上市公司会计报表粉饰现象剖析

厦门大学硕士学位论文上市公司会计报表粉饰现象剖析姓名：李菁羽申请学位级别：硕士专业：工商管理指导教师：吴世农20050901AbstractThewindowdressingofChineselistedcompanieshasbecomeaseverephenomenon.WiththeissuingofAccountingPrinciplesinrecentyears,thedistortioninaccountinginformationoccursinsomenewmodes,whichnotonlyhurtstheinvestors’interestsbutalsodestroystheorderofthewholesecuritymarket.Soit’sofsignificantmeaningforprotectingtheinvestors’interests,strengtheningsecuritysupervision,andacceleratingthedevelopmentofsecuritymarkettostudythewindowdressingmeasuresofChineselistedcompaniesandanalyseitsessence.Thethesisconsistsoffiveparts.Thefirstpartintroducesthedefinitionofwindowdressingandmakesasummarizationofrelativetheoriesbothdomesticandoverseas.ThesecondpartputsmucheffortonthetypicalwaysChineselistedcompaniesuseinwindowdressing.ThethirdpartsyntheticallyconcludesthemotivationsandconditionsofwindowdressingofChineselistedcompanies.Withthisunderstanding,thefourthpartputsforwardthemethodstodetectwindowdressing,andthefifthpartproposesthecountermeasurestoreducewindowdressingandregularizethesecuritymarket.ThethesisconcludesthatthemeasuresusedinwindowdressingbyChineselistedcompaniesarerelatedpartytransactions,accountingestimation,equityinvestment,assetrecombination,deferredassets,etc.Themotivationsofwindowdressingareperformanceevaluation,obtainingloansandbusinesscredit,issuingstocktopublic,reducingtaxpayable,etc.Theconditionsofwindowdressingaretheasymmetryofinformationbetweenmanagementandinvestors,weaknessofinternalcontrol,unsubstantialexternalsupervision,etc.Themethodsofdetectingwindowdressingareindustrybackgroundanalysis,overallanalysisoffinancialstatementsandtheanalysisofspecificaccounts.Thethesisprovidessuchsuggestionstoeliminatewindowdressinginaccountinginformationasacceleratingthelawandaccountingsstandardestablishing,improvingcorporatemanagementstructure,carryingouttheprojectofhonestyeducation,etc.Keywords:ListedCompany;WindowDressingofFinancialStatements;Detection.12005729115510ST108232005832002ST231PaulM.HealyDiscretionaryAccrualsNon-discretionaryAccruals1[-kk]132L’L’UPaulM.Healy,“TheEffectofBonusSchemesonAccountingDecisions”,JournalofAccountingandEconomics4,1985,P85-107.41DA1123k0C1+NA1L-KLL’L+KU-KUU+K-kL=U=L’=K=C1=NA1=20024P142SweeneyA.1980-19893013012341SweeneyA.,“Debt-CovenantViolationsandManagers”,JournalofAccountingandEconomics17,1994,P281-308.52331Morer19882Jones3Key208090MoryerS.E.,“CapitalAdequacyRatioRecalculationsandAccountingChoicesincommercialBanks”,JournalofAccountingandEconomics18,1998,P157-179.JonesJ.,“EarningsManagementduringImportReliefInvestigation”,JournalofAccountingResearch,Autumn1991,P193-228.KeyK.G.“PoliticalCostIncentivesforEarningsManagementintheCableTelevisionIndustry”,JournalofAccountingandEconomics23,1997,P309-337.641DeAngelo2DechowandSloanDiscretionaryInvestmentExpenditures3DeAngeloH.,“ManagerialCompetition,InformationCostandCorporateGovernance;theUseofAccountingPerformanceMeasuresinProxyContests”,JournalofAccountingandEconomics,October1988,P3-36.DechowP.M.andRichardG.Sloan,“ExecutiveIncentivesandtheHorizonsProblems:AnEmpiricalInvestigation”,JournalofAccountingandEconomics14,1991,P51-89.7DeFondandPark51DeAngelo,DeAngeloandSkinner2BurgstahlerandDichevDefondM.L.andChulW.Park,“SmoothingIncomeinAnticipationofFutureEarnings”,JournalofAccountingandEconomics23,1997,P115-139.DeAngeloH.,LindaDeAngelo,andDouglasJ.Skinner,“AccountingChoiceinTroubledCompanies”,JournalofAccountingandEconomics17,1994,P113-143.BurgstahlerD.andIliaDichev,“EarningsManagementtoAvoidEarningsDecreasesandLosses”,JournalofAccountingandEconomics24,1997,P99-126.83SharmaandStevenson6Dechow,SloanandSweeney1982-1992SEC9292SEC19341SEC237SharmaD.andPetaA.Stevenson,“TheImpactofImpendingCorporateFailureontheIncidenceandMagnitudeofDiscretionaryAccountingPolicyChanges”,BusinessAccountingReview29,1997,P129-153.91123456123456789102199942910123311998P112-143P5-919994P43-48112345123441999512561997200353145Logistic720014200310P8-1213120219994.143EarningsManagement2080115234216217120001030100012000112287000436%53962STST182000ST2975ST99.69%ST3200015%309%4200070%7299165.8%289820007541.686031.23%19520001-4———1.265010076.9180008000200010076.916776.51200041757.0920001757.09433.620002020011221123200111×42115%156222090——200212420ST50%2720ST1020021.———2003(27).2312002ST4.51.394.18ST3.5819210001.2588.4ST1.427.98.671.63.3ST6.821006.54ST2.953.74ST26.955.934ST1004.36.68200224ST20012002STST2002292003ST15.81320021.0125(*ST)()2002*ST10*ST2002*ST2002228332003352502004*ST2004118008260207020043.322324023240*ST0.92*ST1.0520044793.3283*ST20041.18*ST20046*ST26717311251084241*ST88*ST*ST*ST*ST*ST*STA20041228200521*STST*ST2720%19961998200328199819986620022002182003200310199910291231997116926219261500012145494147960229609733235.9%1997132273019985640%400095%17185282700030005640003500199719980.5743%30177%199820042003200231200519972001180002200158001997200140064006552199720011866620012001322003481.8282004-APEX26200212313.415-2015-2015-2015-203319978064199734*ST20007762.42001132020002616200420,00020058320023520031148·9.881