Research On Earnings Management Of Medical Examination Industry Under “PE + Listed Company” Mode

The medical examination industry,as the prevention end of disease medical treatment and the entrance end of the health industry chain,is continuously developing on a large scale,regularization and industrialization.Behind the explosive growth of the preventive health checkup market,its essence is an incremental game.All major private checkup companies are facing insufficient funds,and their outlets are limited to the dilemma of first and second-tier cities.In this context,a group of companies represented by Meinian Onehealth Healthcare has taken the lead in adopting a new model of "PE + listed companies" M & A funds.This model has the advantages of high merger and acquisition efficiency,obvious synergistic effects,and lockout of exit channels.But at the same time,what role does this model play in medical examination enterprises? Does it provide a new financing channel,promote the company's layout to sink to third-and fourth-tier cities,or provide an opportunity for companies to manipulate the scope of consolidated statements for earnings management?This article first sorted the literature on earnings management motivations,measurement methods and approaches by reading relevant literature,and introduced three theoretical foundations for this article research.They are the theory of signal transmission,the criteria for the scope of consolidated financial statements,and the extended Jones model.In the third part of the case introduction,this article selects the leading company in the A-share medical examination industry,Meinian Onehealth Healthcare,as the case study object.First of all,a comprehensive introduction to Meinian Onehealth Healthcare is introduced from the history of Meinian Onehealth Healthcare and the equity structure,and the "PE + listed company" M & A fund established by it is introduced,including its "first participation and then control" model and M & A.Fund operating logic.In the fourth part of the case analysis,this article first determines the suspicion of earnings management of Meinian Onehealth Healthcare based on the results of the Jones model.It then collects and analyzes the financial data of Meinian Onehealth Healthcare from the backdoor of Jiangsu Sanyou in 2015 to the mid-2019 report Based on this analysis,the motivations of Meinian Great Health's earnings management are analyzed,and then this article analyzes and concludes that Meinian's Health conducts earnings management by excluding the goodwill of the listed part,the loss of stores that are not included in the scope of consolidated statements and related transactions Finally,it analyzes the financial and non-financial impact of Meinian's Health Earnings Management.It was found that its earnings management increased the profit of returning mothers,beautified the financial statements,and helped Meinian to fulfill its performance commitments since listing,but the losses of the non-listed system were not reflected,which seriously harmed the interests and impact of small and medium investors.This has affected the true usefulness of financial statements and affected the lives and safety of the people.Finally,this article summarizes the case and puts forward the following three suggestions: the government should adjust the supervision policy of "PE + listed company" type investment funds;further improve the accounting standards related to the scope of consolidated financial statements;and increase the cost of violations by accounting firms.