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《Securities Market Herald》 2013-10
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Initial Classification of Financial Assets and Earnings Management of Listed Companies

Zhang Huili;Zheng Liuming;  
The new accounting standards, which are implemented on January 1, 2007 and provide management more choices,prescribe that the initial classification of financial assets should be divided into trading or available-for-sale financial assets on the basis of managers' holding intention. From the point of discretionary accruals and corporate performance, this paper studies the characteristics of companies with higher ratios of available-for-sale financial assets, and further examines their economic consequences. We find that the higher discretionary accruals and the poorer performance the company has, the more likely it is to classify the financial assets as available-for-sale, and the higher possibility it is to achieve small profits. This study concludes that initial classification of financial assets under current guidelines may become a new approach for listed companies to implement earnings management.
【Fund】: 国家自然科学基金青年项目(批准号71202030);; 教育部人文社会科学研究青年基金项目(12YJC630287)的资助
【CateGory Index】: F832.51;F272
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