The Empirical Study Of The Influence That Accounting Standards And Regulatory Rules On Listing Corporations’ Earnings Management

At present, the company earnings management has become a widely study researched by economics and accounting all over the world. Since the reform and opening-up, Chinese market economy has a continual development, enterprises have a broader space for development, but also facing growing competition pressure, at the same time, Chinese capital market is not developing perfectly, there still exists many problems such as information asymmetry and economic man attribution, which creates space for listing Corporation to conduct earnings management. As a kind of public contract, accounting criteria has inherent defects. Under the current economic background, accounting criteria can only affect earnings management means of the listing Corporation, to curb the earnings management fundamentally, we should start from motivation, namely capital market supervision regulation. Our capital market regulation is also continually developing and improving, the refinancing qualification, special treatment, suspending the listing, delisted and other related conditions of listing Corporation are all around the company’s profitability. Generally speaking, criteria and supervision regulations only prevent listing Corporations from using the non-recurring gains and losses to get refinance qualification and remove special treatment, but not completely prevent the listing Corporation from using it to avoid the loss.This paper uses the method of normative research and empirical research to study the influence on the listing Corporation’s earnings management by accounting criteria and supervision regulations, taking the debt restructuring criteria as an example. There are two main reasons for the listing Corporation’s debt restructuring, namely financial difficulties and meeting government supervision regulations, this paper constructs a Logistic model about whether the listing Corporation happens a debt restructuring, analysing and testing under different debt restructuring criteria and supervision regulation of the different time, the correlation between company’s debt restructuring probability and the financial condition, the empirical results show that the listing Corporations conducting debt restructuring, the earnings management is constrained by supervision regulations rather than criteria, in the aspect of constraining earnings management, changing capital market supervision regulation is more effective than accounting criteria.