中国证券市场年报补丁公司特征研究

在上市公司午报披露之后，屡屡可见公司对年报的各类补充公告与更正公告（即年报补丁），年报朴丁不仅受到媒体的强烈抨击，也为监管部门所关注。本文选取发布2001～2003年年报补丁的公司作为研究样本，并分年度、行业、公司规模选取配对样本，考察补丁公司的经济特征，研究表明，相对配对样本而言，补丁公司的业绩较差，公目的总资产增长较快，较少设置审计委员会，且审计质量较差。

On Restatements on China Corporate Annual Reports

Repeated restatements on corporate annual reports are a common phenomenon in China stock market, which is strongly criticized by the media and poses great concern to regulators. This paper takes companies rot comparison and looks into their characteristics based on time, industry and corporate size. Studies reveal that companies with restatement in corporate reports tend In record unsatisfactory earnings, rapid asset growth, fewer cases of auditory committee and poor audit quality.