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  本文關(guān)鍵詞：上市公司盈余管理與資本市場(chǎng)反應(yīng)關(guān)系研究　出處：《浙江工業(yè)大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 應(yīng)計(jì)盈余管理 真實(shí)盈余管理 資本市場(chǎng)反應(yīng) 換手率 股票年超�；貓�(bào)率

【摘要】：盈余管理最早開始于上世紀(jì)八十年代的西方學(xué)術(shù)界,一直是會(huì)計(jì)理論研究中的重點(diǎn)領(lǐng)域。隨著資本市場(chǎng)的不斷發(fā)展與完善,盈余管理不僅引起學(xué)術(shù)界、實(shí)務(wù)界和監(jiān)管部門的廣泛關(guān)注,對(duì)于資本市場(chǎng)也有一定的影響。上市公司通過(guò)盈余管理進(jìn)行利潤(rùn)操控,影響盈余信息質(zhì)量,盈余信息質(zhì)量是衡量上市公司經(jīng)營(yíng)業(yè)績(jī)與未來(lái)收益的重要指標(biāo),與資本市場(chǎng)關(guān)系密切。研究上市公司盈余管理與資本市場(chǎng)反應(yīng)的關(guān)系,對(duì)上市公司自身發(fā)展與資本市場(chǎng)資源配置有重要意義。 本文在分析上市公司盈余管理和資本市場(chǎng)反應(yīng)的相關(guān)理論的基礎(chǔ)上,結(jié)合滬深兩市A股1471家上市公司2007-2011年樣本數(shù)據(jù),采用多元線性回歸的方法,實(shí)證分析了上市公司盈余管理與資本市場(chǎng)反應(yīng)的關(guān)系。研究發(fā)現(xiàn)：①應(yīng)計(jì)盈余管理和真實(shí)盈余管理與股票換手率存在正相關(guān)關(guān)系,異常經(jīng)營(yíng)活動(dòng)凈流量和異常生產(chǎn)成本對(duì)股票年超常回報(bào)率存在負(fù)相關(guān)關(guān)系,異常操控性費(fèi)用對(duì)股票年超�；貓�(bào)有顯著的積極作用,應(yīng)計(jì)盈余管理對(duì)股票年超常回報(bào)沒有顯著影響；②當(dāng)考察應(yīng)計(jì)盈余管理與真實(shí)盈余管理對(duì)資本市場(chǎng)的共同影響,真實(shí)盈余管理對(duì)股票換手率有正相關(guān)關(guān)系,應(yīng)計(jì)盈余管理對(duì)股票換手率沒有顯著影響,應(yīng)計(jì)盈余管理對(duì)股票年超常回報(bào)率有正相關(guān)關(guān)系,異常經(jīng)營(yíng)活動(dòng)凈流量和異常生產(chǎn)成本對(duì)股票年超�；貓�(bào)率有負(fù)相關(guān)關(guān)系,異常生產(chǎn)成本和異常操控性費(fèi)用對(duì)股票年超常回報(bào)率有正相關(guān)關(guān)系。
[Abstract]:Earnings management began in the last century, in 80s the western academic circles, has been the focus of research in the field of accounting theory. With the development of the capital market, earnings management not only caused widespread concern in academia, practitioners and regulators, have certain influence to the capital market. The listed company profit manipulation the influence of earnings management, earnings quality, earnings information quality is an important indicator to measure the performance of listed companies and future earnings, capital market and close relationship. The relationship between earnings management and capital market reaction of listed companies, plays an important role in allocation of resources and capital market development of the listed company itself.
The basic theory of earnings management of listed companies and capital market based on the analysis on the combination of Shanghai and Shenzhen two A shares of 1471 listed companies in the sample data of 2007-2011 years, by using multiple linear regression method, empirical analysis of the relationship between earnings management and capital market reaction of listed companies. The study found that: the accrual earnings management and real earnings management and stock turnover rate is positively related to the abnormal operating activities net flow and abnormal production cost on stock abnormal returns are negatively related to abnormal handling costs, a significant positive effect on stock abnormal return, return should count the earnings management of stock abnormal no significant effect when common effects; the accrual earnings management and real earnings management on the capital market, the real earnings management on the stock exchange rate has a positive correlation between earnings management of stock The exchange rate has no significant impact on earnings management has a positive correlation with stock abnormal returns, abnormal operating activities net flow and abnormal production costs are negatively related to stock abnormal returns, abnormal production costs and abnormal handling cost on the positive relationship between the stock return rate. The extraordinary years

【學(xué)位授予單位】：浙江工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275.1;F832.51

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