The Research On The Real Earnings Management And Enterprise Performance

Under the background of the securities regulatory and accounting standards tighter, enterprises nearly adopt the traditional accrued earnings management because it is easy to be identified. Based on this kind of situation, at present, a lot of managers adopt the way of constructing real transactions or events to manipulate the surplus.Through the study of foreign literature in recent years, we know that the companies expand production to reduce the unit product cost and adopt the promotion to increase sales. Because the accrued profit earnings management behavior is easy to be found by auditors and other external supervisors, the enterprises prefer to choose real earnings management. Now the academic circles have the following point of view: positive impact, negative impact and no impact. At present academia has not been a consistent conclusion, based on this, this paper in-depth study.In order to get a more accurate conclusion, this article include real earnings management and decision usefulness of earnings management in accordance with the different properties, respectively, to discuss the impact on corporate performance. we take the A-share listed companies in our country as the research object data from 2008 to 2014. The way of the real earnings management include abnormal production cost, abnormal discretionary expenditure and abnormal cost of sales. For the measure of enterprise performance, this paper use two indicators to market performance and financial performance.Through the empirical analysis, we find that: First, Opportunistic earnings management is beneficial to the current performance evaluation and the companies are more inclined to adopt the way of manipulation of discretionary expenses; Second, under the condition of surplus management of decision usefulness, manipulation of discretionary expenditure and the cost of sales is not conducive to the current performance evaluation. However, through the manipulation of the abnormal production cost is conducive to the current performance evaluation; Third, manipulating exception is disadvantageous to the enterprise of discretionary expenditure performance evaluation in the future and manipulation of the abnormal production cost and the cost of sales is not conducive to enterprise performance evaluation in the future; Last, under the manipulation of the three ways at the same time, the decision usefulness of earnings management behavior in general will promote enterprise performance improvement.Through the study of opportunistic earnings management, we can draw the following Suggestions: being on the market, issuing additional stock and allotment of shares are Is advantageous to the current performance evaluation. But there is no significant impact on long-term performance. If the company wants to continue as a going concern, it should be through the brand image, improve product quality and strengthen propaganda and after-sales service, rather than take a short-term opportunism behavior.Decision-making Earnings management is useful properties of good for performance evaluation and it is beneficial impact on long-term, although the impact of the three ways to corporate performance is different and the overall effect is positive. Therefore putting forward the following suggestions: companies can take decision usefulness earnings management, because evaluation is a positive significance. Company through increasing scientific research expenditure is good for the company’s long-term development and set up the good word of mouth; Product production is determined according to the company size and blindly expanding product quantities to reduce fixed costs is limited. The company should plan systematic expansion; If company is through the methods such as reduction, consumers will cause doubt about the quality of products, reducing their loyalty of band.