| Accounting profit is the key index in all-accounting information, which not only reflects the past outstanding achievement, but also forecasts the growing prospect of listed companies combined with other indexes. After the publication of annual financial reporting of listed companies, investors usually evaluate the achievement of different companies by accounting profit index when they select objects in numerous listed companies. In securities market, legislation and administration institutions value and supervise the whole course from coming into the market to 芦xiting from the stock market by profit index. Recognition of the stock listed company, the confirmation of issuing price, absorbing new capital from market, ST and PT, which have osculation connections with profit index.Due to the importance of profit index in evaluating the managing achievements and gaining ability, some listed companies often manipulate profit index. For example, the managers color financial reporting in order to enhance issuing price before coming into the market; the managers manipulate earnings management to obtain share allotment qualification or avoid being deficit in three years; On the side, the managers tend to manipulate profit for their interests. The measures and methods of profit manipulation in public companies are more and more, for example affirming earnings in advance, altering means of accounting operation, the recombining of assets, related deals. The financing data of profit reporting cannot reflect the truth, which cannot forecast things in the future. Without good quality, the profit losses reference value .The low quality of profit will mislead investors and bring them serious lose. Accordingly, how to improve the profit quality of listed corporation and protect the benefit of numerous investors and correlative others to accelerate healthy development of the market has become an important matter of the specialists and the public.At such an environment, the paper is some correlative study of profit quality of china-listed companies by canonical and empirical measures in this essay. The key problem to be solved is how to improve profit quality of listed companies and protect the benefit of investors. The primary contents in this essay are: Firstly, the most problems in profit quality of listed companies: profit dataare short of authenticity and constitutes of profit is unreasonable; the proportion of main operating profit shows a bit of lowness. Earning in a good many listed companies depends on non-main operating income; In addition, there are not enough cash flow in profit. Secondly, applying a theoretical and empirical method to discussing the most infection factors of profit quality. This is an emphasis in this essay. Profit manipulation, profit structure, cash flows, accounting policy, accounting system, assets quality and financing risks, which have an infection on profit quality. Using a sample of 149 listed companies, the paper makes an empirical study on the relationship the proportion of main operating profit, the variance coefficient of proportion of main operating profit and the variance coefficient of ratio of net earning to net asset. As a result, we find main operating profit is the most important factor affects the stability of profit. Thirdly, it evaluates profit quality of listed companies by quantitative and qualitative analysis. Lastly, according to normative study and positive study about profit quality of listed company, it puts forward practical methods to improve the profit quality of listing companies.According to the study content and method on profit quality of listed companies, the thesis leads to the following conclusions:1 , Profit is available accounting information, the highness or lowness of profit quality produce a great impact on decision-making for investors and creditors.2, Profit with high quality is supposed to possess nether characters: integrality, authenticity, reliability, indemnificatory of cash, stability, durability, definability, security.3,... |
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