Research On Earnings Management In High-tech Enterprises IPO Process

Capital market in China is currently in the process of reform and development,should be the fairness and effectiveness has not yet fully formed in the market environment,the outside world for the markets also does not reach the designated position,the supervision of the listed company management based on certain motive of enterprise surplus to achieve the purpose of self-interest maximization.As the main body of science and technology innovation,management innovation and concept innovation,the high-tech industry has great achievements in creating high-precision technology,optimizing industrial structure and exploiting productivity potential.In order to further accelerate the development of high and new technology,we need to introduce the high-tech enterprises involved in the market operation to ensure their healthy growth.In order to further accelerate the development of high and new technology,we need to introduce the high-tech enterprises involved in the market operation to ensure their healthy growth.In order to meet financing needs,improve incentive mechanism and expand market influence,more and more enterprises choose to go public and become listed companies.Faced with the inherent characteristics of high growth,high investment and high profitability,high-tech enterprises will carry out earnings management in order to meet the needs of investors and supervisors.From 2015 to 2017,the securities regulatory commission(CSRC)a total of 1018 enterprises IPO audit application,125 companies were no,including 32 are high and new technology enterprises,the company is no reason for the continued management ability,mostly performance problems.In this paper,the case study is used to analyze the earnings management behavior during the IPO of nep mining company after the theory of earnings management is put forward.The theory of information asymmetry,efficient market hypothesis and contract theory are expounded.Then research the development and IPO status of high-tech enterprises,and the characteristics of high-tech enterprises,the means and reasons of IPO earnings management.In the process of case analysis,the paper firstly introduces the basic situation of the IPO,then analyzes the specific means and motivation of the case IPO earnings management.Draw excessive earnings management will bring adverse effect to the enterprise long-term development,and improve the quality of accounting information is the conclusion of the securities market in urgent need of attention problems,to provide experience for reference to the healthy growth of the IPO companies,regulate the behavior of IPO companies to provide the reference for the government.