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论文编号：	9241
作者编号：	2220140365
上传时间：	2017/6/14 8:59:13
中文题目：	关于国资委监管公司盈余管理的研究
英文题目：	Research on Earnings Management of State - owned Assets Supervision and Administration Commission
指导老师：	陈国欣
中文关键字：	上市公司;盈余管理;扭亏为盈
英文关键字：	Listed company;Earnings management;Profitable
中文摘要：	中国证券市场自建立至今已有近二十年的历史。二十年来，以上海证券交易所和深圳证券交易所为主体的中国证券市场经历了从稚嫩走向成熟的演变，逐渐成为中国资本市场的中流砥柱，为中国经济的腾飞做出了重大贡献。证券市场的本质是一个投融资匹配的平台，而投融资匹配最重要的前提则是投资者能够充分了解投资对象的真实信息。财务报告在金融体系中发挥着至关重要的作用，而不少公司管理者为了完成所有者制定的经营目标，会在法律允许的范围内进行报表的粉饰，使得报表传递出更有利于管理者的信息，这一行为便是盈余管理。不少大公司为了成功上市或避免退市，频繁使用盈余管理手段，造成国内发生了不少“上市前三年一直维持盈利状态，一旦上市便立即亏损”以及“转为盈利的前一年都会发生巨大的亏损”等现象，使得投资者决策的制定受到了许多虚假信息的感染，更是危害了市场秩序的稳定。本文将站在监管者国资委的角度，通过分析HF公司相关财务数据，揭示此类上市公司在面对退市或ST化时所采用的盈余管理手法及合法性。基于盈余管理问题的重要性，本文将在国内外已有研究的基础上，对我国上市公司盈余管理问题进行深入分析。本文将以HF股份为例，采用理论研究与案例分析相结合的形式，从财务报告的分析入手，详细揭示我国上市公司盈余管理的动因和行为，并给出相应的政策性建议。其中，首先在前人研究的基础上，系统介绍了我国企业进行盈余管理动因，对盈余管理的识别与控制，在理论上对盈余管理的内容进行阐述；其次介绍了本文案例HF股份的基本情况；然后则以HF股份2010—2014年的财务报表为主要研究对象，对其中采用的各类管理方法展开深入剖析，并结合非会计信息，进一步分析其异常举动“保壳不保停牌”的原因。最后则在总结全文的基础上，尝试性提出盈余管理识别指标体系的建立，进一步优化监管措施，同时结合2016年《证券公司风险控制指标管理办法》及配套规则修改后的监管环境变化，针对监管中的不足提出可行性建议，抑制HF公司的盈余管理行为，能够公允地反应企业的财务状况和经营成果，从而规范市场管理秩序。
英文摘要：	It has been nearly two decades since the establishment of China’s stock market．As the main body of China’s securities market，the Shanghai stock Exchange and Shenzhen stock Exchange has experienced the evolution from immature to mature，and become the backbone of China’s capital market in these years．We Can say that the development of China’s stock market has contributed to improving China’s economy． The essence of the stock market is a platform for investment and financing matching, and the most important prerequisite for the matching of investment and financing is that investors can fully understand the true information of the investment object. The financial report plays a crucial role in the financial system, and many owners of company managers in order to complete the development of business objectives, will report whitewash within the scope of the law, making statements convey more conducive to the management of the information, this is the behavior of earnings management. Many large companies in order to avoid the successful listing or delisting, the frequent use of the means of earnings management, resulting in the domestic had many "three years before the listing has remained profitable, once listed immediately loss" and "into a year ago profit will be a huge loss" phenomenon, and make decisions by the investors many false information infection is more harmful to the market order and stability. In this paper, we will analyze the HF company's financial data from the point of view of the regulator G, and reveal the earnings management practices and legitimacy of the listed companies in the face of delisting or ST. Based on the importance of earnings management, this paper will analyze the earnings management of Listed Companies in China on the basis of existing research at home and abroad. This paper will take HF company as an example, by combining the theory and case analysis form, starting from the analysis of the financial report, detailed reveal the motivation and behavior of earnings management of the listed companies in China, and then gives the corresponding policy recommendations. The first, on the basis of previous research, introduced a system of enterprise of our country carries out the motivation of earnings management, the identification and control of earnings management, earnings management of the content in theory is introduced; then introduced the basic situation of the case of HF shares to HF shares; then from 2010 to 2014 as the main financial statements the object of study, in-depth analysis of various management methods which use, and non accounting information, further analysis of its unusual "Paul shell does not guarantee the suspension". Finally, on the basis of summing up, put forward earnings management index system is established, and further optimize the supervision measures, combined with the 2016 "securities risk control index management measures" and supporting the revised rules of changes in the regulatory environment, aiming at the shortage of supervision put forward feasible suggestions, restrain earnings management of HF company. Can the fair response to the financial position and operating results, so as to standardize the market order management.
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