本研究首先利用修正的Jones模型對申請上市企業的盈餘管理狀況進行實證研究。然後再以政府的產業發展規劃作為切入點，利用實證研究的結果來找出政府的產業發展規劃對企業的盈餘管理行為產生影響的證據。
本研究的實證結果分別從行業之間的差別、年度之間的差別、申請上市板塊之間的差別三方面，為本研究提出的假設提供了證據，有力地支持了政府的產業發展規劃會對企業的盈餘管理行為產生影響這一觀點。

In this research the Modified Jones Model is introduced to detect the earnings management potentially existing in the private firms in the application process of initial public offerings. The planned industrial policy recently formulated by the Chinese government is hypothesized to influence the degree of earnings management for those pre-IPO firms in the specific industries highlighted by the governmental industrial policy. The empirical results support the facts the earnings management taken by pre-IPO firms is affected by the government’s industrial policies. Besides, this paper also provides evidence to conclude different pre-IPO firm’s earnings management in terms of industries, accounting years before first IPO applications, and targeted application boards. This research would shed some light on the regulation of manipulated earnings management of pre-IPO based on the rich empirical results provided.

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