The Research On ST Listed Companies' Earnings Management

In recent years,the earnings management problem has received more and more attention from scholars and professionals.The scholars of developed countries have deeply studied earnings management,mainly through empirical study.Domestic scholars focus on empirical studies too,most of whom have mastered the regularity the earnings management.At present,earnings management is very common among listed companies,which would certainly have a great influence on capital market efficiency and minor shareholders' interests.Therefore,the earnings management problem has been one of the hot spots in academia.Differing from foreign scholars,the domestic academic circles pay more attention to the negative impact of earnings management.Excessive earnings management will definitely influence the reliability of accounting information and then mislead investors.If earnings management of listed companies is not controlled,it would be more common and damaging.So researches in the field are extremely significant.With the emergence of special treatment system in 1998,ST listed companies has become one of the special groups in Chinese capital market.The particular situation of ST listed companies makes them desperately want to implement earnings management and makes the results of earnings management more harmful to investors.Related researches can offer valuable references for strengthening market oversight,perfecting accounting standards and enhancing corporate governance.Based on the above ideas,this thesis selects Y.S.B.P as object,which have faced withdrawal crisis for two times,analyses its means of earnings management and finds out the reasonable countermeasures.This thesis combines theoretical exposition and case study to conduct research on Y.S.B.P's earnings management.First of all,by combing the changes of relevant rules,this thesis explains in detail how the special treatment system develops.Next,on the basis of summarizing a large number of relevant materials,this thesis analyses the basic theory of earnings management and earnings management of ST listed companies thoroughly.Then this thesis makes a detailed analysis of Y.S.B.P's earnings management.This chapter explains Y.S.B.P's basic situation,industry background and financial condition at first,then analyses the motives of Y.S.B.P to implement earnings management,next elucidates methods employed in earnings management by Y.S.B.P,finally reveals the conditions for successful earnings management of Y.S.B.P and the consequences followed.In the last chapter,the corresponding countermeasures of governing earnings management are proposed based on analysis above,which take both what the corporation should do and what the regulators and supervisors should do into account.