基于分类转移的盈余管理研究——来自中国上市公司的经验证据被引量：39

Earnings Management Research Based on Classification Shifting:Empirical Evidence from Chinese Listed Companies

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摘要以粉饰或掩盖公司真实经济业绩为目的的盈余管理行为一直是学术界关注的重要问题。针对以往研究缺乏对中国上市公司分类转移行为的关注,文章选取2007-2012年沪深两市A股上市公司的财务数据,实证考察了管理层利用线上项目与线下项目之间的分类转移调整公司盈余结构的行为。研究发现:(1)管理层会将经营费用向下转移至营业外支出或将营业外收入向上转移至营业收入,以调增公司的核心盈余;(2)管理层会利用线上项目与线下项目之间的分类转移实现营业利润增长和避免营业利润为负;(3)管理层利用线上项目与线下项目之间的分类转移调增核心盈余的程度随着第一大股东持股比例、独立董事比例和机构投资者持股比例的增大而减少,随着审计质量的提高而增加,并且大股东和独立董事对分类转移操纵的抑制作用仅在非国有企业中得以体现,而机构投资者对分类转移操纵的抑制作用仅在国有企业中得以体现。文章为会计准则制定者、公司治理层以及企业外部审计师审查分类转移操纵提供了借鉴。 Earnings management behavior aiming at prettifying or covering up corporate real economic performance has attracted attention from the academia. In the view of little attention paid by previous studies to the behavior of classification shifting in Chinese listed companies, this paper empirically investigates the adjustment to corporate earnings structure through classification shifting between above-the-line and below-the-line items by using the financial data of A-share listed companies in Shenzhen and Shanghai stock markets from 2007 to 2012. It comes to the results as follows： firstly, managers shift operating expenses downward to non-operating expenses or non-operating income upward to op- erating revenues to increase core earnings; secondly, managers use classification shifting between above-the-line or below-the-line items to achieve increases in operating income and avoid the report of negative operating income; thirdly, the magnitude of the increase in core earnings by managers through classification shifting between above-the-line or below-the-line items is negatively related to the shareholding ratios of the largest share- holder, independent directors and institutional investors, and is positively related to audi- ting quality; the inhibition role of large shareholders and independent directors in classifi- cation shifting manipulation only exists in non-state-owned enterprises, and the inhibition role of institutional investors in classification shifting manipulation only exists in stateowned enterprises. It provides reference for classification shifting manipulation reviews from accounting standard setters, corporate governance level and external auditors.

作者程富王福胜

机构地区哈尔滨工业大学管理学院

出处《财经研究》 CSSCI 北大核心 2015年第7期81-94,共14页 Journal of Finance and Economics

基金国家自然科学基金面上项目(70972097) 国家自然科学基金重点项目(71031003)

关键词分类转移盈余管理线上项目线下项目核心盈余 classification shifting earnings management above-the-line item below-the-line item core earnings

分类号 F275 [经济管理—企业管理] F276.6 [经济管理—企业管理]

作者简介程富（1985-），男，江西赣州人，哈尔滨工业大学管理学院博士研究生；王福胜（1964-），男，黑龙江富锦人，哈尔滨工业大学管理学院教授，博士生导师。