Study On The Behavioural Choices Of Earnings Management Of ST-Listed Companies In China

In recent years,research on earnings management has been a hot topic in the field of accounting theory.The study of earnings management abroad is earlier than our country and has tended to mature.At present,with the development of our country's economy and the improment of the capital market,at the same time,the number of listed companies also in unceasing increase,thus,the problem of the earnings management of listed companies has become the focus of many scholars studies.The excessive earnings management of listed companies to gloss over financial reports has resulted in serious distortion of financial information,which not only misled investors,but also hindered the healthy development of China's securities market.However,the ST system as a special system of our securities market is in order to give some listed company a buffer before they are delisted.But now we found through the study of many scholars,ST system has deviated from the original intention of establishment,a lot of ST listed companies did not use the buffer period to improve the management,but through the manipulation of the surplus to whitewash statements,to pick the cap.Based on this,this paper choosees the ST listed company as the research object,to study the earnings management behavior of ST listed company,tries to clarify the behavior to alert the general investors,and to help securities regulators to perfect the related system,to curb the earnings management behavior.This paper firstly combed the domestic and foreign scholars on the study of earnings management,mainly is the existence of earnings management behavior and the behavior of earnings management way.Then we discuss the connotation of earnings management and the development of ST system.Secondly,through the analysis of the mechanism of the earnings management behavior of ST listed companies,we choose the sample and constructed models to discuss the specific earnings management behavior of ST company.This paper choose in2014,2015 and 2016 year under two consecutive years of loss ST listed companies and take off the cap next year to research.We know that the ST listed companies are really exist earnings management behavior through the Jones model.followed by using factor analysis method of principal component analysis to verify the ST company earnings managementbehavior,and finally by building models,this paper obtained the ST companies on earnings management,the existing earnings management behavior preference order,the more preference on non-recurring gains and losses for use,and in view of the ST companies earnings management behavior,puts forward some policy Suggestions.Meanwhile the paper points out the innovation of the study,and that is by building the model to verify that ST listed companies do have earnings management behavior.