The Analysis On The Market Conductibility Of Corrections Of Accounting Errors

This article takes the corrections of accounting errors as one of the profit-manipulate. It begins with the root and the objective condition of the profit-manipulate, to analysis the reason and motivation of the corrections of accounting errors. Then, on the base of the effective market content and the CAPM theory, this paper analyses empirically the market conductibility of corrections of accounting errors with all "A" shares in 2001, and discovers there is no difference on stockjobbing amount and price.This paper classifies empirical analysis in two parts: the year of corrections and errors. It takes the corrections of accounting errors in 2001 as studied sample, and takes corporations who have the same unexpected earnings divided assets with studied sample as control sample. In the years of errors and corrections respectively, through the empirical analysis on stockjobbing amount and price, it researches there's no difference on studied sample and control sample in appointed areas, and the investors of our securities business have no specially attention on these information. On the other word, we validate the corrections of accounting errors have no market conductibility. Later, it analysis the reasons. Afterwards, form the dynamic Game Theory, it gets the action choices between corporations with CPA and supervisory institution. Contrasting this to empirical analysis, it researches the causation of difference.At last, this paper gives some material advice to keep it away.