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论文编号：	2028
作者编号：	041822
上传时间：	2010/5/18 11:17:24
中文题目：	上市公司长期资产减值与盈余管理关系的实证研究
英文题目：	Write-downs of long-term assets Earnings management
指导老师：	黄菊珊
中文关键字：	长期资产减值 盈余管理 琼斯模型 可操控性应计利润
英文关键字：	Write-downs of long-term assets Earnings management Modified Jones Model Discretional accruals
中文摘要：	长期资产减值是准则制定机构、会计理论界、企业管理者和商业媒体都很关心的问题，主要是因为长期资产数额巨大，其减值损失对资产的账面价值、会计收益、资本市场上的股票收益都有很大的影响，而且其会计处理离不开估计和预测，企业可能会利用各种判断进行盈余管理。为了规范实务中长期资产减值的会计处理，美国财务会计准则委员会(FASB)和国际会计准则委员会(IASB)分别于1995年和1998年颁布了相应的会计准则。我国在2000年发布的《企业会计制度》将资产减值计提范围由四项扩大到八项，除长期投资外又增加了固定资产、在建工程、无形资产和委托贷款四项长期资产的减值准备，使我国企业在大部分长期资产减值会计处理问题上也有了依据可循。但我国的资产减值规范还存在许多有待完善之处，而国内学者对长期资产减值问题的研究不多。本文希望通过对相关问题的研究，能够对我国长期资产减值相关规范的发展和完善有所裨益。 研究分为理论和实证两个方面，重点是对上市公司长期资产减值与盈余管理的相关性进行检验。理论部分，在总结国内外关于资产减值和盈余管理研究成果的基础上，分析了资产减值的理论基础和制度背景，盈余管理的理论渊源和计量方法。认为：长期资产减值政策的不完善及其选择的灵活性，使得管理层利用长期资产减值进行盈余管理成为可能。实证部分，首先以2002年沪深股市计提了长期资产减值的A股上市公司为研究对象，采用修正的琼斯模型对盈余管理现象进行检验，之后从经营业绩和市场反应角度，对长期资产减值与盈余管理的关系进行进一步的检验。得出以下结论：长期资产减值政策在上市公司中得到普遍执行；管理层在减值当年计提了大量的长期资产减值准备，但是当年计提的长期资产减值准备并未在其后两年转回；长期资产减值真实地反映了资产未来收益能力的下降，投资者也认为长期资产减值是管理层对于企业未来业绩的真实预期，因而对长期资产减值期末总量做出了负向的反应。这一结果证实了我国实施的长期资产减值政策并没有沦为盈余管理的手段，而是为公司夯实长期资产，如实反映公司资产未来收益能力提供了政策途径。
英文摘要：	Long-lived asset impairment has been of particular interest to regulators, academics, managers and business press, which is mainly because long-lived assets usually have enormous amounts and their impairment, would have great impact on the book value of assets, accounting earnings and market returns. Furthermore, accounting of asset impairment can’t depart from estimates and forecasts, which allow firms to use the judgments to manage earnings. In order to standardize the accounting of long-lived assets in practice, FASB and IASB issued related standards in 1995 and 1998 respectively. China issued “accounting regulations for business enterprises” in 2000, which enlarged the scope of impairment loss recognized in “accounting regulations for the limited companies” from four items to eight items. Except long term investment, the regulation added other three long-lived asset impairment: fixed assets, assets in building and intangible assets, which give gist to accounting of most long-lived assets impairment in practice. But there are many points to be improved in the regulations for long-lived asset impairment. There are few researches on asset impairment in domestic academics. This paper is expected to be helpful to improve and perfect the regulations through the study on the related questions. The paper includes theoretical and empirical research, especially highlighting the empirical research on the relativity of assets impairment and earnings management of listed companies. In the theoretical research, based on the review of the foreign and domestic documents, we analyze the theoretical foundation and system background of assets impairment, the theory origin of earnings management. Think: it’s the no perfection the policy of assets impairment and flexibility of choosing how to use the policy of assets write-downs that make assets impairment become the tool of earnings management. In the positive research, we choose the listed companies which recognized long-lived asset impairment both in Shanghai and Shenzhen stock exchange from 2002 to 2004 as research samples. Then we adopt the Modified Jones Model and make describing statistics and regression analysis using statistical analysis software. Later, we verify further the result of study through the perspective of accounting performance and market reaction. The result shows that Chinese listed companies wrote down impaired long-lived assets at large during these years and the total amount of the write-offs really reflected the decline of their future profitability. In a word, the Long-lived asset impairment provides the policy for the listed companies to tamp long-term assets and reflect the true value of them.
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