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论文编号：	8425
作者编号：	2120142463
上传时间：	2016/6/12 0:22:46
中文题目：	应计盈余水平和真实盈余水平替代效应研究—基于财务重述角度
英文题目：	Research on Substitution Effect of Accrual-Based and Real Earnings Management Activities
指导老师：	齐岳
中文关键字：	应计盈余；真实盈余；财务重述
英文关键字：	Accrual-Based Earnings; Real Earnings; Financial Restatement
中文摘要：	财务重述，即“年报补丁”，指的是上市公司对以前财务报告及附注的差错或纰漏重新发表公告进行改正和补充的行为。财务重述的发生，表明其财务重述期间的财务报告并未能真实、合理地反映公司的经营状况，影响了预期信息使用者的行为决策。近年来，随着市场经济体制的逐渐完善，每年发生财务重述公司的数量仍保持着较高的比重，错误的财务数据内容严重影响了信息使用者的经济行为，也影响了资本市场的资源配置，不利于市场健康地发展。本文通过财务重述相关的文献进行回顾和总结，发现财务重述的动机主要分为信息观和机会主义观。盈余管理，与财务欺诈明确不同，指的是在会计准则的范围内对财务报表盈余进行管理的行为，主要分为应计盈余管理和真实盈余管理，前者通过会计政策和会计估计变更调节报表总体盈余水平，后者则是通过真实的经营活动影响报表，两者的根本区别是是否影响现金流量。在总结盈余管理动机相关文献时，笔者发现盈余管理的资本市场动机和契约动机实质上与财务重述的信息观和机会主义观不谋而合。此外，先前文献已经提出财务重述公司相比较非财务重述公司有较高的盈余动机的结论，但是在财务重述公司重述前后盈余手段的选择、变化特点和两者的替代效应方面鲜有研究。本文具体分析了信息传递理论和代理理论，提出了一系列假设。本文选择了影响报表润的财务重述公司作为样本，通过实证分析发现，财务重述期间比非财务重述期间应计盈余水平较高，但真实盈余水平并不显著上升，另外，应计盈余水平和真实盈余水平在重述公告前后均显著负相关，表明存在替代关系，并且重述公告后负相关关系更加明显，表明公共后企业更注重盈余管理手段的替代选择。 本文将从财务重述的视角出发，研究了重述前后应计盈余水平和真实盈余水平的替代效应。在理论方面，本文丰富了在财务重述前后盈余特征的相关理论，更加具体地分析了应计盈余管理和真实盈余管理的替代效应关系，并丰富了财务行为选择的相关内容。在实际方面，本文拓展了盈余手段选择的应用范围，为信息使用者和相关的监督部门对重述公司业绩预测和行为决策提供了指导依据，有利于报告使用者和监管部门识别和预防潜在风险，对保证财务信息质量、促进市场健康发展有重要意义。
英文摘要：	Recently, financial restatement indicating that its financial report failed to show the financial statement reasonably and repeated in the market, occurred increasingly. And it has seriously affected the economic behavior of information users and make an influence in the market allocation of capital resources, conducing not to the healthy development of the market. Through financial restatements, the earning motivation is founded in early research. Earnings management, clearly different to the financial fraud, is the management on the financial statements of earnings based on the range of accounting standards, mainly divided into accrual-based and real earnings management. The former means accounting policies and accounting estimates are applied to adjust the overall level of earnings reports, while the latter means the real business activities affect the statements. The fundamental difference is whether cash flow is impacted. In this paper, it will discuss the accrual-based and real earnings management during the period of financial restatement and found the difference between pre and after the restatements. In this paper, it analyses specifically the signaling effect theory and principal-agent theory, and some hypotheses are submitted. The financial restatement, earning impacted, are chosen as samples. After the empirical research, it indicates that the accrued surplus is higher during the financial restatements than the non-financial restatements, but the real earnings level is not increased significantly. In addition, the level of accrued earnings and real earnings levels were significantly negatively correlated before and after restatement announcements, demonstrating the presence of substitution during restatement announcements period. What's more, its negative correlation is more obvious after the restatement, illustrating that the manager may pay more attention to alternative means of earnings management after the public. This article research accrued earnings levels and real earnings level before and after the restatement from the perspective of financial restatements. In theory, this paper enriches the theory before and after the financial restatement surplus features and the analysis of the substitution effect relationship of accruals earnings management and real earnings management, and abundant the content of financial behavior choices. In practice, this paper extends the scope of application of the earning management choice for users of financial information. And it will help the users of financial reports to recognize and forecast the risk.
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