| 市场监管、盈余分布变化与盈余管理——退市监管与再融资监管的比较分析 |
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| 引用本文： | 肖成民,吕长江.市场监管、盈余分布变化与盈余管理——退市监管与再融资监管的比较分析[J].南开管理评论,2011,14(1). |
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| 作者姓名： | 肖成民 吕长江 |
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| 作者单位： | 1. 上海立信会计学院会计与财务学院
2. 复旦大学管理学院 |
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| 基金项目： | 国家自然科学基金，教育部人文社科青年项目 |
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| 摘 要： | 通过考察第四季度引起的盈余相关指标分布变化,本文比较分析了上市公司针对退市监管和再融资监管采取的盈余管理行为.实证结果表明,相对于基于"相对指标"的再融资监管,上市公司规避基于"绝时指标"退市监管更容易提前操作;相对于"收益性"的再融资监管,上市公司规避"损失性"退市监管的动机更强.本文发现,不论针对哪一种市场监管,前三个季度的盈余相关指标比较接近监管阈值的公司实施了盈余管理行为.
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| 关 键 词： | 退市监管 再融资监管 盈余分布 盈余管理 |
Market Regulation,Earnings Distribution Change and Earnings Management:A Comparative Analysis of ST and SEO Regulation |
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| Xiao Chengmin,Lü Changjiang.Market Regulation,Earnings Distribution Change and Earnings Management:A Comparative Analysis of ST and SEO Regulation[J].Nankai Business Review,2011,14(1). |
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| Authors: | Xiao Chengmin Lü Changjiang |
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| Institution: | Xiao Chengmin1,Lü Changjiang21.School of Accounting and Finance,Shanghai Lixin University of Commerce,2.School of Management,Fudan University |
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| Abstract: | As a transitional economy,China puts strong regulation in her stock market and companies mainly react to these regula-tions with earnings management.In this paper,we test the different effect on earnings management of two dominate regulations: ST regulation and SEO regulation.We think these two regulations are different at least in the following two dimensions: ST regulation fo-cuses on punishing bad performance,while SEO regulation focuses on rewarding good performance;ST regulation is mainly based on abso... |
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| Keywords: | ST Regulation SEO Regulation Earnings Distribu-tion Earnings Management |
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