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Title:	大陸地區新上市公司上市前盈餘管理與上市後業績變動關係之研究
Authors:	林家伶
Contributors:	康榮寶林家伶
Date:	2002
Issue Date:	2016-05-10 15:55:55 (UTC+8)
Abstract:	本研究將根據中國大陸證券市場及上市公司的特性，探討公司上市前是否會進行盈餘管理，且是否上市公司在上市前之盈餘管理會影響上市後的業績水準？公司在上市前的盈餘管理行為與上市前後業績變動現象之間，是否具某種程度的關係？　　研究中乃以自1992年1月1日至2002年5月31日為止，於上海證券交易所或深圳交易所初次公開上市，且自上市日起至公告為ST股日止五年內，發行A股之62家大陸初次上市公司為研究對象。　　本研究主要以無母數統計，檢視各經營績效變數及總應計項目、與營業有關之應計項目、營業外損益等盈餘管理代理變數，於上市前後期間之變動趨勢；複以最小平方法迴歸分析，檢視大陸地區新上市公司上市前盈餘管理與上市後業績變動之間的關係。　　實證結果顯示：　　1.大陸地區上市後業績衰退之上市公司，於初次公開上市時，的確存在以總應計項目，作為操縱損益手段的盈餘管理行為。　　2.並沒有顯著證據證明，大陸地區上市後業績衰退之上市公司，於初次公開上市時，會以與營業有關之應計項目，進行盈餘管理的行為。因此，我們無法以上市前與營業有關的應計項目，來合理預測上市後可能出現的盈餘變動趨勢。　　3.大陸地區上市後業績衰退之上市公司，在上市後會以增加營業外收益的方式，操縱損益以達窗飾財務報表之目的。　　This study examines the relationship between earnings management adopted by those who went public either at Shanghai Stock Exchange or at ShenZhen Stock Exchange in mainland China before initial public offerings and the deteriorating operational performance afterwards. 　　The sample comprises 62 listed companies from 1922 to 2002. Wilcoxon signed-rank test and Least Square Method are applied to examine all hypotheses within this study and the results are as follows: 　　1. Those, who went public in mainland China and experienced deteriorating operational performance after IPO, did manage earnings through total accruals to window dress financial reports before IPO. 　　2. There is no significant evidence that those, who went public in mainland China and experienced deteriorating operational performance after IPO, managed earnings through operating accruals to window dress financial reports before IPO. 　　3. Those, who went public in mainland China and experienced deteriorating operational performance after IPO, did manage earnings through non-operating income to window dress financial reports after IPO.
Description:	碩士國立政治大學會計學系
Source URI:	http://thesis.lib.nccu.edu.tw/record/#A2010000503
Data Type:	thesis
Appears in Collections:	[Department of Accounting] Theses

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