Study On The Different Effects Of The Listed Companies’ Earning Quality Of The New Accounting Standards

This paper is based on the research results of earning quality at home and abroad,and we use factor analysis method to measure and study the earning quality of the top five industries listed companies in Shanghai Stock Market, and through descriptive statistics and paired sample test to study the earning quality of these listed companies. The result show that: first, in the first year the new Accounting Standards were implement, wholesale and retail industry、 real estate industry、 electric 、heating、gas and water production and supply industry’s earning quality has increased,manufacturing industry and transportation, warehousing and postal industry has declined. Second, in the long tern, the earning quality of transportation, warehousing and postal industry was the highest and the most stable, on the top of these five industries; wholesale and retail industry’s earning quality was obvious increased with the implementation of the new accounting standards, but dropped to the below of the simple average in 2008; The real estate industry and the wholesale and retail industry is relatively similar, the earning quality was more volatile each year; the earning quality of manufacturing industry presents the obvious polarization; thirdly, the new accounting standards has different effects on different industries. Transportation,warehousing and postal industry and wholesale and retail industry’s earning quality affected by the new accounting standards were significant, manufacturing industry、real estate industry、electric、heating、gas and water production and supply industry’s earning quality affected by the new accounting standards wasn’t significant. Fourthly,the new accounting standards had limited influence on those five industries. Finally,the conclusion of this study indicate out some shortcomings in the process of setting and implementation the new accounting standards, and put forward relevant policy recommendations.