Research On Earning Management Before And After IPO Of Listed Companies On Gem

In 2009 is listed on the gem in China,the sign of further perfecting the multi-level stock market system in China,because of the growth enterprise market,low barriers to entry,attracted a large number of small and medium-sized enterprises are listed,but there are still a large number of enterprises could not reach the requirements of the market,so the earning management as an important means,and was used by these enterprises.Due to the growth enterprise market,the stock,will show the good performance before the public,and after listing,the phenomenon of the performance significantly,and cost a lot of investors as well as for more effective market resources allocation and regulation,in order to explore the reasons for this phenomenon is related to the enterprise earning management,this article after consulted a large number of related literature at home and abroad,through the analysis of earnings management theory,and apply to join Jones model of operating activities cash flows for the enterprise to measure the degree of earnings management,and through the regression analysis and validation of earnings management and the performance of the relationship between the theoretical and empirical combination of methods,to verify the gem of enterprise performance and the relationship between the earnings management.In this paper,the main structure is as follows: according to the research status at home and abroad,and combining the entrepreneurial market conditions,it is concluded that the main research question,this article first to the domestic and foreign related research literature review,summarizes the research status of listed companies earnings management before and after the problem at home and abroad and the study of earnings management econometric model,after the characteristics of the gem listing conditions are introduced,and expounds the theoretical basis of earnings management and the means of listed companies earnings management.On the basis of this,the related hypotheses are put forward: first,there is a positive earnings management before the company goes public.Second,the phenomenon that the gem companies appear in the ipo process has a big change,the performance of the enterprise has been linked to the earning management.According to a 2014 51 companies listed on the gem,to empirical analysis on the data from 2012 to 2016,to join the business activities of cash flow modified Jones model,to measure the degree of earnings management of the enterprise,and the return on net assets on behalf of the enterprise performance as the dependent variable,in handling accrued profit represents the degree of earnings management of the enterprise,to carry on the regression analysis,through the empirical results concluded that the proposed assumptions are verified according to the conclusion put forward Suggestions,in order to reduce the enterprise earnings management phenomenon,reduce the loss of investors,should strengthen the audit supervision,improve the professional quality of certified public accountants,to strengthen the audit of IPO companies,perfecting the accounting standards for enterprises and enterprise's internal governance structure and information disclosure system,which is the growth enterprise market and orderly development.