Research On Earnings Management Of Listed Companies In Debt Restructuring

Debt restructuring has an important meaning for the listed companies in the rapid development of China’s current economy. On the one hand, it can reduce the debtors’burden,and improve performance. On the other hand,it will reduce the creditors’economic losses to a minimum.The Debt Restructuring Standards revises twice,and now the new Debt Restructuring Standards which formally issued on February15,2006come into force.So compared with2001’s accounting standard on debt restructuring,how will it influence earnings management of listed companies under the change of2006’s Debt Restructuring Standards.The return of the accounting treatment whether causes the occurrence of earnings management needs to cause our attention.The article will be based on earnings management perspective to study debt restructuring behaviors of the listed companies.The paper is divided into five chapters.Firstly.the introduction is to explain the background of this research,purpose and meaning,and outline the domestic and foreign present research situation,research ideas and research methods.Secondly,introduce the theory analysis about debt restructuring and earnings management.On the one hand.expounds the content of debt restructuring criterion and introduces the way and characteristics of listed companies" debt restructuring behavior. On the othe hand,introduces the basic meaning and motivation of earnings management,and make clear definition of earnings management behavior with debt resturcturing.Thirdly,do empirical study about China’s listed companies to use debt restructuring for earnings management.From five aspects as the corporate business performance,debt ability.corporate governance structure, securities market supervision and audit supervision selectes variables and hypothesis, and screens730listed companies happened debt restructuring in Shanghai and Shenzhen stock exchange a-share market from2008to2010.Through collecting relevant data, constructing model.using descriptive statistics analysis,Pearson correlation analysis and multivariate linear regression analysis to complete empirical test.Finally.summarizes the existing problems of debt restructuring in the implementation,and come up with policy recommendations from five aspects.