民营化上市公司盈余质量下降的影响因素  

Factors of Earning Quality Decrease for Public Company with Private Ownership

作　　者：吕久琴[1] 惠丰廷[2] 

机构地区：[1]杭州电子科技大学会计学院,浙江杭州310018 [2]浙江科技学院经管学院,浙江杭州310023

出　　处：《杭州电子科技大学学报（社会科学版）》2010年第2期7-12,共6页Journal of Hangzhou Dianzi University：Social Sciences

摘　　要：本文以中国上海和深圳证券交易所1999-2005年间155家民营化上市公司为对象,利用实证方法,从民营化过程中企业和行业特征以及民营化前后经营绩效与治理因素的变化等视角检验了民营化公司盈余质量下降的影响因素。体制因素下的价值转移与再分配假说和监管理论提供了民营化公司盈余质量下降的制度背景与理论依据,经营状况的不稳定则是民营化公司盈余管理的内在压力。经验证据表明:引起民营化公司在民营化之后盈余质量下降的因素,不是民营化过程中的企业和行业特征,也不是公司治理因素,而是经营绩效的差异。Based on the 155 public companies with private ownership (PCPO) during 1999 to 2005,the factors are tested with the empirical method,which affected the decrease of the earning quality of the public companies from the perspective of features of the enterprises and the trades,and its performance and governance before and after its privatization.Both assumptions in the value transformation,the reallocation under the current system,and the regulation theory provide the theoretical foundation while the uneven performance turns to be the internal pressure.The result of the empirical shows that the earning quality has dropped down since the privatization,which is the difference of the performances other than the features of the enterprise and trades or the governance factors.

关 键 词：民营化 上市公司 盈余质量 动因 

分 类 号：F275[经济管理—企业管理]