本文選題：非經(jīng)性損益 + 信息含量��； 參考：《西南財(cái)經(jīng)大學(xué)》2012年碩士論文

【摘要】：會(huì)計(jì)盈余信息是財(cái)務(wù)報(bào)表公布的核心信息之一而被眾多學(xué)者所關(guān)注,其中非經(jīng)常性損益信息作為上市公司操縱盈余信息的一種主要途徑更是成為廣大研究者關(guān)注的焦點(diǎn)。中國(guó)證監(jiān)會(huì)于1999年首次頒布了非經(jīng)常性損益信息披露的相關(guān)規(guī)定,自此之后,中國(guó)證監(jiān)會(huì)又分別于2001年、2004年、2007年、2008年四次對(duì)非經(jīng)常性損益的披露與規(guī)范做出了修訂。在2008年出臺(tái)的有最新修訂中規(guī)定,上市公司在編制公司定期報(bào)告、撰寫股票發(fā)行的申報(bào)材料及招股說明書時(shí),必須對(duì)非經(jīng)常性損益的具體項(xiàng)目、發(fā)生金額以及相關(guān)的財(cái)務(wù)指標(biāo)等做出充分披露。 為了促使股票價(jià)格朝著有利于公司自身的方向發(fā)展,上市公司在披露“扣除非經(jīng)常性損益后凈利潤(rùn)”這一指標(biāo)時(shí)可能存在操縱的嫌疑。在我國(guó)證券市場(chǎng)上衡量上市公司對(duì)非經(jīng)常性損益信息進(jìn)行強(qiáng)制披露這一舉措的利與弊,最終還是要依據(jù)非經(jīng)常性損益信息的披露能否為廣大投資者的決策提供真實(shí)有效的信息。十余年來,非經(jīng)常性損益披露制度的執(zhí)行情況是否和預(yù)期一致,扣除非經(jīng)常性損益后的盈余信息是否更具有價(jià)值相關(guān)性?非經(jīng)常性損益信息是否更易于作為盈余管理的手段?管理者更傾向于采用非經(jīng)常損益中的哪些具體項(xiàng)目進(jìn)行盈余管理? 具體而言本文分為六個(gè)部分： 第一部分為導(dǎo)論,首先分析本文的研究背景,接著進(jìn)一步闡述了本文的兩個(gè)研究意義,同時(shí)介紹了論文的結(jié)構(gòu)安排,以及本研究在理論和實(shí)踐上可能的創(chuàng)新與不足。 第二部分為文獻(xiàn)綜述,總結(jié)回顧了國(guó)內(nèi)外對(duì)于非經(jīng)常性損益信息的界定、披露以及對(duì)非經(jīng)常性損益信息含量和價(jià)值相關(guān)性的規(guī)范研究以及實(shí)證研究,對(duì)比分析了國(guó)內(nèi)外在非經(jīng)常性損益研究領(lǐng)域的差異,找到本文的切入點(diǎn),同時(shí)為下文提出理論支撐做好鋪墊。 第三部分為相關(guān)理論概述,首先討論非經(jīng)常性損益概念的界定,然后闡述會(huì)計(jì)盈余信息含量研究的決策有用性理論與市場(chǎng)有效理論,最后介紹會(huì)計(jì)盈余信息含量的研究維度和會(huì)計(jì)盈余信息的價(jià)值相關(guān)性。 第四部分為現(xiàn)狀與影響分析,詳細(xì)分析了非經(jīng)常性損益在我國(guó)上市公司中的披露現(xiàn)狀,并針對(duì)非經(jīng)常性損益披露存在的一些主要問題以及非經(jīng)常性損益具體項(xiàng)目對(duì)披露情況的影響進(jìn)行深入分析。 第五部分為實(shí)證研究,根據(jù)相關(guān)理論和對(duì)非經(jīng)常性損益披露的現(xiàn)狀分析提出研究假設(shè),作出模型設(shè)計(jì),并對(duì)每股收益指標(biāo)的信息含量和扣除非經(jīng)常性損益后每股收益指標(biāo)的信息含量進(jìn)行相關(guān)性分析,以及對(duì)非經(jīng)常性損益的具體項(xiàng)目對(duì)管理層決策的影響和非經(jīng)常性損益的盈余管理性進(jìn)行了實(shí)證分析,最后得到本文的研究結(jié)論。 第六部分為政策建議,在本文的研究結(jié)論及相關(guān)理論分析的基礎(chǔ)上,結(jié)合我國(guó)國(guó)情,向相關(guān)監(jiān)管部門、會(huì)計(jì)準(zhǔn)則制定者以及廣大投資者就我國(guó)現(xiàn)有的非經(jīng)常性損益信息披露制度有針對(duì)性地提出政策建議。最后結(jié)合本研究過程中發(fā)現(xiàn)的問題和遇到的困難,分析本文存在的不足,提出未來研究可能的發(fā)展方向。 經(jīng)過綜合比較分析,本文得出以下結(jié)論：相對(duì)于寬口徑的凈利潤(rùn),扣除了非經(jīng)常性損益后的調(diào)整利潤(rùn)與公司價(jià)值的相關(guān)性更高；很難確定非經(jīng)常性損益在盈余管理中更有優(yōu)勢(shì)的具體項(xiàng)目,非經(jīng)常性損益是一種靈活的綜合性的盈余管理手段；相對(duì)于權(quán)責(zé)發(fā)生制的操作性應(yīng)計(jì)利潤(rùn)手段,非經(jīng)常性損益是更為重要的扭虧為盈的手段。 之前對(duì)此問題的研究并沒有將信息含量的變化作為研究的重點(diǎn),且研究的時(shí)間窗口期較短,收集的樣本數(shù)據(jù)也大多是2006年以前的,隨著2007年新會(huì)計(jì)準(zhǔn)則的實(shí)施,有關(guān)非經(jīng)常損益的披露出臺(tái)了新的規(guī)定,先前的研究并不能反應(yīng)新情況的變化。因此,本文將擴(kuò)大樣本范圍,選取新準(zhǔn)則實(shí)施以來近四年,即2007-2010年的樣本進(jìn)行較全面的實(shí)證檢驗(yàn),并分年度進(jìn)行具體項(xiàng)目的研究,更加深入的討論非經(jīng)常性損益對(duì)盈余管理的影響,全面分析非經(jīng)常性損益的披露效果,為改進(jìn)相關(guān)披露的政策提供經(jīng)驗(yàn)證據(jù)。 最后,本文的研究仍有一些局限和難以盡善之處。研究方法的不同以及研究模型選擇上的差異可能會(huì)導(dǎo)致研究結(jié)論的不同,文本對(duì)非經(jīng)常性損益信息含量?jī)r(jià)值相關(guān)性研究中只是基于計(jì)價(jià)觀下的實(shí)證研究而并沒有在信息觀和契約觀下采用回報(bào)模型等進(jìn)一步就非經(jīng)常性損益信息的價(jià)值相關(guān)性進(jìn)行實(shí)證研究。另外,在進(jìn)行實(shí)證檢驗(yàn)時(shí)對(duì)于盈余管理的界定上只局限在扭虧動(dòng)機(jī),并沒有綜合考慮利潤(rùn)平滑、“洗大澡”等情況,得出的結(jié)論可能會(huì)有樣本選擇偏差,可能成為影響說服力的潛在因素。
[Abstract]:The accounting earnings information is one of the core information of the financial statements and has been paid attention to by many scholars. The non recurrent profit and loss information, as a main way to manipulate the earnings information of the listed companies, has become the focus of the researchers. In 1999, the China Securities Regulatory Commission issued the related information disclosure of non recurrent profit and loss for the first time. Since then, the CSRC has made amendments to the disclosure and specification of non recurrent gains and losses in 2001, 2004, 2007 and 2008, respectively. In 2008, there is a latest revision in which the listed companies must make regular reports of the company, write the declaration materials and prospectus for the stock issue, and have to be non recurrent. The specific items of profit and loss, the amount incurred and related financial indicators are fully disclosed.
In order to promote the stock price to develop towards the direction of the company itself, the listed company may have the suspicion of manipulation when disclosing the "net profit after deducting the non recurrent profit and loss". In the stock market, the advantages and disadvantages of the strong disclosure of the information of the non recurrent profit and loss are measured by the listed companies in the stock market. Whether the disclosure of non recurrent profit and loss information can provide real and effective information for the decision of the majority of investors. In the past ten years, is the implementation of the non recurrent profit and loss disclosure system consistent with expectations, whether the earnings information after the deduction of non recurrent gains and losses is more valuable? Is the non recurrent profit and loss information easier to make As a means of earnings management? What specific items do managers prefer to use in non profit and loss to carry out earnings management?
Specifically, this article is divided into six parts:
The first part is the introduction. First, it analyzes the background of the study, then further expounds the two significance of this paper, and also introduces the structure of the paper, as well as the possible innovation and deficiency of this study in theory and practice.
The second part is the literature review. It summarizes the definition, disclosure, and the normative research and empirical research on the information content and value relevance of non recurrent profit and loss at home and abroad. It compares and analyzes the differences between domestic and foreign non recurrent profit and loss research fields, and finds the entry point of this article, and puts forward the following points. Paving the way out of the theoretical support.
The third part is an overview of the related theories. First, the definition of the concept of non recurrent profit and loss is discussed. Then, the theory of decision-making usefulness and the market effective theory of the research on accounting earnings information content are expounded. Finally, the research dimension of the accounting earnings information content and the value relevance of the accounting earnings information are introduced.
The fourth part is the analysis of the present situation and influence. It analyzes the present situation of the disclosure of the non recurrent profit and loss in the listed companies in China, and analyzes the main problems of the non recurrent profit and loss disclosure and the impact of the specific items of non recurrent profit and loss on the disclosure situation.
The fifth part is an empirical study. Based on the relevant theories and the analysis of the current situation of non recurrent profit and loss disclosure, the research hypothesis is proposed and the model is designed. The information content of the earnings per share index and the information content of earnings per share after deducting non recurrent profit and loss are analyzed, and the specific items on the non recurrent profit and loss are given. The empirical analysis is made on the impact of management decisions and the earnings management of non recurring gains and losses. Finally, the conclusions of this study are obtained.
The sixth part is the policy proposal. On the basis of the conclusion of the study and the analysis of the relevant theories, and combining with the national conditions of our country, the relevant regulatory departments, accounting standards makers and the broad investors have put forward the policy suggestions on the existing non recurrent profit and loss information disclosure system in our country. Finally, the questions found in the process of this study are combined. Problems and difficulties encountered in the study are analyzed, and possible directions for future research are proposed.
After a comprehensive comparative analysis, this paper draws the following conclusions: relative to the net profit of wide range, the correlation between the adjusted profit and the company value is higher after deducting the non recurrent profit and loss; it is difficult to determine the specific items which have more advantages in the earnings management, and the non recurrent profit and loss are a flexible and comprehensive earnings management. In terms of operational means of accrual basis, non recurring gains and losses are more important means of turning losses into profits.
The study of this problem did not take the change of information content as the focus of the study, and the time window period of the study was short, and the sample data collected were mostly before 2006. With the implementation of the new accounting standards in 2007, new regulations on the disclosure of non regular profit and loss were introduced, and the previous research did not respond to the new situation. Therefore, this article will expand the scope of the sample, select the new guidelines for nearly four years since the implementation of the 2007-2010 year samples to carry out a more comprehensive empirical test, and study the specific projects in the year, to further discuss the effect of non recurrent profit and loss on earnings management, to analyze the effect of the disclosure of the non recurrent gains and losses, and to improve the correlation. The disclosure policy provides empirical evidence.
Finally, there are some limitations and difficulties in this study. The differences in research methods and the differences in model selection may lead to different research conclusions. The research on the relevance of text to non recurrent profit and loss information content is only based on the real evidence research under the view of valuation and is not under the view of information and contract. The return model is used to make an empirical study on the value relevance of the non recurrent profit and loss information. In addition, the definition of earnings management is limited to the motivation of profit management in the case of empirical test, and there is no comprehensive consideration of profit smoothing, "wash the bath" and so on. The potential factors that affect persuasion.
【學(xué)位授予單位】：西南財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F275;F832.51;F224

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