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基于成本收益理论,本文以沪深两市上市公司作为样本进行实证检验,研究管理者如何选择盈余管理方法。研究发现,真实盈余管理的成本和应计盈余管理的水平正相关。同样,应计盈余管理的成本与真实盈余管理的水平正相关,说明管理者会考虑两种方法的成本孰低进行选择。进一步发现管理者会根据当年已实现的真实盈余管理的结果,调整其应计盈余管理的水平,即两种盈余管理方法之间有替代关系。通过分析管理者选择盈余管理方法的过程,提出增加盈余管理成本,以及结合企业的具体情况,针对不同时期以及使用的盈余管理方法,采取不同监管措施的建议。
Based on the theory of cost-benefit, this paper uses the listed companies in Shanghai and Shenzhen as samples to test the managers how to choose the earnings management method. The study found that the real earnings management costs and the level of accrued earnings management is positively correlated. Similarly, the cost of accrued earnings management correlates positively with the level of real earnings management, indicating that managers consider the lower cost of both options. It is further found that managers will adjust their level of accrued earnings management according to the actual earnings management that has been realized in that year, that is, there is an alternative relationship between the two methods of earnings management. By analyzing the process of managers selecting earnings management methods, this paper puts forward some suggestions on how to increase the cost of earnings management and how to take different regulatory measures in different periods and the methods of earnings management.