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论文编号：	8362
作者编号：	2120142442
上传时间：	2016/6/8 10:39:53
中文题目：	公允价值分层、内部控制和盈余管理——基于深沪两市金融业的实证研究
英文题目：	Fair value Hierarchy、Internal Control and Earnings Management——Based on the Empirical Test of Chinese Listed Finance Companies
指导老师：	王志红
中文关键字：	公允价值分层；盈余管理；内部控制
英文关键字：	Fair value hierarchy；Earnings management；Internal control
中文摘要：	近年来，我国的经济市场环境随着经济全球化的发展也在不断的变化着，证券市场愈来愈活跃，各类新型金融资产层出不求，商品价格也在随时随地的发生变化。在这种环境背景下，相比于仅能反应过去价值的历史成本计量，公允价值计量更能体现企业的实际市场价值，满足广大投资者的决策需求。我国在2007年颁布的新准则中开始引入公允价值计量，2014年，财政部在进行为期一年多的征求意见后，发布了《企业会计准则第39号——公允价值计量》，对公允价值的计量和披露进行了系统的规范，该准则最大的亮点之一就是提出了公允价值分层。 新准则要求上市公司披露公允价值分层计量信息，主要目的就是为了提高公允价值的可靠性，让报表使用者可以有效的评估各层次下的信息风险，从而提高财务报表的决策有用性。研究企业在公允价值分层下的盈余管理行为，可以帮助投资者更有效的识别会计信息质量，评估风险。同时，研究内部控制对于公允价值分层和盈余管理关系的影响，可以验证我国金融类上市公司在公允价值计量方面的内部控制有效性，有利于我国内部控制系统的完善，从而抑制企业的盈余管理行为，使我国的资本市场更加健康、有效。 本文以 2011-2014年披露公允价值层次信息的45家金融业上市公司为样本，经过实证分析发现金融业上市公司存在利用以第三层次计量的公允价值进行盈余管理的行为，并且这种行为主要出现在非银行类金融企业，并没有发现其利用第一、第二层次进行盈余管理的证据。当进一步探讨在不同内部控制下公允价值层次和盈余管理的关系时，发现上市公司有效的内部控制能够对公允价值计量进行规范和控制，抑制其利用以第三层次计量的公允价值进行盈余管理。 因此，金融业上市公司存在利用公允价值估值进行盈余管理的行为。为了有效抑制这种行为，我国应当对于公允价值信息披露方面有更加严格的要求，应提高会计人员的专业能力和职业判断能力，对于缺少活跃市场的资产或负债，应当谨慎使用公允价值，同时，应充分重视高质量的内部控制和外部审计对盈余管理的规范作用。
英文摘要：	In recent years, China’s market environment has been changing at a rapid pace with the development of economic globalization, the securities market become more and more active, the new types of financial assets are emerging, prices for commodity also change at all times. Under this circumstances, compared to the historical cost, which can only measure past value, fair value measurement can reflect the enterprise's actual market value, which meeting the needs of investors for making decision.In 2006, China accounting standard started to use fair value measurement model in the newly issued Accounting Standard of Business Enterprise. In 2014, after soliciting the opinions for more than one year, the Ministry of Finance released CSA Standard No. 39 - fair value measurement, giving details for the fair value measurement and disclosure. One of the biggest bright spot of the standard is the fair value hierarchy. New accounting standards required that listed companies must disclose the fair value hierarchy measurement information, and the main purpose is to improve the reliability of fair value, letting the users of financial statements can effectively evaluate the level information risk, and improve the usefulness of financial statements. Research on earnings management behavior under the fair value hierarchy can help investors to identify the quality of accounting information and assess the risk more effectively. At the same time, the study of the influence of internal control quality on the relationship between the fair value hierarchy and earnings management can help to test the internal control effectiveness of fair value measurement in the China Financial Listed Companies and it can help to improve the quality of internal control system and the companies’ earnings quality, which can make China’s capital market healthier. This paper is based on the financial data of the financial industry listing Corporation in China from 2011 to 2014 as sample, the study found that the earnings management related to fair value is existed in the financial listing Corporation. For different levels of fair value measurement of the assets, the level of earnings management is different. The listed companies are using the third level of fair value to manage earnings and the behavior is mainly serious in non-bank financial firms. The study found no evidence of company managing earnings by the first and the second level fair value. As for the further exploration of the influence of internal control quality on the relationship between the fair value hierarchy and earnings management, we found that the internal control system in the listed company can regulate the fair value measurement, inhibiting the managers from using the third level of fair value manage earnings. Therefore, the earnings management related to the valuation of fair value existed in the financial listing Corporation. In order to restrain the behavior effectively, the government should has more strict requirements for the disclosure of fair value information, and we should improve the professional ability and judgment ability of accountant. For the assets or liabilities lacking of active market, we should be prudent in the use of fair value measurement, at the same time, we should pay full attention to the influence of the effective internal control and external auditing on earnings management.
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