XBRL实施与真实盈余管理：基于双重管制的视角.pdf

XBRL Implementation and Real Earnings Management:Evidence from XBRL Dual Regulation in 5 China# * CHEN Songsheng, TONG Xiaoxiao (School of Management and Economics, Beijing Institute of Technology, Beijing 100081) Abstract: In this paper, we test the impact of XBRL (eXtensible Business Reporting Language) on real earnings management using listed firms from Shanghai and Shenzhen stock exchanges over 1998 to 10 2013. We find the level of real earnings management increases significantly after the mandatory adoption of XBRL indicating XBRL complexity makes managers more innovative to manipulate earnings using real activities. Furthermore, we investigate the impact of dual regulation from China Securities Regulation Committee (CSRC) and Ministry of Finance (MOF) on XBRL implementation. The results show that the dual regulation from two different agencies with different XBRL standards 15 increase transition costs and implementation difficulties for most of the listed firms, reflected in the continuous increase of real earnings management and decline of superiority for Big 12 after the occurrence of dual regulation in the process of XBRL implementation in China. Key words: XBRL; Real Earnings Management; Dual Regulation 20 0 Introduction XBRL is an Interactive Data Electronic Application (IDEA) system with a standardized format for preparing financial information, which is aimed to facilitate the communicating and exchanging of f