我国资本市场新退市制度与企业盈余管理的实证分析-empirical analysis on the new delisting system of capital market and enterprise earnings management in china.docxVIP

AbstractChinas securities market, starts restoring in the late 1980s, has become an important market in Asia-Pacific region as well as global. However, when comparing with the mature markets, Chinas securities market still has a lot of problems. For example, some companies can stay in the market even though they are on the verge of insolvency. The existences of such companies in the securities market are threatens to the investors. Some listed companies, in order to avoid delisting, deceive investors and regulators by means of earnings management and even financial fraud, which have seriousl