【摘要】 从财务分析的角度,建立中国上市公司的盈余质量评价指标体系,探讨盈余质量对股票投资收益的解释,研究发现:盈余质量与未来股票收益具有显著的正相关性;盈余质量相对较好的上市公司具有较高的盈余反映系数。因此,盈余质量分析有利于投资者作出正确的投资决策。更多还原

【Abstract】 This paper constructs an index system to assess earnings quality of China’s listed companies from the perspective of financial statement analysis, and examines whether earnings quality can explain the stock returns. The findings of this study are as follows: earnings quality are significantly and positively associated with future stock returns; higher earnings quality imply higher earnings response coefficients. In conclusion, earnings quality analysis is useful to investors making proper decision.更多还原