Research On The Influence Of Earnings Management Motivation On The Capitalization Of R&D Expenditure Of Listed Manufacturing Companies

Science and technology innovation has been included in the 13th five-year Plan of Science and Technology Innovation,the innovation of science and technology will lead the development of the times,the first battle for China to become a world power is to break through the original technical barriers.The realization of real Chinese manufacturing.Today's society is not only the economic era,but also the age of science and technology.In the environment of high-profile R&D investment,the competition among enterprises has changed from "resource war" to "innovation war",which virtually emphasizes the importance of enterprise R&D.In order to obtain the chance of survival and development in the fierce market competition,enterprises,especially manufacturing enterprises,must rely on the strength of enterprise innovation.To win the recognition and respect of the market,innovation cannot be separated from investment in R&D.The more investment it is,the more likely it will be that the scientific and technological achievements will be transformed.The more likely it is to maintain the core competitiveness of enterprises,the more likely the accounting standards of Intangible assets have supported the research and development of enterprises in terms of accounting policies,and have adopted a capitalized accounting treatment method that meets the conditions for R&D expenditure.However,because the criterion of "satisfying certain conditions" has not made an accurate definition according to the industry or according to the industry and the type of enterprise,the fuzziness of the concept provides the maneuverability space for the earnings management behavior of the enterprise.This kind of choice may become the profit of the enterprise.One of the means of management,but the motivation of enterprise managers is the focus of this paper.On the basis of drawing lessons from and summarizing previous studies,the research object is the company whose R&D expenditure capitalization amount is not zero in the current period of all a-share manufacturing listed companies in China from 2013 to 2017.According to the possible earnings management motivation of listed manufacturing companies,it is divided into profit sample and loss sample based on the relationship between return on equity and zero.Then,through empirical analysis,the earnings management motivations of the two samples are tested empirically,and it is found that different earnings management motivations will lead to different accounting treatment methods,and it will play a role in the capitalization amount and intensity of R&D expenditure.The research method of dividing samples can clearly find that the capitalization amount of R&D expenditure will change with the change of earnings management motivation,and when the profitability is different,the motivation of earnings management is also different.For the whole sample,there was a significant negative correlation between the earnings management motivation of profit smoothing and compensation contract and the capitalization intensity of R&D expenditure,and a significant positive correlation between the earnings management motivation of debt contract and the capitalization intensity of R&D expenditure.For the sub-samples,the results were consistent with the regression results of the whole sample except the positive correlation between the motivation of stock placement and the capitalization intensity of R&D expenditure.