Earnings disaggregation and analysts＇ forecasts

Accounting concepts dictate that separately disclosed components should contain separate useful information. This paper examines the relations between income statement components and analysts＇ earnings forecasts and forecast errors. Regressions explaining earnings forecasts using earnings components provide a better fit than regression using just aggregate income to explain forecasts. We interpret this as consistent with the hypothesis that analysts use incremental information in components not available in aggregate income. However, additional tests based on predictability of forecast errors indicate that analysts do not incorporate all information available in components into earnings forecasts. In addition, this inefficiency appears to increase at longer forecast horizons.     

Benefit of Employees and Motivation for Earnings Manipulation—— A Case Study of Employee Shares

The employee shares of Guilin Jiqi became tradable in stock exchanges from June 2000. The firm coincidently made up her profit disclosed in the semi-annual report. After ruling out other explanations, we find that the fraud of Guilin Jiqi seems to be intended to help her employees （not including top managers） to reap profits at the expense of misled investors. Our findings offer a potential insight into relating employee shares to insider selling.     

从会计处理和定义看利得—对《企业会计准则—收入指出》的一点认识

《企业会计准则－收入指南》（以下简称《准则指南》对收入与利得都给出了定义及举例：“企业在会计期间内增加的除有所投资以外的经济利益通常称为收益,收益包括收入和利得。收入是指企业在销售商品、提供劳务及他人使用本企业资产等日常活动中所形成的经济利益的总流入,日常活动是指企业为完成其经营目标而从事的所有活动,以及与之相关的其他活动。利得是指收入以外的其他收益,通常从发的经济业务中取得,属于那种不经过经营过程步能取得或不曾期望获得的收益,如企业接受捐赠或政府补助取得的资产、因其他企业违约收取的罚款、处理固定资产净损益、流动资产价值的变动等。”从利得的定义看,与营业外收入（营业外收支净额）较为相近（营业外收入是指与企业生产经营活动没有直接关系的各种收入）,从其举例看,可能涉及所有权益、递延税款、营业外收入（支出）,还可能涉及某些费用,它们是否全都可以计入利得呢？     

Reexamining the Explanatory Power of Earnings Number

Much effort has been dedicated to the topic of earnings usefulness to investment decisions. The low explanatory power of earnings number on the stock returns urges researchers to further investigate the theoretical and technical aspects of the model. This paper treats the econometrical issues of the topic. We try to allow heteroscedasticity in the model. In addition, panel data method is used to estimate the model. The outcome is convincing and meaningful, suggesting the adoption of panel data method with heteroscedasticity greatly improves the fitness of the model.     

1—4月北京市城镇居民人均可支配收入同比增长8．6％

1—4月,北京市被调查的5000户城镇居民家庭人均可支配收入为9268元,同比增长8．6％。1—4月,人均家庭总收入中,人均工资性收入7214元,同比增长11．8％,其中,工资及补贴收入7020元,同比增长14．5％;人均经营净收入340元,同比增长53．8％;人均财产性收入176元,同比增长5．4％;人均转移性收入2829元,同比增长10．3％,其中,养老金或离退休金2345元,同比增长10．8％。     

Differentiating and Subdividing for Concept of Earnings Management

Through discriminating the concept of unreal accounting information and differentiating earnings management and profit manipulation, the paper ascertains the concept of earnings management by applying the theories of agent, game and information transfer etc., and then subdivides its content.     

Toward the Effect of Audit Quality on Earnings Management——Empirical Evidence from Manufacturing Enterprises Listed in Shanghai Stock Market

Nowadays, earnings management is a hot issue, but most of the researches focus on the incentives of earnings management and few of them refer to the effect of audit quality on earnings management. In this study, we directly examine the effect of external audit quality on earnings management by using discretionary accruals. We find that the discretionary accruals of non-dual audit companies are significantly greater than those of dual audit companies. We also find that clients of non-First Ten auditors intend to report greater discretionary accruals than those of First Ten auditors.     

Cash Flow from Operations, Accruals and Earnings Persistency

Persistency of earnings is an important measure of eamings quality. It is generally accepted that the more the persistency is, the higher the quality of earnings is. We analyze the characteristic factors influencing earnings persistency, use data of A-share listed companies during 1998-2004, and find that earnings persistency is significantly related to the nature of earnings, the cash content of earnings and the quality of accruals.     

我国城乡居民收入差距的回归分析分析:1985—2013

缩小城乡收入差距是我国经济发展中需要解决的重要问题,本文根据1985-2013年的数据,运用回归分析指标从四项收入来源分析了城乡居民收入差距的原因,论述了今后的发展趋势,提出应采取加强对农村劳动力培训,提高劳动力的整体素质;加快城乡二元制度改革,建立社会保障体系;加快城镇化进程,提高农民工资性收入等对策来缩小城乡居民收入差距。     

阿里巴巴—员工一半收入来自价值观

员工即便业绩十分优秀，如果所作所为不符合企业的核心价值观，不仅拿不到奖金，还有可能被辞退。     

收入分配差距透视—以葫芦岛市为例

收入分配与人民群众的切身利益息息相关。现阶段社会分配领域中收入差距的扩大已成了一个值得注意的问题。收入差距有合理与不合理、合法不合法、适度与不适度之分。正确认识现阶段的收入分配差距，有效调控收入分配差距，是直接关系到能否保持国民经济持续快速健康发展，实现共同富裕的重大战略问题。     

Quality of Provisions for Bad Debts and Earnings Information Contents

We measure the quality of provisions for bad debts, based on both the cross-sectional and time-series basis. Empirical tests show the impacts on earnings information contents, as well as on the incremental information content of cash flows.     

Capitalizing Research & Development: Signaling or Earnings Management?

This paper analyzes the capitalization of Research & Development (R&D) expenditures under International Financial Reporting Standards (IFRS). Discretionary R&D capitalization can be exercised by managers to signal private information on future economic benefits to the market. It can, however, also serve as opportunistic earnings management. We analyze a unique, hand-collected sample of highly R&D intensive German IFRS firms during 1998–2012. We find that market values are not associated with capitalized R&D for the overall sample, indicating that earnings management may be a concern. We identify firm-years for which R&D capitalization is possibly used for pushing their earnings above a specific threshold (e.g. analysts' forecasted earnings, prior year's earnings). Our results show that both the decision to capitalize and how much to capitalize are strongly associated with benchmark beating. Consistently, we find that market values are negatively associated with capitalized R&D for firms who are likely to use capitalization for benchmark beating (about one third of the overall sample). On the other hand, the market values R&D capitalization positively for well-performing firms, for which capitalizing does not matter to beat an earnings benchmark (about half of the overall sample). This finding is robust to controls for endogeneity, various deflators, and different measures for earnings management.     

新旧《企业会计准则—收入》的对比研究

财政部于１９９８年６月２０日发布了《企业会计准则——收入》（以下简称“新准则”），并决定从１９９９年１月１日起在上市公司中执行。与原《企业会计准则》（以下简称“原准则”）相比，新准则在很多方面有所不同，具体表现在：一、关于收入的定义１９９２年颁布的原准则将收入定义为“企业在销售商品或提供劳务等经营业务中实现的营业收入”（原准则第４４条）。新准则则定义为“企业在销售商品、提供劳务及他人使用本企业资产等日常活动中形成的经济利益的总流入”（新准则第４条）。两种定义相比至少有如下三方面的区别：１对派生…     

Does Dividend Policy Affect Earnings Management?Evidence From France

The objective of this paper is to examine the impact of the dividend policy on earnings management in France.Note that in recent years,research on the determinants of earnings management has multiplied.However,little work has really looked into this issue.The empirical research is based on a sample made up of French companies listed on the CAC All Tradable index for the period 2008-2015.The empirical results show that the dividend policy is a determinant of earnings management in the French context.     

The Role of Overbilling in Hospitals’ Earnings Management Decisions

Abstract

This paper examines the role of overbilling in hospitals’ earnings management choices. Overbilling by hospitals is a form of revenue manipulation that involves misclassifying a patient into a diagnosis-related group that yields higher reimbursement. As overbilling allows hospitals to increase revenues without altering operations, affecting costs, or having to reverse such behavior in the future, I propose and find that overbilling reduces hospitals’ use of managing accruals or cutting discretionary expenditures. Next, I find that hospital managers prefer overbilling to managing accruals (cutting discretionary expenditures) when cutting discretionary expenditures (managing accruals) is constrained, and vice versa. Collectively, my findings suggest that overbilling is an important alternative manipulation tool in hospitals.     

中国居民幸福—收入门限研究

基于对幸福-收入悖论的各种解释,尤其是在Clark et al (2008)的框架下,引入相对收入变量,并结合两个实验经济学结论,我们推知幸福-收入门限是存在的。使用CGSS2006年的微观数据,本文估计中国居民的幸福-收入门限值大致位于“人均收入”3300元的位置,收入对幸福感的影响从门限前显著正向变为门限后的不显著。门限回归中,收入和相对社会经济地位变量呈现“前高后低”特征,而其他控制变量的系数结果在门限前后通常也呈现差异性的特征,由门限值划分的不同群体的幸福感对变量的敏感度不同。对于从中等收入跨向中上等收入水平的转型国家来讲,提升居民的幸福感,需要更加关注非收入的因素,尤其是人们越来越关注的自身权利、平等和公平等软因素,这些因素的满足依赖于公平发展方向上的体制改进。     

对《企业会计准则—收入指南》的一点意见

《企业会计准则———收入指南》（以下简称《准则指南》）从《准则》的基本要求、涉及范围、定义阐述及各个具体业务解说和实务举例等方面对《准则》内容进行了较全面而详尽的论述，是广大财会人员正确理解与运用《准则》的必备工具。但是，笔者认为，在《准则指南》中有...     

《企业会计准则第14号—收入》解读

为了规范收入的确认，计量和相关信息的披露，财政部根据《企业会计准则一基本准则》，制定了《企业会计准则第14号一收入》。该准则于2006年2月15日公布，自2007年1月1日起实施。本文对该准则进行必要的解读。