主要发现 Main Findings B股和H股公司税后净利润的境内外报告存在 着巨大的差异 Significant difference in reported earnings based on cas and ias for B-share and H-share companies 这种差异具有逐渐下降的趋势 The difference is decreasing over years 境内外会让师事务所的关系对于净利润差异 真有比較重要的影响 The difference is affected by the relationship between domestic and oversea auditors
主要发现 Main Findings ⚫ B股和H股公司税后净利润的境内外报告存在 着巨大的差异; Significant difference in reported earnings based on CAS and IAS for B-share and H-share companies ⚫ 这种差异具有逐渐下降的趋势； The difference is decreasing over years ⚫ 境内外会计师事务所的关系对于净利润差异 具有比较重要的影响； The difference is affected by the relationship between domestic and oversea auditors
局限性 Limitations 在差异的截面解释上,基本上是从会计制度与审 计师的层面寻求原因,对于上市公司本身的行为 动机则考虑不够; Cross-sectional explanations focus on the accounting system and auditor while ignore the motivation of listed companies 上述研究主要着眼于 采用的不同会计体系对 于会计数据所产生的 花隔 求的是信息横向可 比性的增强,对于这种体系本身的纵向变革所 生的总体效应仍然缺乏了解; Need to understand the overall effect of the system change(introduction of accounting standards to existing system)
局限性 Limitations ⚫ 在差异的截面解释上，基本上是从会计制度与审 计师的层面寻求原因，对于上市公司本身的行为 动机则考虑不够； Cross-sectional explanations focus on the accounting system and auditor, while ignore the motivation of listed companies ⚫ 上述研究主要着眼于并行采用的不同会计体系对 于会计数据所产生的影响，寻 求的是信息横向可 比性的增强，对于这种体系本身的纵向变革所产 生的总体效应仍然缺乏了解； Need to understand the overall effect of the system change (introduction of accounting standards to existing system)
盈余管理与会计政策选择 Earnings Management and Accounting Policy Choice ●盈余管理的研究往往从某种特定的经济动机出 发,寻找盈余管理动机存在的证据及其方式 Earnings Management research try to find evidence of existence and methods of earnings management by focusing on specific economic incentive ●会计政策选择的研究则是从具体的选择结果出 发,探讨特定会计政策背后的经济动机; Accounting Policy Choice analyzes the incentive based on the policy chosen
盈余管理与会计政策选择 Earnings Management and Accounting Policy Choice ⚫ 盈余管理的研究往往从某种特定的经济动机出 发，寻找盈余管理动机存在的证据及其方式; Earnings Management research try to find evidence of existence and methods of earnings management by focusing on specific economic incentive ⚫ 会计政策选择的研究则是从具体的选择结果出 发，探讨特定会计政策背后的经济动机； Accounting Policy Choice analyzes the incentive based on the policy chosen
盈余管理动机 Incentive of Earnings management ●西方 Western 资本市场动机; Capital market Incentive 基于会计盈余数据的契约动机; Contract based on the accounting numbers 迎合或规避政府监管的动机; Government Regulation 中国 China 圈钱 Capital Suction 坐庄 Stock Price Manipulation 保级 Maintain Listing Right
盈余管理动机 Incentive of Earnings Management ⚫ 西方 Western – 资本市场动机； Capital Market Incentive – 基于会计盈余数据的契约动机； Contract based on the accounting numbers – 迎合或规避政府监管的动机； Government Regulation ⚫ 中国 China – 圈钱 Capital Suction – 坐庄 Stock Price Manipulation – 保级 Maintain Listing Right
主要文献 Literatures on Em in China ●IPO过程中的财务包装: Aharony,Lee,Wong(2000); 林舒,魏明海 (2000); Financial Packaging in IPO ●配股动机:蒋义宏(1998b);刘杰(1999);孙铮 王跃堂(1999);陈小悦,肖星,过晓燕(2000); 章永奎(2000); Earnings Management for Right Offering ●亏损公司的盈余管理:陆建桥(1999;陈晓,戴翠 玉(2002),薛爽(2003) Earnings management for Loss firms ●政府的盈余管理行为:陈晓,李静(2001); Earnings management by Government
主要文献 Literatures on EM in China ⚫ IPO 过程中的财务包装: Aharony, Lee,Wong（2000）； 林舒，魏明海（2000）； Financial Packaging in IPO ⚫ 配股动机： 蒋义宏（1998b）；刘杰（1999）；孙铮， 王跃堂（1999）；陈小悦，肖星，过晓燕（2000）； 章永奎（2000）； Earnings Management for Right Offering ⚫ 亏损公司的盈余管理：陆建桥（1999）；陈晓，戴翠 玉（2002），薛爽（2003） Earnings Management for Loss Firms ⚫ 政府的盈余管理行为：陈晓，李静（2001）； Earnings Management by Government