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浅谈影响企业盈余质量的因素及分析方法 总被引:1,自引:0,他引:1
<正>盈余质量指企业盈余的优劣程度。我国企业报告的盈余,是会计人员根据会计准则和制度的规定,对企业在一定会计期间开展的各种经营业务进行确认、计量的结果。部分企业为了获取信贷资金、商业信用、公司上市、保持配股资格、偷漏税等原因,会粉饰会计报表,调节盈余,因此,如何分析和识别企业的盈余质量的优劣程度,是投资者、债权人以及政府部门等广大会计信 相似文献
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盈余质量是指企业盈余的优劣程度。我国企业报告的盈余,是会计人员根据会计准则和制度的规定,对企业在一定会计期间开展的各种经营业务进行确认、计量的结果。部分企业为了获取信贷资金、商业信用、公司上市、保持配股资格、偷漏税等原因,会粉饰会计报表,调节盈余、因此,如何分析和识别企业的盈余质量的优劣程度,是投资者、债权人以及政府部门等广大会计信息使用者所关心的问题。 相似文献
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盈余质量指企业盈余的优劣程度。我国企业报告的盈余,是会计人员根据会计准则和制度的规定,对企业在一定会计期间开展的各种经营业务进行确认、计量的结果。本文先对盈余可持续性进行理论分析,包括盈余可持续性的概念、分类、意义和衡量指标,然后选用四个指标进行盈余可持续性的分析,得出ST公司盈余持续性普遍较差的结论并简单分析原因,最后给出如何保持公司盈余持续性的建议。 相似文献
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随着资本市场的不断完善和发展,上市公司数量的不断增加,我国上市公司盈余质量的研究也逐渐进入大家的研究视角。盈余质量是衡量企业盈余的优劣程度,它直接影响债权人和投资者作出决策,也直接影响投资收益和公司价值,对上市公司的质量评价有着重要的意义,而会计盈余之所以重要就在于其价值相关性。以2007年至2012年度沪、深两市A股上市公司为研究对象进行实证分析,在最基本的简单盈余资本化模型基础上,进一步探讨了会计盈余的价值相关性。研究结果表明,上市公司的每股收益对年末股价有显著的解释能力,这一结果支持了相关的结论。 相似文献
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近年来,随着我国上市监管制度的日益完善和审计质量的提高,应计盈余管理被揭露的风险越来越大,真实盈余管理以其不易被察觉的优势逐渐成为上市公司利润管理的新的手段。本文试图从所有权安排的角度来研究企业真实的盈余管理。研究发现,国家控股的企业与真实盈余管理的程度负相关,管理层持股与真实盈余管理程度正相关。研究还发现,第一大股东的持股比例与真实盈余管理程度呈现正U型关系。 相似文献
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盈余信息的决策有用性不仅受到盈余信息本身的影响,而且受到决策环境的制约.本文将盈余信息纳入到企业的融资环境,研究债券融资及其承销行为对企业信息披露政策的影响.采用我国沪深A股市场的债券融资数据,实证研究发现:一方面,上市企业在债券发行中存在着强烈的盈余操纵动机,表现为债券融资增量越高的企业,其盈余质量越差;另一方面,债券具有一定程度的监督作用,债券融资存量越高的企业,其盈余质量越好.进一步研究发现,发债企业与主承销商建立的关系型承销行为能够降低债券发行中的盈余操纵动机,并在一定程度上提升债券的监督作用. 相似文献
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Denis Cormier Dominique Dufour Philippe Luu Pierre Teller Robert Teller 《Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l\u0027Administration》2019,36(1):113-127
The aim of this paper is to investigate the relevance for stock market pricing of accounting earnings of voluntary disclosures in XBRL files considering the quality of corporate governance. Results are the following. It appears that XBRL extensions attract financial analysts. Good governance is positively associated with voluntary XBRL extensions. We observe that XBRL extensions enhance the positive relationship between accounting earnings and stock price. However, this positive association is reduced for firms with good governance, suggesting a substitution effect between XBRL extensions and corporate governance. Finally, it appears that XBRL extensions would strategically be related to earnings quality. This research highlights the importance to consider governance when assessing the value relevance of XBRL disclosures for stock market pricing. 相似文献
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Huacheng Wang Feng Cao Xiangqiang Liu Sifei Li 《Frontiers of Business Research in China》2015,9(1):30
This study investigates whether accounting earnings can predict future Gross Domestic Product (GDP) growth within China’s institutional settings. Konchitchki and Patatoukas (2014a) find that accounting earnings is a significant leading indicator of GDP growth for the next three or four quarters. We conjecture, however, that earnings management would weaken such predictive power for accounting earnings because it distorts earnings from real corporate profit. As earnings of Chinese firms are more seriously manipulated than those of US firms, this study finds that earnings of Chinese listed firms can only predict GDP growth for a single quarter. We further decompose accounting earnings into operating cash flow and accrual earnings and find that operating cash flow which is less affected by earnings management has better predictive power for GDP over the longer horizon of the next three quarters, but accrual earnings can only predict GDP growth for the next quarter. 相似文献
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Strategic alliances are well-established organizational forms and a means of strategy implementation. Despite their growing pervasiveness in the economy, existent literature provides few insights about earnings quality of strategic alliances. This challenge is especially severe in contractual alliances (CAs), where firms do not form a new corporate entity that is separate from the parent organization in comparison to joint ventures (JVs). We investigate how earnings attributes differ depending on involvement in strategic alliances of 8137 CAs and 3026 JVs spanning 1997–2007. We find, in particular, that earnings attributes of firms involved in contractual alliances are broadly reflective of low underlying accounting quality. Relative to JV firms and non-alliance (NA) firms, they have higher levels of discretionary accruals, lower accrual quality, and earnings that are less persistent, less smooth, less relevant, less timely, and less conservative. They also have lower earnings response coefficients. 相似文献
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近年来,上市公司管理层通过盈余管理粉饰公司业绩,误导投资者决策的行为受到社会广泛的关注。通过对盈余管理动机的深层研究。对于上市公司盈余管理行为的监管与控制应该双管齐下。既要通过完善相关会计法规减少上市公司盈余管理可以选择的手段,又要完善中国上市公司的公司治理结构,增强对少数股东的利益保护机静】,从根本上抑制上市公司盈余管理的动机,使得公司的财务报告反映公司的真实业绩,促进中国资本市场的繁荣发展。 相似文献
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This article proposes and empirically tests a theoretical framework incorporating Reidenbach and Robin’s (J Bus Ethics 10(4):273–284,
1991) conceptual model of corporate moral development. The framework is used to examine the relation between governance and business
ethics, as proxied by diversity management (DM), and financial reporting quality, as proxied by the magnitude of earnings
management (EM). The level of DM and governance quality are measured in accordance with the ratings of Jantzi Research (JR),
a leading provider of social and governance research for institutional investors. This DM score is part of an index developed
by JR that investment managers use to integrate DM criteria into their investment decisions. As expected, a negative relation
between corporate DM development and financial reporting quality is found while controlling for other factors known in the
literatures on governance and accounting choices to affect earnings quality. Despite some caveats presented in conclusion,
this study contributes to the ethics, governance, and financial reporting literatures by studying the dynamics between governance
and ethics in the prevention of EM. 相似文献
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盈余管理是企业管理层在会计准则、法规及制度许可的范围内以获取私人利益为最终目的,企业通过会计估计的变更、政策的选择和对未来交易的计划等手段控制调节企业的盈余,从而实现会计报表数据达到预期的效果。在治理中小企业盈余管理的行为时,应完善中小企业的公司治理结构,提高会计人员的理论水平和职业道德教育,加强外部监督和加大监管力度,提高会计信息的可靠性。 相似文献
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公司治理因素对企业操控性应计项目的影响——从企业契约观和信号假说出发 总被引:2,自引:0,他引:2
管理者通过会计政策选择对盈余产生影响,对这一现象存在不同的理论解释。本文结合企业契约方对会计政策选择的要求权和管理者对外传递私人信息的需要,研究盈余的操控性应计部分产生的驱动因素,发现盈余的操控性应计部分和公司治理因素存在显著的相关性;上市公司的控制人不同,操控性应计的影响因素及其影响程度也有所不同。 相似文献
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Based on a sample of banking firms listed on the Taiwan Stock Exchange, we examine the impact of corporate governance and media coverage on the market reaction to unexpected earnings announcements. This study finds that positive media reports prior to bad earnings announcements have a positive short-term impact on the market's response to unexpected negative earnings, but the impact is reversed in the long term. In contrast, a better corporate governance quality has a persistent positive impact on market's reaction to unexpected negative earnings, especially when the quality of corporate governance is measured by pledge ratios. The study finding provides one central implication for managements: Yes, being good would pay off. 相似文献
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This study investigates the impact of internal corporate governance on the relation between disclosure quality and earnings management in the UK listed companies, in particular whether governance mechanisms have deterrent effect on earnings management similar to firms’ disclosure quality. Unlike prior literature, we measure a number of board and audit committee-related governance instruments, three disclosure quality proxies (i.e. Investor Relation Magazine Award, Forward-Looking Disclosure and Analyst Forecast Accuracy) and the Modified Jones Model to test the hypotheses of the study on a matched-pair sample data of Investor Relation Magazine Award winning and non-winning firms. Our findings in the OLS and sensitivity analyses using Heckman Procedure and 2SLS regressions consistently report a significant negative association between earnings management and disclosure quality for all proxies in restraining earnings management. In contrast, corporate governance variables are mostly insignificantly related to earnings management. This provides an emerging trend of the outperformance of disclosure quality over internal governance mechanisms in lessening earnings management. These findings warrant due attention of the policy makers, investors, corporate firms and other stakeholders in shaping a high-quality disclosure and governance regime in corporate settings to mitigate managerial manipulations of earnings across the countries in the world. 相似文献