【作者】 张小莉；

【导师】 李嘉明；

【作者基本信息】 重庆大学 ， 会计学， 2004， 硕士

【摘要】 上市公司的高层对公司的经营决策等方面起着举足轻重的作用,高层的稳定有利于上市公司的长期发展。但一直以来,上市公司的高层发生变动的频率相对比较高,在竞争激烈的市场环境下,发生高层变动的上市公司是否能真正改善经营业绩呢。本论文着重探讨了发生高层变动的上市公司在变动前后是否具有盈余管理行为以及上市公司进行盈余管理的方向。首先本文从对盈余管理的相关理论入手,介绍了盈余管理的含义,盈余管理的特征,会计收益与经济收益理论的差异以及会计盈余的功能和作用。在对理论回顾的基础上,本文还引出了盈余管理的动机和手段,并分别介绍了进行盈余管理的各种动机以及上市公司进行盈余管理常用的一些手段,为盈余管理的计量提供了现实基础。在盈余管理的计量上,着重介绍了Jones模型,因其是本文进行盈余管理计量的重要依据模型。在对高层变动的上市公司进行盈余管理的分析中,重点提出了几点依据使得高层有动机和机会进行盈余管理。在实证检验中,主要从两个方面来进行,其一是通过线下项目来检验,其二是通过操纵性应计利润来检验。综合运用了描述性统计和多元回归检验等统计方法,结合SPSS统计软件,并得出以下统计结论:(1)发生高层变动的上市公司会通过线下项目进行盈余管理,并且上市公司在变动前一年和变动后一年通过调高非常损益率来改善经营业绩,在变动当年并未如假设所说的那样会发生大冲销,相反上市公司仍然通过调高非常损益率来改善经营业绩。(2)发生高层变动的上市公司通过操纵性应计利润进行盈余管理的统计值比较显著,在变动前一年和变动当年主要通过负的操纵性应计利润进行,在变动后一年主要通过正的操纵性应计利润来调高业绩。(3)发生常规变动的上市公司与发生非常规变动的上市公司,在通过线下项目和操纵性应计利润进行的盈余管理幅度上并没有太大的差别。但从纵向来看,发生非常规变动的上市公司业绩改善的幅度大大高于发生常规变动的上市公司。(4)发生高层变动的上市公司经营业绩即净资产收益率有明显的变动,即变动当年的业绩要比变动前一年的业绩要差,变动后一年的业绩要比变动当年的业绩要好。更多还原

【Abstract】 Top managers in listed companies are effect in management and decisions with companies. the stabilization of top managers is in favor of the long development of listed companies. The frequency of top manages change is very high . Under the dog-eat-dog situation, the listed companies improve their achievement really. In this paper we discuss whether the listed companies improve the financial index through earnings management, and not through their main operation. Firstly, this paper tells some theory, such as the mean of earnings management , and the property of earnings management, the difference of accounting avenue and economics avenue ,and the function of accounting earnings. On the base of theory , this paper then tells some motivation and some ways of earnings management. The Jones model is the important tool to compute earnings management. In the analysis of earnings management , we trust there are some motivation and chances with earnings management. Under the test, this paper tests the factors of top managers change. The result improves that the change has relation to the index of achievement and the CEO ages. We test the top manager change and the earnings management through abnormal and extraordinary items and discretionary accruals. We draw some conclusions from this test: (1)the listed companies manage the earnings through the abnormal and extraordinary items and the last and before yeas they improve the achievement through increasing the abnormal and extraordinary items. (2) the statistic of listed companies with top manager change is significant with discretionary accruals ,the discretionary accruals is negative in the last year and before year, and the year in change is positive. (3) the difference of earnings management range is not significant with abnormal and extraordinary items and discretionary accruals. However, the range of achievements in the listed companies with non_routine change is larger than the companies with routine change. (4) the change is significant with the rate net asset avenue, namely, the achievement in the change year is worse than the before year, the achievement in last year is better than the change year.更多还原