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研究生： Takashi Miura
論文名稱： IPO審查階段的公司盈餘管理初探：以中國大陸之國營企業及民營企業之比較為例
A comparative analysis of pre-IPO earnings management between SOE and NSOE in China
指導教授： 王信實
Wang, Shinn Shyr
李文傑
Lee, Wen Chieh
學位類別： 碩士
Master
系所名稱： 社會科學學院 - 經濟學系
Department of Economics
論文出版年： 2016
畢業學年度： 104
語文別： 英文
論文頁數： 40
外文關鍵詞： Non-state-owned enterprise, Property plant and equipment, Long –term debt, Account receivable
相關次數： 點閱：247  下載：55 
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    • This study investigates an appropriate accrual-based model in detecting earnings management (EM) of Chinese firms undergoing initial public offering (IPO) process. The mainstream literatures show that state-owned enterprise (SOE) has involved with less earnings management (EM) than non-state-owned enterprise (NSOE) in pre-IPO market from 2003 to 2009. The reason is that SOE could borrow money from bank, compared to NSOE. However, SOE has been proven to conduct stronger EMs in pre-IPO market during 2011 to 2013 by manipulating with property plant and equipment (PPE), the flows of account receivable (AR) and long-term debt (LTD). Besides, I also suggest a new accrual-based model that could better fit into the unique features of Chinese firms in their process of IPO application.

    I. INTRODUCTION 5
    II. LITERATURE REVIEW 7
    Review of earnings management in China 7
    Research method in detecting earnings management 7
    Intertwined relationship between Chinese companies and government 8
    Accounting items relating to discretionary accruals 9
    III. HYPOTHESIS DEVELOPMENT 10
    Previous studies on basic regression model 10
    Application of the accrual model in the developing counties 10
    The accrual model with Chinese characteristic 11
    Factor of earnings management in Chinese pre-IPO companies 12
    IV. STATISTICAL ISSUES 13
    V. MEASURING DISCRETIONARY ACCRUALS 15
    Data Selection 15
    Decomposition of Total Accrual 15
    Accrual-Based Model 16
    i. The modified Jones model 16
    ii. Yoon (2006) model 16
    iii. The new model 18
    VI. EXPERIMENTAL DESIGN 19
    Sample Construction 19
    i. Utilized Sample 19
    ii. Identification of SOE 19
    Data Analysis 19
    Difference Test for Earnings Management 20
    VII. THE EMPIRICAL RESULTS 21
    VIII. CONCLUSIONS AND IMPLICATIONS 35

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