应计盈余管理动机、方向与公司未来业绩——来自沪市A股经验证据  

Accrual Earnings Management Motivation,Direction and Corporate Future Performance:Based on the Empirical Evidence of Shanghai A-shares

作　　者：许文静[1] 王君彩[2] 

机构地区：[1]中国石油大学(北京)工商管理学院 [2]中央财经大学会计学院

出　　处：《中央财经大学学报》2018年第1期68-76,共9页Journal of Central University of Finance & Economics

基　　金：中国石油大学(北京)科研基金"退市制度变革;盈余持续性与市场定价行为研究"(项目编号:2462015YQ0702)

摘　　要：基于非特定经济业务的大样本数据,区分不同动机和方向的应计盈余管理,实证检验了盈余管理行为对公司未来经营业绩影响差异。研究结果表明,由于后续应计反转的时间、速度及反转目的不同,不同动机和方向的应计盈余管理对公司未来经营业绩产生了不同影响。为实现扭亏、达到上市条件或股权再融资门槛而实施的正向应计盈余管理,显著降低了公司未来的经营业绩;为平滑收益而实施的负向应计盈余管理,对公司未来经营业绩没有产生显著影响。笔者的研究结论为进一步拓展应计盈余管理经济后果方面的研究提供了新的视角。Based on non-specific economic business large sample data, distinguishing the accrued earn- ings management different motivations and directions, This paper examines the earnings management behavior impact on the company＇s future operating performance. The research result shows different motivations and di- rections of accrual earnings management have different effect on the company＇s future performance due to the different inversion time, speed and purpose of subsequent accrued inversion. The positive accrued earnings management based on the reverse loss, IPO or equity refinancing have a significant negative impact on＇ the company＇s future performance; Negative earnings management based on the earnings smoothing does not have a significant impact on the company＇s future operating results. This paper provides a new perspective for the fur- ther research on the economic consequences of accruals management.

关 键 词：应计盈余管理 动机 方向 未来业绩 

分 类 号：F275.4[经济管理—企业管理]