Research On The Impact Of Earnings Management Of Listed Companies In The Growth Period On Corporate Value

At present,China's market is in a weak or semi-strong and effective standard.In this market environment,the information asymmetry caused by the separation of the two powers of the enterprise,the policy flexibility in the macro context,and the limitations in the internal and external auditing process all give room for earnings management growth.Managers use earnings management to regulate reporting data,which in turn affects business development.After 1990,earnings management gradually spread in the field of empirical research.The impact on corporate value is mainly concentrated on the management of accrued project earnings,and less analysis of the impact of real-life earnings management on corporate value.Based on the premise of the growth period of the enterprise,this paper studies the impact of earnings management on enterprise value,and is conducive to perfecting the theoretical study of life cycle,enterprise value and earnings management,and promoting the transformation of accounting theory into accounting practice,and provide reference for stakeholders to make investment decisions.The two different methods of earnings management adopt different models,respectively derive their respective degree of earnings control,bring in the established model,and test the impact of accrued project earnings management on enterprise value,and the impact of real activity earnings management on enterprise value,and the impact of integrated earnings management on corporate value.The study found that the long-term listed companies use the earnings management to adjust the statements;their accrued earnings management is positively correlated with the enterprise value;their real earnings management is negatively correlated with the enterprise value;their comprehensive earnings management is negatively correlated with the enterprise value.In view of the reasons,motives and advantages and disadvantages of earnings management,the public should promote law enforcement departments to improve the supervision system.Independent directors and owners should strengthen their supervisory responsibilities.Other stakeholders should change their thinking and enhance their ability to recognize.