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本文研究我国上市公司增发的利润操纵问题。选取机械、设备、仪表行业(C7)200余家上市公司2008～2010年的数据进行分析,采用修正的琼斯模型及加入新变量的修正琼斯模型研究2010年该行业增发上市公司在增发前后的利润操纵情况。研究结果表明,该行业增发上市公司在增发前两年、前一年以及增发当年均存在向上的利润操纵行为,增发后一年不存在利润操纵行为。
This article studies the issue of additional profit control of listed companies in China. The data of more than 200 listed companies in machinery, equipment and instrument industry (C7) from 2008 to 2010 were analyzed. The modified Jones model and the modified Jones model with new variables were used to study the profits before and after the issuance of additional listed companies in 2010 Manipulate the situation. The result shows that the listed companies in this industry have upward profit-manipulation behavior in the two years before the issuance, the previous year and the year of issuance, and there is no profit manipulation in the year after the issuance.