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论文编号：	7018
作者编号：	2120122908
上传时间：	2014/12/10 9:54:39
中文题目：	H公司定向增发中的盈余管理问题研究
英文题目：	Research of earnings management in Company H''s targeted placement
指导老师：	陈国欣
中文关键字：	盈余管理;定向增发;案例分析
英文关键字：	Earnings management;Targeted placement;Case study
中文摘要：	随着经济和资本市场的发展，企业的会计信息受到越来越多的重视，在所有会计信息当中，企业的利润情况最被投资者所看重，因此企业对利润的处理结果就牵扯到众多利益相关者。由于所有权与经营权的分离以及信息不对称等事实的存在，财务信息发布者可以根据自身利益对会计结果进行调节和规划，盈余管理问题由此而生。本文通过我国A股上市企业H公司在两次定向增发再融资过程中真实案例为研究对象，从盈余管理理论与实践两个角度对盈余管理相关问题进行研究和分析，以期针对过度的盈余管理提出有效防范对策和方案。 本文共分为六个部分，第一章为绪论，说明了研究的背景、意义、方法及可能的创新；第二章为文献综述和相关理论，从盈余管理的概念和特点入手，回顾了国内外学者对此问题的观点和看法，并介绍了与此问题相关的三个经济学理论及盈余管理的动机、方法与识别，具体说明了产生盈余管理的四种主要动机及多种盈余管理方法，在本章最后，针对常用的盈余管理手段提供了相应的识别方法；第三章为案例回顾，将H公司两次定向增发的过程与增发结果对股权结构和财务状况的影响进行说明；第四章为H公司进行盈余管理的动机和影响；第五章为H公司进行盈余管理的具体会计操作；第六章为研究结论与建议，总结了前文的研究结论，并针对过度的盈余管理提供了相关政策建议。 本文选用了同一公司两次定向增发过程为研究案例，可以清晰的对比出两次增发中大股东股份一增一减的背后所做的盈余管理安排，并且从时间跨度上将两次增发结合起来分析，又贯穿联系了前后共十余年的财务和经营情况，能够更系统的呈现分析内容。本文的不足在于，由于仅对单个公司进行分析，无法进行大量的数理分析统计，不能以定量的方式说明其盈余管理的程度和影响，且第二次增发股份尚未解禁，尚无法对第二次盈余管理的效果做出最终判断。
英文摘要：	With booming of economy and capital markets, corporate accounting information obtains increasing attentions externally and internally. As the profit is the core part stakeholder/investor takes the most consideration into among all accounting information, many stakeholders would be involved into in view of profit calculation and implementation. Due to the separation of the proprietary rights from management, financial publisher is able to plan and regulate accounting output in terms of self-interest, which results in the existence of earnings management. The gist of this article is that, researching and analyzing the earnings management-related issue from the perspective of theory of earnings management and earnings practice so as to raise effective preventive measures and schemes against excessive earnings management. During the analysis, a real case, H A-share listed company would be used to indicate the measure and scheme as per how it performs in two targeted placement and re-financing. This article is consisted into six chapters; the first chapter is introduction, in which the analysis background, significance, method and possible innovation will be listed and demonstrated; the second section is literature review, in whichthe standpoint of domestic/foreign scholars’ will be reviewedby starting from introducing concept and characteristics of earnings management, and three relevant economic theories will be introduced; Third chapter is regarding to the motivation and impacts of earnings management in Company H. the fourth chapter would be case review, where author would use H company to demonstrate impact of two targeted placement and results over equity structure and financial situation; and chapter five would be about Company H’s specific accounting operation of earnings management. Chapter six is conclusion and recommendation, and summarizing the research result of preamble, and offering policy-related suggestion in regard to excessive earnings management. This article utilizes two targeted placements happened to one company as case, which can clearly reconcile the planning earnings management behind the ups and downs of shares of strong stakeholder during two targeted placements. Plus, this article also has analysis by integrating two targeted placement based on time span, and clearly demonstrate investigation by analyzing the financial and operation through more than ten years and after. The shortage of this article is that, due to only one company is used as case; there is no sufficient mathematical statistical analysis which is unable to quantify the extent and impact of its earnings management. Also, the impacts of second earnings management cannot be finally evaluated due to the second additional stocks are still on suspension.
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