| 股权再融资、现金流量操纵与盈余管理 |
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| 引用本文： | 张正国.股权再融资、现金流量操纵与盈余管理[J].成都信息工程学院学报,2010,25(1):112-117. |
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| 作者姓名： | 张正国 |
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| 作者单位： | 成都信息工程学院商学院,四川,成都,610225 |
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| 基金项目： | 成都信息工程学院发展基金项目资助(KYTZ200805) |
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| 摘 要： | 盈余管理是当前财务学和会计学研究的核心问题之一。从经营现金流量角度，利用2001—2006年股权再融资上市公司数据，考察了再融资过程中的盈余管理行为。研究表明，上市公司再融资过程中存在着对经营现金流业绩操纵的盈余管理行为，从而导致上市公司再融资后经营现金流业绩普遍下降。同时，检验了对经营现金流业绩操纵的主要手段，如延迟货款支付等。
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| 关 键 词： | 企业管理 财务契约 股权再融资 现金流量操纵 盈余管理 |
Equity Refinancing,Manipulation over Cash Flow and Earnings Management |
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| ZHANG Zheng-guo.Equity Refinancing,Manipulation over Cash Flow and Earnings Management[J].Journal of Chengdu University of Information Technology,2010,25(1):112-117. |
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| Authors: | ZHANG Zheng-guo |
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| Institution: | School of Business;Chengdu University of Information Technology;Chengdu 610225;China |
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| Abstract: | Earnings management is one of the most critical problems in finance and accounting fields.This paper draws from existing research findings and analyzes the earnings management of listed companies refinancing based on the operational cash flow,using the data of the refinanced companies between 2001 and 2006.We find that,listed companies have the earnings management on cash flow manipulation in the equity refinancing,and it brings about that listed firms' cash flow gains decrease generally behind the refinanc... |
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| Keywords: | business management financial contracts equity refinancing manipulation over cash flow earnings management |
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