Empirical Analysis Of Correlation Of Listed Construction Companies’Accounts Receivable And Profit Quality

With the development of the capital market and improve the quality of financial information, the listing Corporation requirements gradually increased, the listing Corporation should provide a true and fair view of the company’s financial position, operating results and cash flows, so that investors and other users of financial statements to get a true accounting information. Accounts receivable and profit quality closely linked, accounts receivable is one of the means listed company earnings management. Users of accounting information of listed companies through the research project accounts receivable, accounts receivable for changes in the listed company for analysis, you can determine the quality of the company’s profits, business conditions and investment value to some extent.Based on the relevant literature review and combing, drawing on existing research results, based on a clear definition of the quality of profits, information asymmetry theory, principal-agent theory as the theoretical basis, theoretical analysis of accounts receivable quality impact on profits. According to the construction of listed companies as the research object, select the Shenzhen Stock Exchange, Shanghai Stock Exchange listed companies as samples, using annual data from2009to2013for five years, the use of empirical research methods to analyze and verify the accounts relationship receivable and profit quality. Studies have shown that:(1) Construction accounts receivable of listed companies in the high proportion of assets; rapid growth in accounts receivable and higher than the main business revenue growth; receivable accounts receivable more than one year receivable larger proportion, which will increase the difficulty of the enterprise accounts recycling, increase the company’s opportunity costs and management costs, may enable enterprises to the lack of sustainable development in cash flow and financial distress;(2) Accounts receivable important factors that affect the quality of construction profits of listed companies, the lower the quality of accounts receivable larger the profits, but by strengthening the management of accounts receivable, accounts receivable turnover accelerated, shortening the receivables collection period, control accounts receivable increased to increase less than the main business revenue growth, reasonable provision for bad debts, improve the quality of profits;(3) accounting information users can be analyzed by the management of accounts receivable and evaluate building quality construction profits of listed companies;(4) the significant related party receivables no significant effect on profit quality.