Earnings Management of Chinese Listed Multinational Corporations  

作　　者：Xingyu Lu Tong Qi Wenjing Xie 

机构地区：[1]College of Business,Shanghai University of Finance and Economics,China [2]School of Economics and Management,East China Normal University,China [3]School of Economics and Finance,Shanghai International Studies University,China

出　　处：《China & World Economy》2023年第6期179-206,共28页中国与世界经济（英文版）

基　　金：the National Natural Science Foundation of China(Nos.72203061,72303157,and 72173082);the Ministry of Education Project of Key Research Institute of Humanities and Social Sciences at Universities in China(No.22JJD790011);the Fundamental Research Funds for the Central Universities(No.2021ECNU-HLYT033).

摘　　要：This study evaluates the quality of accounting information provided by Chinese multinational corporations(MNCs)in relation to the issue of earnings management.Using a combined dataset of outward foreign direct investment and financial statements by Chinese firms publicly listed on A-share markets between 2012 and 2017,we investigate whether Chinese MNCs are more inclined to manage earnings.We discover that these firms exhibited significant earnings management behavior and typically adjusted their earnings downward.We demonstrate that these effects were more pronounced among private MNCs than state-owned firms,and in host countries with weaker institutional quality.Further research reveals that after delaying the confirmation of current earnings,Chinese MNCs received higher government subsidies,and this pattern was particularly prevalent among private MNCs.We find no evidence that Chinese MNCs manipulated earnings to avoid paying taxes.

关 键 词：earnings management government subsidies multinational corporations outward foreign direct investment 

分 类 号：F832[经济管理—金融学]