【摘要】：盈余管理一直是國內(nèi)外學(xué)者們研究的熱點(diǎn)問題。貨幣政策屬于宏觀政策，上市公司盈余管理行為則屬于微觀領(lǐng)域，兩者之間存在密切的聯(lián)系，貨幣政策緊縮對(duì)于上市公司盈余管理的影響值得我們深入去研究�，F(xiàn)階段，鑒于我國法律法規(guī)體系不完善、市場機(jī)制不成熟，，上市公司對(duì)于非經(jīng)常性損益操縱利潤占了很大的一個(gè)比重，而且相關(guān)研究還表明盈余管理中使用非經(jīng)常性損益，比操縱應(yīng)計(jì)利潤更頻繁。本文選取2003年至2007年度我國滬深兩市制造業(yè)行業(yè)的上市公司作為研究對(duì)象，通過以非經(jīng)常性損益（營業(yè)外收支凈額）計(jì)算盈余管理代理變量，然后實(shí)證分析了貨幣政策緊縮與上市公司盈余管理的相關(guān)關(guān)系，最后根據(jù)所有權(quán)性質(zhì)、市場化程度不同的地區(qū)和財(cái)務(wù)風(fēng)險(xiǎn)控制變量的對(duì)比分析，進(jìn)一步驗(yàn)證兩者之間的關(guān)系。結(jié)果表明，當(dāng)中國人民銀行實(shí)行貨幣政策緊縮時(shí)，上市公司為了抵御從緊貨幣政策的沖擊而采取盈余管理的行為；再進(jìn)一步的研究發(fā)現(xiàn)，民營企業(yè)、ST公司和市場程度化低的地區(qū)企業(yè)相比于國有企業(yè)、非ST公司和市場程度化高地區(qū)的企業(yè)進(jìn)行盈余管理程度更高。最后，針對(duì)研究結(jié)果進(jìn)行了分析并且提出了一些合理化的建議和對(duì)策。
[Abstract]:Earnings management has always been a hot issue studied by scholars at home and abroad. Monetary policy belongs to macro policy, earnings management behavior of listed companies belongs to the micro field, there is a close relationship between the two, the impact of monetary policy tightening on earnings management of listed companies is worthy of our in-depth study. At present, in view of the imperfect laws and regulations system and the immature market mechanism, listed companies account for a large proportion of non-recurrent profit and loss manipulation profits, and the related research also shows that the use of non-recurrent profits and losses in earnings management is more frequent than the manipulation of accrued profits. This paper selects the listed companies in the manufacturing industry of Shanghai and Shenzhen stock markets from 2003 to 2007 as the research object, calculates the earnings management agent variables by using non-recurrent profit and loss (net revenue and expenditure outside business), and then empirically analyzes the relationship between monetary policy tightening and earnings management of listed companies. Finally, according to the nature of ownership and the comparative analysis of regional and financial risk control variables with different degree of marketization, Further verify the relationship between the two. The results show that when the people's Bank of China implements monetary policy tightening, listed companies adopt earnings management in order to resist the impact of tight monetary policy. Further research shows that private enterprises, ST companies and enterprises in areas with low market process are more likely to carry out earnings management than state-owned enterprises, non-ST companies and enterprises in areas with high market development. Finally, the research results are analyzed and some reasonable suggestions and countermeasures are put forward.
【學(xué)位授予單位】：廣東商學(xué)院
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F822.0

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