本文關(guān)鍵詞： 新三板 掛牌 融資 會(huì)計(jì)信息質(zhì)量　出處：《財(cái)會(huì)通訊》2016年12期 　論文類型：期刊論文

【摘要】：本文以"新三板"公司掛牌時(shí)公布的會(huì)計(jì)信息為研究對(duì)象,分析了掛牌同時(shí)融資和掛牌不進(jìn)行融資這兩類公司應(yīng)計(jì)利潤(rùn)及可操控應(yīng)計(jì)的差異,研究發(fā)現(xiàn),兩類公司盈余構(gòu)成存在顯著差異,掛牌同時(shí)融資的公司應(yīng)計(jì)項(xiàng)目占總資產(chǎn)的比例更高,但兩類公司在資產(chǎn)規(guī)模、盈利能力、成長(zhǎng)性等方面并沒有顯著差異�；谛拚齁ones模型的檢驗(yàn)則發(fā)現(xiàn),與已有相關(guān)研究不同,融資并沒有引發(fā)更高的可操控應(yīng)計(jì)。研究表明,在允許公司自主表達(dá)融資意愿的情況下以及投資者適當(dāng)性制度的約束下,新發(fā)股份融資并不必然引發(fā)更嚴(yán)重的盈余管理行為。當(dāng)然,鑒于"新三板"市場(chǎng)設(shè)立時(shí)間尚短,本文結(jié)果應(yīng)更加謹(jǐn)慎的加以解讀。
[Abstract]:This paper takes the accounting information published when the "new third board" company is listed as the research object, analyzes the difference of accrual profit and controllable accrual between the listed company and the listed company. There are significant differences in earnings composition between the two types of companies. The proportion of accrual items in the total assets of listed companies is higher, but the two types of companies in the size of assets, profitability. There is no significant difference in growth. Based on the test of modified Jones model, it is found that financing does not lead to higher controllable accruals. Under the condition of allowing the company to express its own financing intention and the restriction of the investors' suitability system, the newly issued stock financing does not necessarily lead to more serious earnings management behavior. In view of the short time of the establishment of the new three-board market, the results of this paper should be interpreted more carefully.
【作者單位】： 華東政法大學(xué)國(guó)際金融法律學(xué)院;
【基金】：中國(guó)博士后科學(xué)基金第55批面上項(xiàng)目(項(xiàng)目編號(hào):2014M551366)資助,中國(guó)博士后科學(xué)基金第八批特別資助(項(xiàng)目編號(hào):2015T80421)
【分類號(hào)】：F832.51;F275
【正文快照】： 一、引言所謂“新三板”其可追溯至2006年1月,國(guó)務(wù)院決定在股權(quán)代辦轉(zhuǎn)讓系統(tǒng)內(nèi)增設(shè)中關(guān)村科技園區(qū)轉(zhuǎn)讓試點(diǎn),這開起了“新三板”市場(chǎng)為新興科技及小微企業(yè)融資及股權(quán)交易服務(wù)的序幕,進(jìn)而2012年7月國(guó)務(wù)院批準(zhǔn)的《關(guān)于擴(kuò)大中關(guān)村試點(diǎn)逐步建立全國(guó)中小企業(yè)股份轉(zhuǎn)讓系統(tǒng)的請(qǐng)示》,而

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