Earning Forecast?Corporate Governance And Earning Management

Management earnings forecast is an important part of accounting information disclosure of listed companies.From the listed companies in China,whether to disclosure earnings forecast information is the result of weighing the benefits and costs.For investors who receive the information of earnings forecast,the quality of information is closely related to the decisions of invest,and only high quality information can benefit investors.Because there is implicit contract between investors and profit forecasts,managers may use regulators of incomplete contracts and asymmetric information,and lower earnings forecast through manipulation of earnings management,passing signal to the capital markets and establish a good reputation of the forecast.The earnings management behavior when it happens,will bring chaos of capital market information,disclosure of earnings forecast lost its original meaning to a certain extent.So research behavior of earnings management in the process of is necessary,it's helpful to promote the improvement and development of China's securities market.Gem is an emerging market with high growth and higher risk,its influence of the quality of information disclosure on investors of decisions more,so that study the gem has practical significance.Paper on venture board listed company profit forecast in the of surplus management behavior of research main from following several aspects expand: first,through literature reviewed and theory analysis,judge whether there are earning management in earning forecast;then analysis by selected sample of profit forecast accuracy,results found its errors smaller,accuracy high,so proposed paper of problem,that in profit forecast this process in the whether exists surplus management behavior? Then use extension Jones model and Roychowdhury model to calculate the accrual earnings management and real earnings management,found that compared with low relative to predictive accuracy,greater forecast accuracy of enterprise surplus management;enterprise relative to the negative forecast errors,positive error more high level of enterprise surplus management.Last by introducing corporate governance and conduct regression analysis,results revealed that high levels of corporate governance can inhibit accrual earnings management in management earnings forecasts,but for real earnings management does not have a significant effect.Based on researching earnings management behavior in earnings forecast of listed companies on the gem,can be used for stock market investors provide a basis for using this kind of information,but also for regulators to strengthen the system of sound and perfect as well as provide a basis for monitoring implementation.This paper also introduced corporate governance,contribute to the richness of this kind of theory.