【作者】 张帆；

【导师】 吴文莉；

【作者基本信息】 华中科技大学 ， 会计， 2020， 硕士

【摘要】 盈余管理在国内外学术界有着广泛的研究,ST公司通过盈余管理摘帽的现象也是屡见不鲜。本文通过选取东方钽业通过盈余管理摘帽的案例,详细地说明了盈余管理的定义、动机、手段,负面影响以及相应的建议。ST上市公司由于有着巨大的保市压力,往往有着强烈的盈余管理动机,企图通过粉饰报表短期内快速提高公司净利润,最终达到摘帽的目的。本文选取的ST上市公司为东方钽业,具体罗列了其盈余管理的具体手段,并给出了相应的事实依据。在测量东方钽业应计盈余管理程度时,本文选取的是修正的琼斯模型,以更加直观的数据呈现出东方钽业盈余管理的程度,并列出其盈余管理水平在同行业的排名。东方钽业通过盈余管理暂时性增加了净利润,然而其经营并未得到有效的改善,这一点从它摘帽后一年的经营业绩可以看出,其净利润由正转负。为了实现扭亏为盈的短期目标,东方钽业大致采用了四种手段,分别为:利用资产重组、通过费用操纵、通过资产减值准备、存货跌价准备的计提和转回。相应的会给公司长期发展,投资者的收益,以及经济社会发展造成伤害。盈余管理的现象在上市公司中比较常见,尤以ST上市公司为多,但事实是这对金融市场的健康发展无疑是一种伤害,扰乱正常的金融秩序,并且使得投资者失去信心。错误的财务信息,会引导经济资源通往低盈利的公司,不利于金融资源的配置,降低金融效率。根本解决ST公司通过盈余管理摘帽的乱象需要监管部门完善相应的退市制度,加大对盈余管理滥用的惩处力度,才能有效保障金融体系的良好运转。更多还原

【Abstract】 Earnings management has been widely studied in academic circles in the world,and it is common for ST companies to take off their hats through earnings management.In this paper,the definition,motivation,means,negative effects and corresponding suggestions of earnings management are explained in detail by selecting the case of Dongfang tantalum company.ST listed companies,because of the huge pressure to protect the market,often have a strong motivation for earnings management,trying to improve the net profit of the company quickly in the short term by whitewashing the statements,and finally achieve the purpose of taking off the hat.This paper selects the ST listed company as Dongfang tantalum industry,and lists the specific means of earnings management,and gives the corresponding factual basis.In the measurement of the degree of earnings management accruals,this paper selects the modified Jones model to show the degree of earnings management of the company with more intuitive data.Dongfang tantalum industry has temporarily increased its net profit through earnings management,but its operation has not been effectively improved.This can be seen from the operating performance of the year after it took off its hat that its net profit has changed from positive to negative.In order to achieve the short-term goal of turning losses into profits,Dongfang tantalum industry has roughly adopted four means,namely,the use of asset restructuring,cost manipulation,the provision for asset impairment,and the withdrawal and reversal of inventory falling price reserves.Accordingly,it will harm the long-term development of the company,the return of investors,and the healthy development of the financial marke.Earnings management is a common phenomenon in listed companies,especially ST listed companies.But the fact is that it is undoubtedly a harm to the healthy development of the financial market,disrupting the normal financial order and making investors lose confidence.Wrong financial information will lead economic resources to low profit companies,which is not conducive to the allocation of financial resources and reduce financial efficiency.In order to solve the problem of ST company taking off the hat through earnings management,it is necessary for the regulatory authorities to improve the corresponding delisting system and increase the punishment for the abuse of earnings management,so as to effectively guarantee the good operation of the financial system.更多还原