The Impact Of Non Monetary Assets Exchange On The Performance Of Listing Corporation

Along with the economic development and asset exchange business,the enterprises of non monetary assets exchange of business become more and more frequent,to standardize enterprise of non monetary assets exchange behavior,the Ministry of Finance in 1999 published for the first time accounting standard of exchange of non monetary assets,the introduction of fair value measurement attributes,and in 2001 on the non monetary assets standards were revised,with historical cost instead of fair value measurement,and in 2006 the rule was revised again,the revised guidelines reintroduction of fair value measurement attribute.The three amendment standards not only redefines the scope,the exchange of non monetary assets concept,change the the calculation method of assets and business transactions as the measurement attribute of high-profile changes,the background changes in the accounting standards of enterprises,what is the exchange manipulation of accounting profits the use of non monetary assets,or the reasonable application of accounting rules,the exchange of non monetary assets used in the correct behavior,such as improving performance,optimizing the allocation of resources has become a hot topic,therefore,of the non monetary assets exchange research related issues on improving the capital market,to maintain the normal operation of the market,to enterprise's healthy development has important significance.This paper selects 2008-2014 implementation of non monetary assets exchange of Shanghai and Shenzhen A-share listed companies as the initial sample,the listed companies in the descriptive statistics of non monetary assets exchange strength and business performance based on and comparison of listed companies non monetary assets exchange a year ago profit or loss of the exchange whether there are differences in strength,to analyze the listed companies of non monetary assets exchange motivation.Listed companies for the study of non monetary assets exchange impact on business performance,this paper further analyses the non monetary assets exchange behavior of listed companies operating performance and the level of no non monetary assets exchange of operating performance of listed companies,specific conclusions are as follows:(1)there was a stronger incentive for non monetary assets to exchange for non monetary assets in the previous year's earnings before the exchange of non monetary assets in the listing Corporation than in the previous year.(2)Listing Corporation's non monetary assets exchange behavior is positively related to the corporate performance,the greater the non monetary assets exchange intensity,the higher performance of the listing Corporation's assets operating performance,the listed companies through non monetary assets exchange behavior adjustment of capital structure in an enterprise,strengthen assets operation efficiency and improve the business performance.2006 criterion revision of specification the conditions for the use of fair value measurement attribute,improve the reliability of accounting information,but the listed company may still make use of standards in non monetary assets exchange gains and losses,commercial substance judgment and involving the money of the top 25%of regulations of earnings management and profit manipulation.Therefore,it is particularly important to improve the relevant provisions of the exchange of non monetary assets.Based on the above analysis,proposed related suggestions:strengthen the facing financial difficulties of the listed company's economic support,correct guidance of listed companies to carry on the exchange of non monetary assets,listed companies to enhance self regulatory mechanism;strengthen the government's supervision,supervision mechanism.