IPO審查階段的公司盈餘管理初探：以中國大陸之國營企業及民營企業之比較為例

• Main Author: Takashi Miura
• Language: 英文
• Published: 國立政治大學
• Subjects: Earnings management; State-owned enterprise; Non-state-owned enterprise; IPO market; Property plant and equipment; Long –term debt; Account receivable
• Online Access: http://thesis.lib.nccu.edu.tw/cgi-bin/cdrfb3/gsweb.cgi?o=dstdcdr&i=sid=%22G0103258042%22.

This study investigates an appropriate accrual-based model in detecting earnings management (EM) of Chinese firms undergoing initial public offering (IPO) process. The mainstream literatures show that state-owned enterprise (SOE) has involved with less earnings management (EM) than non-state-owned enterprise (NSOE) in pre-IPO market from 2003 to 2009. The reason is that SOE could borrow money from bank, compared to NSOE. However, SOE has been proven to conduct stronger EMs in pre-IPO market during 2011 to 2013 by manipulating with property plant and equipment (PPE), the flows of account receivable (AR) and long-term debt (LTD). Besides, I also suggest a new accrual-based model that could better fit into the unique features of Chinese firms in their process of IPO application.