Research On IPO Earnings Management Issues Of Science And Technology Innovation Board Enterprise

In the relevant research of the securities market,it is found that in order to meet the IPO standards and requirements of the regulatory authorities,achieve successful listing and financing,many enterprises choose aggressive earnings management to beautify the financial performance of the company.On the one hand,this behavior does enable the enterprises to achieve their own goals,but on the other hand,it seriously affects the stakeholders’ understanding of the real situation of enterprise operation.Investors are likely to lose a lot because of the false signals companies send.At the same time,the healthy development of capital market and the efficiency of resource allocation are deeply affected by the quality of enterprise accounting information.The Science and Innovation Board officially opened in June 2019,and the listed objects are mainly high-tech enterprises with strong growth.As the first board in China to implement the registration system of audit system,it is worth studying and paying attention to the new changes in the earnings management of listed enterprises on the Science and Innovation Board.This paper takes Bolus data listed on the Science and Technology Innovation Board in 2020 as an example,uses case analysis and horizontal and vertical comparative analysis to define the system background of the science and Technology Innovation Board and the basic concepts of earnings management.On the basis of combing out the theories related to earnings management,it uses all the accrued profit model and relevant financial indicators to compare with the industry,and analyzes the data of Bolus Data before and after its listing.The analysis shows that Borzoi Data does have earnings management phenomenon before and after listing and has carried out a certain degree of earnings management.On this basis,this paper continues to analyze and summarize the specific earnings management means such as broadening credit policy,increasing gross profit rate and intentionally increasing research and development expenses of Borzoi data.Then it further analyzes the motivation of earnings management of Borzoi Data in order to meet the listing qualification and realize refinancing and the economic consequences after earnings management.Finally,from the perspective of the company itself,this paper further puts forward suggestions on the level of national supervision and investors.The company should optimize its asset management ability and improve its governance structure.The state and relevant regulatory authorities should also continue to improve relevant laws and regulations on information disclosure,and investors should make rational investment according to the analysis of professional institutions.This paper takes Bolus Data,which is listed on the Science and Technology Innovation Board in 2020,as an example.Its typical feature lies in that it is the first listed enterprise that is mainly engaged in monitoring services in China.At the beginning of its listing,it was called "leading APM".Therefore,to explore its earnings management situation has certain reference significance for the same type of listed enterprises in the future,and at the same time enrich the relevant theoretical research of earnings management of listed companies on the Science and Technology Innovation Board,and provide case support.