Research On The Impact Of Typhoon Disasters On Earnings Management Of Listed Manufacturing Companies

In recent years,the frequent occurrence of natural disasters has caused a huge impact on the macro economy and micro enterprises.China,with its vast territory and complex geological conditions,is one of the countries most seriously affected by typhoons in the world.Researches on typhoon disasters have always been a hot topic of scholars' attention.However,according to the published literature studies,most scholars focus on the macroscopic impact of typhoon disasters and lack of attention on the impact of disasters and micro-enterprises.However,as the micro main body of macro economy,enterprises are more and more severely affected by typhoon disaster,and such disaster impact will increase the motivation of enterprises to adopt earnings management.The manufacturing industry is the lifeblood of a country.Because of its own physical equipment is difficult to move and the close correlation of enterprise supply chain,the manufacturing industry is often in the first place in terms of typhoon losses.In this paper,2618 listed manufacturing companies in Shanghai and Shenzhen A-shares from 2012 to 2016 were selected as the initial samples,and an empirical study was conducted.The results show that there is a positive correlation between typhoon disaster and earnings management of listed manufacturing companies.The significant correlation between typhoon disaster and resource processing industry,machinery and electronics manufacturing industry,light textile industry and other manufacturing industry decreased in turn.In order to make the empirical results more intuitive and clear,this paper selected Guangzhou Baiyunshan Pharmaceutical Group Co.,Ltd.,a typhoon-hit company,as the case company,and made a detailed analysis on the degree of its real earnings management and its specific means.Finally,the government subsidy should be the auxiliary support;Government and enterprises should jointly work on post-disaster recovery;The enterprises need to carry out the policy suggestions in three aspects according to their own characteristics.