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《The Study of Finance and Economics》 2004-11
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The Contracted Character of Earnings Forecast Deviation and the Research on Earnings Management Behavior of Listed Companies

ZHANG Yan-ling, PENG Hao-ran(Lingnan College, Sun Yat-Sen University, Guangzhou 510272, China )  
The paper researches the influence of earnings forecast deviation on earnings management behavior of listed companies. Starting from the contracted character of earnings forecast in our security market, the paper analyzes the relationship between the earnings management motivation and earnings forecast deviation and tests the earnings management behavior of the company with the negative earnings forecast deviation within 20%. The tests on companies which overestimate earnings but with the overestimated degree not more than 20% about their earnings management behavior will somewhat adjust its earnings by managing discretionary accruals and operation capital in the first year after IPO. The results show that in order to avoid punishment because of earnings forecast error, listed companies have motivation of managing profit.
【Fund】: 中山大学人文社会科学青年研究基金 (桐山基金 )资助
【CateGory Index】: F275
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