西部论坛Issue(2)：93-99,7.DOI:10.3969/j.issn.1674-8131.2014.02.10
盈余管理方向与企业投资效率
Direction of Earnings Management and the Efficiency of Enterprise Investment
摘要
Abstract
By taking the data of Shanghai and Shenzhen A-share listed companies during 2008-2010 as the example, this paper examines the influence of earnings management degree on enterprise investment efficiency from different directions of earnings management, and the research finds that properly positive earnings management is conducive to mitigating the insufficiency of enterprise investment but excessively positive earnings management can deteriorate the shortage of enterprise investment, that negative earnings management always produces the problem in investment shortage, that properly positive earnings management can boost the confidence of the investors to ease the financing constraint of an enterprise, that the supervising departments should be able to endure the enterprises to conduct proper earnings management but should not only emphasize so-called “real accounting information”.关键词
正向盈余管理/负向盈余管理/投资效率/融资约束/投资不足/盈余管理信息观/巨额冲销/操控性应计利润Key words
positive earnings management/negative earnings management/investment efficiency/financing constraint/investment insufficiency/earnings management information view/huge money counterbalance/discretionary accruals分类
管理科学引用本文复制引用
袁卫秋..盈余管理方向与企业投资效率[J].西部论坛,2014,(2):93-99,7.基金项目
国家自然科学基金资助项目（70972141）“垄断势力对并购绩效的影响竞争强度、研发密度的作用”；国家自然科学基金资助项目（71271139）“融资约束影响产业绩效并购规模与并购方向的作用”；江苏高校哲学社会科学项目（2013SJD630020）“我国上市公司营运资本管理效率研究” （）
