债务重组准则变更、盈余管理与政府监管

文章研究了债务重组准则变更及监管者行为对上市公司盈余管理的影响。研究发现:上市公司债务重组收益并非主要发生在财务困难的公司;新准则实施后,上市公司确认债务重组收益的可能性和金额显著提高;不仅扭亏是利用债务重组收益的动机,避免亏损和业绩下滑也是上市公司利用重组收益的重要动机;针对证监会要求由控股股东豁免或代为清偿产生的重组收益计入权益的监管,上市公司采用控股股东子公司对本公司子公司代偿等重组方式。

Change in Accounting Standard on Debt Restructuring,Earnings Management and Government Regulation

This paper discusses the effects of change of debt restructuring standard and government regulation on earnings management of listed companies in China.The authors find evidence that many restructuring companies are not in financial distress.The earnings from debt restructuring unusually increased after changes of accounting standards.The authors also provide evidence on companies' motivations to manage earnings to achieve certain earnings thresholds,such as turnaround,avoidance of earnings losses and incre...