真实盈余管理经济后果研究——基于中国资本市场的经验证据  

Economic Consequences of Real Earnings Management

作　　者：许慧[1] 林芳[2] 

机构地区：[1]广东工业大学管理学院,广东广州510520 [2]中南财经政法大学会计学院,湖北武汉430223

出　　处：《财会通讯（下）》2013年第7期61-64,共4页Communication of Finance and Accounting

基　　金：国家自然科学基金资助项目(项目编号:70872110);广东工业大学博士启动基金项目(项目编号:113016)阶段性成果

摘　　要：本文对真实盈余管理的经济后果实证检验,发现我国上市公司进行真实盈余管理活动会同时导致其后期会计业绩与现金流业绩"滑坡",且现金流业绩"滑坡"的期限要长于会计业绩的期限,表明真实盈余管理对现金流的影响更为深远。异常现金流对会计业绩与现金流业绩的影响最为显著,异常生产成本和异常费用对会计业绩的影响不显著,但对现金流业绩的影响显著。研究结论不仅丰富了真实盈余管理的研究文献,也为提高会计信息质量和完善资本市场监管提供了经验证据。This paper takes an empirical test about the economic consequences of real earnings management, and finds that China’s listed companieswhich engaged in real earnings management activities will lead to both the later periods of the accounting performance and cash flow performance decline,while the period of decline of cash flow performance is longer than the period of accounting performance, which indicates the real earnings management affectscash flow more deeply. Specifically, the impact of abnormal cash flow on the accounting performance and cash flow performance is the most significant,abnormal production costs and abnormal expenses does not significantly affect the accounting performance, but the cash flow performance significantly affectedthe cash flow performance. The findings of this paper not only enrich the real earnings management literature, but also improve the quality of accountinginformation and provide empirical evidence to perfect capital market regulation.

关 键 词：真实盈余管理 应计盈余管理 业绩滑坡 经济后果 

分 类 号：F275[经济管理—企业管理] F224[经济管理—国民经济]