是盈余稳健性还是盈余管理?来自中国证券市场的经验证据  

Earnings Conservatism or Earnings Management?Evidence from China's Stock Market

作　　者：邱月华[1] 曲晓辉[2] 

机构地区：[1]集美大学工商管理学院 [2]厦门大学会计发展研究中心

出　　处：《中国会计评论》2009年第4期371-382,共12页China Accounting Review

基　　金：国家自然科学基金资助项目(70972113);教育部人文社会科学重点研究基地重大项目(08JJD630010);集美大学科研基金项目(C60822)的阶段性研究成果

摘　　要：本文考察2002—2005年上市公司会计盈余所具有的稳健性特征究竟是代表较高盈余质量的真正的盈余稳健性,还是可能只是向下盈余管理行为所带来的盈余稳健性的表象。研究发现,由于受洗大澡的盈余管理行为噪音的影响,2002—2005年上市公司总体表现出的盈余稳健性特征并不是代表较高盈余质量的真正的盈余稳健性,而可能主要是"洗大澡"盈余管理行为所带来的盈余稳健性的表象。本文的研究结论表明,在我国ST制度等特殊的制度背景下,上市公司向下盈余管理行为将影响对上市公司盈余稳健性结果的测定,单纯以盈余稳健性的强弱作为衡量上市公司盈余质量高低的标准未必可行。Using a sample of all listed A-shares firms in Shanghai and Shenzhen Stock Exchanges during the period of 2002--2005 with available data, this paper examines whether the improved earnings conservatism is really earnings conservatism that can proxy for high quality earning or just a seeming conservatism which results from the big bath behavior of the listed firms. We find that the displayed earnings conservatism of listed firms during the period of 2002--2005 can＇t proxy for high quality earnings because the test result of earnings conser- vatism is easily affected by big bath earnings management. This empirical evidence has shown that the test on earnings conservatism is greatly affected by earnings management of the listed firms under the special institutional background of securities regulations in China. So it＇s not feasible to judge the earnings quality of listed firms only simply based on the test result of earnings conservatism.

关 键 词：盈余稳健性 盈余管理 ST制度 “洗大澡” 

分 类 号：F275[经济管理—企业管理]