摘要
通过检验微利公司、亏损公司和配股公司利用非经常性损益进行盈余管理的行为和市场是否对非经常性损益和经常性损益进行了区分定价。结果发现,微利公司存在明显的利用非经常性损益调高收益避免亏损的现象,亏损公司为了在来年顺利实现盈利表现为亏损年度非经常性损益显著为负,并且低于控制样本,1999年度的数据支持公司通过调控非经常性损益获取配股资格的结论。
This paper examines the behavior of firms having little profits, loss firms and seasoned offering firms that use nonrecurring earnings to manipulate earnings, and also examines whether market prices recur earnings and nonrecur earnings differently. The result shows that firms having little profit increase nonrecurring profits to avoid loss; nonrecurring earnings of loss firms are negative significantly and lower than the controlling sample in order to achieve profiting in the next year; the 1999＇s data hold out the result that seasoned offering firms adjust nonrecurring profits to satisfy seasoning condition. Nonrecurring profits and recurring profits have different continuity; however, the market pricing of earnings component is confusing.
出处
《浙江理工大学学报（自然科学版）》
2006年第4期490-495,512,共7页
Journal of Zhejiang Sci-Tech University(Natural Sciences)
关键词
盈余操纵
非经常性损益
净资产收益率
Earnings manipulation
Nonrecurring profit
Return of equity
作者简介
徐磊（1971-），男，上海人，博士研究生，主要从事企业管理的研究。
