上市公司盈余管理及其度量的实证研究——基于沪深A股钢铁板块的经验数据

盈余管理理论是20世纪80年代以来在国际经济学和会计学界兴起的前沿性研究课题，盈余管理度量是其核心理论问题。结合我国沪深两市钢铁板块上市公司2006—2008年的财务数据进行实证分析，结果表明中国沪深两市钢铁板块上市公司存在严重的盈余管理行为，其手段主要有调整非经常性损益、调整存货和固定资产的初始入账价值、调减现销收入等。所以，监管部门应该密切关注钢铁板块，对其采用的主要盈余管理手段重点审查，以稳定资本市场、保护投资者、提高资本市场的资源配置效率。

Empirical research on earnings management and measurement of listed company: based on data of steel stocks of A stock exchanges of Shanghai and Shenzhen

Earnings management theory is a frontier research topic in the fields of international economics and accounting since 1980s,in which the measurement of earnings management is the core theoretical issue.Empirical analysis is accomplished based on the financial data of listed companies of steel stocks of A stock exchanges of Shanghai and Shenzhen from 2006 to 2008,which concludes that severe earnings management behaviors exist in listed companies of steel stocks.Their main means include adjusting non-operational gains and losses,adjusting the initial value of stocks and fixed assets,and reducing the sales income,etc.Hence,the supervision agencies should keep a close eye on steel stocks,and focus on the supervision of the main means of their earnings management,so as to keep the assets market steady,protect the investors and improve the resource allocation efficiency of capital market.