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论文编号：	8495
作者编号：	2120142426
上传时间：	2016/6/14 7:13:31
中文题目：	研发支出视域下的真实、应计和归类变更盈余管理 ——来自中国A股市场的经验证据
英文题目：	Real Earnings Management, Accrual Earnings Management and Classification-Shifting Earnings Management from the view of R&D Expenditure: Evidence from A-shares
指导老师：	陆宇建
中文关键字：	研发支出 真实盈余管理 应计盈余管理 归类变更盈余管理
英文关键字：	R&D expenditure; Real Earnings Management; Accrual Earnings Management; Classification-Shifting Earnings Management
中文摘要：	党的十八大报告明确指出，我国要实施创新驱动发展战略，全民创业、万众创新。企业作为国家的一个缩影，也只有充分重视技术研发活动，才可以在复杂多变的市场环境中求得生存和发展。中国会计准则在研发支出相关会计核算上赋予了管理层较大自由裁量权，意在刺激企业的研发热情，但这也为管理层运用研发支出进行盈余管理提供了可能。本文便聚焦于检验中国资本市场中全部三类研发支出盈余管理行为的存在及其影响因素。 论文首先对盈余管理相关文献进行了梳理，介绍企业整体盈余管理的手段、动机和经济后果，而后细化至探讨研发支出盈余管理的具体方式和度量难题。在这个基础上，论文选择并修正了Skaife模型，并应用此模型对A股上市公司经由研发支出相关科目进行真实活动盈余管理和归类变更盈余管理的盈余管理程度进行度量。另一方面，论文定义下期开发支出科目的“异常转回”为本期研发支出应计盈余管理程度的替代变量。进一步实证检验中发现，为了实现正盈利（保盈）或盈利增长（保增），资本市场中确实存在着运用研发支出进行真实盈余管理和应计盈余管理粉饰报表盈余的现象；而当无法实现“扭亏为盈”时，上市公司会转而运用研发支出归类变更手段，夸大高估值损益项目，以挽回亏损业绩的不良市场影响。此外，随着研发强度的不断增加，企业也会更加依赖于通过研发支出的会计核算进行盈余操纵。扩展研究中本文还发现无风险收益率也是上市公司进行真实盈余管理和应计盈余管理的动机，并未能发现税务机关抑制上市公司恶性盈余管理行为的经验证据。 对三类研发支出盈余管理行为的检验结果一定程度上侧面证实了上市公司对外披露的研发数据可能存在失真。因此，投资者、会计准则制定者、证券监管机构和税务机关应特别关注那些有保盈压力或保增压力的企业，以及业绩亏损却有着异常研发支出的企业，避免投资失败、资本市场失序和税收流失，共同促进市场健康、稳定、高效发展。 关键词：研发支出 真实盈余管理 应计盈余管理 归类变更盈余管理
英文摘要：	18th CPC National Congress clearly points out that China should implement innovation-driven development strategy and encourage entrepreneurial innovation. As a microcosm of the country, only pay full attention to R&D activities can company survive and develop in the complex and volatile market. PRC GAAP gives management large space for subjective judgment on R&D accounting, to some extent makes it possible for management to do the earnings management. This paper attempts to confirm the existent of three R&D earnings management behaviors in the China capital market, further probes their specific motivations. Firstly, by combing earnings management literature existed, this paper describes the means, motivations and economic consequences of all the three earnings management on the company level, and then refines to R&D field. On this basis, the paper then proposes some improvement and correction to Skaife Model, and then applies the new model to quantify the extent to R&D Real Earnings Management and R&D Classification-Shifting Earnings Management. On the other hand, this paper definite the “abnormal back” from “Development Expenditure” in the next period as the alternative variable of the extent of R&D Accrual Earnings Management. Empirical results suggest, driving by the motivation of positive profit and positive profit movement, R&D Real Earnings Management and R&D Classification-Shifting Earnings Management widely exists in the listed companies. When unable to have a positive profit, the companies will pick up the Classification-Shifting Earnings Management to exaggerate the highly-appraised gains and losses, because the high value of the highly-appraised gains and losses can partial restore the adverse impact of the loss. In addition, the more R&D expenditure, the more dependent on choosing these three R&D earnings management methods to manage earnings reported. In the expansion studies, we also confirm that Risk-free Rate is also the motivation of R&D Real Earnings Management and R&D Classification-Shifting Earnings Management. On the other hand, we don’t find the empirical evidence of inhibitory action of tax authorities on malignant earning management. In a word, this paper confirms the wide existence of all three kinds of R&D earnings management behaviors in the China capital market, implying that there may be some distortion in disclosed R&D data. Therefore, investors, setters of accounting standard, security regulators and tax authorities should pay particular attention to those who are under the positive profit pressure or positive profit movement pressure, as well as the loss-generating companies with a high level of R&D expenditure. With all these efforts, we can avoid the investment failure, capital market disorder and tax loss, and then jointly promote the healthy, stability and high efficiency of our capital market. Key Words: R&D expenditure; Real Earnings Management; Accrual Earnings Management; Classification-Shifting Earnings Management
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