我国上市公司收益质量分析的实证研究

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1、我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究53我国上市公司收益质量分析的实证研究摘要自20世纪90年代初，上海证券交易所（1990年

2、12月）与深圳证券交易所（1991年7月）相继成立，我国证券市场特别是股票市场在最近十几年间得到了巨大的发展，为社会主义市场经济体制的建立与完善发挥了重要作用。但是目前中国证券市场与成熟证券市场（如美国、日本等）和新兴证券市场（如香港、韩国）等相比都处于初级阶段，具有其特殊性如上市公司普遍存在收益操纵行为等，这说明中国证券市场参与者的行为尚待规范，市场尚待进一步完善和发展。本文正是依托我国目前尚不规范的证券市场开展实证研究。通过经营现金流量与会计收益的相关程度研究，运用分析考察了上市公司收益质量状况，通过对盈余操纵公司经营现金流量与会计

3、收益之间关系的实证研究，希望发现鉴别上市公司盈余操纵的方法和预警指标。关键字：收益质量；盈余管理；经营现金流；实证研究EMPIRICALSTUDYONQUALITYOFACCOUNTINGINCOMEOFLISTEDCOMPANIESINCHINAAbstractSincetheestablishmentofShanghaiandShenzhenStockExchangeintheearly1990’sChina’ssecuritiesmarkethasachievedtremendousdevelopmentinthepastten-

4、plusyears.Italsoplayanimportantpartinthedevelopmentofsocialistmarketeconomy.Atthesametime,itpossessessomeparticularitiescomparedwithherdevelopedones(likeAmericanandJapan)andthedevelopingones(likeHongkongandKorea),includingtheseriousmanipulationbehaviorofaccountingincome.

5、Theaboveshowsthatthebehaviorofparticipantsneedstobestipulatedandthemarketneedtobeconsummatedanddevelopedbecauseitisyetintheprimaryphase.Mythesis,basedonthepresentstockmarket,isanempiricalresearch.Itreviewsthequalityofaccounting53earningoflistedcompanies,byanalyzingtherel

6、ationbetweentheNetEarninginaccountingandCashflowDatafromoperatingactivities.Unveilstheexistencemanipulatingaccountingearningthroughempiricalmethods.Whatdiscussedistoprobeintotheapproachoffindingthemanipulationbehaviorofaccountingearningoflistedcompaniesfromthepointofview

7、ofcashflow.Keyword:Qualityofearnings;Earningsmanagement;Cashflowfromoperatingactivities;Empiricalstudy目录摘要„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„ⅠAbstract„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„Ⅱ1绪论„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„11.1研究背景„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„11.2研究意义„„„„„

8、„„„„„„„„„„„„„„„„„„„„„„„„„„11.3国内外研究现状„„„„„„„„„„„„„„„„„„„„„„„„„„„„11.3.1国外的有关研究„„„„„„„„„„„„„„„„„„„„„„„„„