Study On The Influence Of Earnings Management On The Performance After Getting Rid Of Special Treatment

Economic globalization and the development of market economy make the capital market of our country grow and perfect continuously.At present,there are more than 3600 listed companies in A-share market,but the rapid development is accompanied by problems.Earnings management is a comm on phenomenon in Chinese listed companies,and it is a double-edged sword.ST system is a unique supervision system for listed companies in our country.As a special existence,the removal of ST company's hat often leads to many investors to follow the trend of investment.The real performance level of ST company after removal of hat has become the focus of our attention.Therefore,this paper will study the impact of different earnings management on ST company's financial performance and market performance after capping.Firstly,this paper clarifies and analyses the research background and significance of the article.In the theoretical basis part,it explains the implementation means and measurement methods of real earnings management and accrued earnings management.The motivation of earnings management,real carnings management,accrued earnings management,enterprise performance evaluation and ST system are summarized and summarized by domestic and foreign scholars.Selecting ST companies that successfully removed their hats from 2007 to 2015 as samples,the financial data of the year and the two years after the removal of hats were collected,descriptive statistics,correlation analysis and linear regression were made on the data.Through empirical research,the future performance of enterprises(financial performance and market performance)of real earnings management(discretionary cost control,sales control,production cost control)and accrued earnings management were studied.Finally,the following conclusions are drawn:ST capping companies use real earnings management and accrued earnings management to regulate their current profits;sales manipulation and accrued earnings management in real earnings management have a positive impact on the current and future financial performance of ST capping companies;discretionary cost manipulation an d production cost manipulation have a negative impact on the future financial performance of ST companies;True earnings management and accrued earnings management are beneficial to the short-term market performance evaluation of ST companies after taking off their hats,and unfavorable to the future market performance evaluation;enterprises prefer to use discretionary cost manipulation,sales m anipulation and accrued earnings management to manipulate net profit income in real earnings management;through empirical conclusions,this paper puts forward corresponding suggestions on strengthening the internal management and external monitoring of enterprises.The countermeasures and suggestions are to reduce the earnings management behavior of ST company,so as to realize capping as soon as possible.