本文關(guān)鍵詞：房地產(chǎn)上市公司盈余管理影響因素的識別與分析　出處：《東北財經(jīng)大學》2013年碩士論文　論文類型：學位論文

  更多相關(guān)文章： 盈余管理 房地產(chǎn)上市公司 預收賬款 資產(chǎn)減值準備 財務費用

【摘要】：盈余管理是上市公司常用的粉飾財務報表的手段之一,它是機會主義的一種應用,且?guī)淼奈：陀绊懯蔷薮蟮�。盈余管理在實務中的濫用不僅影響財務報表的質(zhì)量還會擾亂市場秩序,并且影響上市公司的價值最終不利于投資者對投資目標股票價值的判斷。 房地產(chǎn)行業(yè)的發(fā)展關(guān)系到國計民生,首先,在十八大會議上我黨對于房地產(chǎn)行業(yè)的方針和政策有所變革主要體現(xiàn)在以下兩點：第一,市場供應以實現(xiàn)最終消費為主體,轉(zhuǎn)向消費主導型；第二,市場交易呈現(xiàn)增量與存量交易并重,轉(zhuǎn)向交易聯(lián)動型；其次,它的銷售、收款制度及其會計核算制度有著鮮明的行業(yè)特點,預收款項在其業(yè)務中占了很大的比例,這樣的特點既促進了房地產(chǎn)行業(yè)的銷售又提供了較大的盈余管理空間。第三,近年實施的新會計準則在防止房地產(chǎn)上市公司進行盈余管理方面有很大的提升,但由于會計準則只是一種規(guī)范,還是無法從根本上消除盈余管理手段的應用。 本文的研究表明：房地產(chǎn)行業(yè)的盈余管理動機明顯且其利潤豐厚,經(jīng)常利用盈余管理的手段實現(xiàn)資本、債務、節(jié)稅等目標。根據(jù)多年的研究數(shù)據(jù)表明：房地產(chǎn)企業(yè)由于其建造固定資產(chǎn)的期限長和特殊的銷售制度使其可以利用預收賬款和財務費用進行盈余管理。因此,本文通過識別對房地產(chǎn)上市公司盈余管理影響因素,并且對這些因素進行有效控制來抑制房地產(chǎn)上市公司的盈余管理行為,從而保證了房地產(chǎn)市場的健康發(fā)展并保護了投資者應享有的利益。 本文主要通過五部分來論證識別和分析房地產(chǎn)上市公司盈余管理影響因素的情況： 第一部分：緒論。該部分主要包括本文選題背景,識別和分析房地產(chǎn)上市公司盈余管理影響因素的意義,國內(nèi)外參考文獻綜述,本文的基本研究框架,以及本文的創(chuàng)新點和不足之處。 第二部分：盈余管理的基本理論。主要對盈余管理的概念、特征,盈余管理的影響因素及其盈余管理的度量方法進行概述以及房地產(chǎn)行業(yè)常用的幾種盈余管理方式進行說明。 第三部分：房地產(chǎn)行業(yè)盈余管理影響因素識別及其影響因素的因子分析。結(jié)合現(xiàn)行會計準則下對房地產(chǎn)行業(yè)會計核算的要求以及其獨特的預售制度提出了識別房地產(chǎn)上市公司盈余管理影響因素的因子分析的研究設計,并對提出的八個影響房地產(chǎn)行業(yè)盈余管理的因素進行因子分析,最后提取三個主要的可操控性變量,并提出相關(guān)假設。 第四部分：實證檢驗及分析。闡述樣本選擇及模型與變量的設計并對房地產(chǎn)上市公司盈余管理影響因素進行實證分析與檢驗。最后通過實證檢驗驗證假設。 第五部分為：結(jié)論和建議。第五部分在前一部分研究的基礎(chǔ)上,得出結(jié)論,并提出合理性的建議。 本文通過實證研究得出的主要結(jié)論如下： 我國房地產(chǎn)行業(yè)主要利用特殊的收款制度——預售制度,來進行盈余管理。 資產(chǎn)減值損失的相對變化額與盈余管理程度顯著正相關(guān),預計資產(chǎn)減值損失屬于會計估計,具有一定程度的主觀性,由于房地產(chǎn)上市公司擁有較大比例的固定資產(chǎn)和存貨,通常會利用資產(chǎn)減值損失進行盈余管理。 財務費用的相對變化額與盈余管理程度正相關(guān),現(xiàn)行準則擴大了借款費用資本化的范圍,將一般借款也包括在內(nèi),房地產(chǎn)上市公司項目建設期長,所以借款費用金額較大,借款費用資本化也成為了房地產(chǎn)上市公司進行盈余管理的手段。 本文的創(chuàng)新之處在于：首先,現(xiàn)階段有關(guān)企業(yè)的盈余管理的研究都是建立在所有全行業(yè)樣本和虧損企業(yè)樣本上,而本文將從房地產(chǎn)上市公司財務報表中提取數(shù)據(jù),對影響房地產(chǎn)上市公司的盈余管理的因素進行實證研究分析；其次,本文結(jié)合房地產(chǎn)企業(yè)的結(jié)算特點采用修正的瓊斯模型,將預收賬款加入了模型中；最后,針對這些因素提出相應的抑制措施。 文本的不足之處是由于數(shù)據(jù)收集的限制只研究了2010-2012年房地產(chǎn)上市公司的盈余管理情況。希望以后的研究能對本文研究的數(shù)據(jù)進行補充以豐富研究成果。
[Abstract]:Earnings management of listed companies is one of the commonly used means to whitewash financial statements, it is an application of opportunism, and bring harm and influence is huge. The abuse of earnings management in practice not only affects the quality of financial statements will disrupt the market order, and ultimately affect the value of listed companies is not conducive to investors to judge the investment objectives the value of the stock.
The real estate industry development related to the first, eighteen beneficial to the people's livelihood, in the meeting of our party for the real estate industry policy and the policy change is mainly reflected in the following two points: first, the market supply in order to achieve the final consumption as the main body, to a consumption led; second, market transactions are both incremental and stock transaction to transaction linkage type; secondly, its sales, payment system and the accounting system has distinctive characteristics of the industry, advance payments accounted for a large proportion of its business, such features not only promote the real estate industry sales and provide more space for earnings management. Third, the implementation of the new accounting standards in preventing the real estate listed companies earnings management has greatly improved, but because of accounting standards is a kind of standard, or can not eliminate the application means of earnings management fundamentally.
This study shows that the real estate industry earnings management motivation is obvious and the lucrative, often use the means of earnings management of capital, debt, tax and other targets. According to the research data for many years indicated that the real estate enterprises because of its long term construction of fixed assets and special sales system so that it can be used to manage earnings pre accounts receivable and financial costs. Therefore, the factors of earnings management of listed companies affect the recognition of the real estate, the earnings management behavior of these factors and effective control to suppress the real estate listed companies, so as to ensure the healthy development of the real estate market and protect investors should enjoy interests.
This article mainly through five parts to demonstrate the identification and analysis of the factors affecting the earnings management of the listed real estate companies.
The first part is the introduction. This part mainly includes the background of choosing this topic, identifying and analyzing the significance of earnings management of real estate listed companies, summarizing the references at home and abroad, the basic research framework of this article, and the innovation and shortcomings of this paper.
The second part: the basic theory of earnings management. It mainly introduces the concept and characteristics of earnings management, the influencing factors of earnings management and the measurement methods of earnings management, and explains several commonly used earnings management methods in real estate industry.
The third part: the analysis of factors and influencing factors of earnings management affect the real estate industry. The real estate industry accounting combined with the current accounting standards and its unique pre-sale system puts forward the research design and analysis of factors influencing factor of earnings management to identify the real estate listed companies, and to put forward the eight factors of earnings the management of the real estate industry by factor analysis, finally extracted three main control variables, and puts forward the hypothesis.
The fourth part: Empirical Test and analysis. The sample selection and the design of models and variables are elaborated, and the influencing factors of earnings management in real estate listed companies are analyzed and tested. Finally, the hypotheses are verified through empirical tests.
The fifth part is: conclusions and suggestions. On the basis of the previous part, the fifth part draws conclusions and puts forward reasonable suggestions.
The main conclusions of this paper are as follows:
The real estate industry in China mainly uses a special collection system, the pre sale system, to carry out the earnings management.
Is positively related to asset impairment loss relative change amount and degree of earnings management, asset impairment loss is expected to accounting estimates, with a certain degree of subjectivity, because the real estate listed companies have a larger proportion of fixed assets and inventories, usually lost earnings management using assets impairment loss.
Is the relative change of amount of financial costs associated with the degree of earnings management, the existing criteria to expand the scope of the capitalization of borrowing costs, the general borrowing is also included, projects of real estate listed companies, so the cost of borrowing amount is larger, the capitalization of borrowing costs has also become a means of earnings management of listed real estate companies.
The innovation of this paper lies in: firstly, the research on earnings management of enterprises at present are established in all industries and enterprises sample sample, the paper from the listed real estate company in the financial statements data, analyze the influence factors of real estate listed companies earnings management; secondly, based on the settlement characteristics of the real estate business by using the modified Jones model, will join AR model; finally, according to these factors put forward the corresponding suppression measures.
The deficiency of the text is due to the limitation of data collection. We only studied the earnings management of real estate listed companies for 2010-2012 years. We hope that future research can supplement the data of this study to enrich the research results.

【學位授予單位】：東北財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F275;F299.233.4

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