종득출결론：아국창업판공사재상시전후학실존재착불동정도적영여관리，재상시전정상승추세，상시당년체도최고，상시후완만하강。기우차，필자제출료강저아국창업판공사적영여관리정도적대책。
The opening quotation of growth enterprises market on October 30, 2009 provides a good financing platform for innovative small and medium-sized enterprises. But it is limited by the listed conditions, the growth enterprises in China have the behavior of varnishing statements to manage the earnings in the process of coming into the market. This paper takes the first 36 enterprises in China come into the market as the example, uses the modified Jones model to analyze the earnings management of growth enterprises in the 5 years. The final results show that: there are different degrees of earnings management of the growth enterprises in China before and after coming into the market. Before listing, the earnings management is on the rise, it is the highest in the listed year, after listed it slowly declines. Based on this, the author puts forward the measures to decrease the degree of earnings management of the growth enterprises in China.