Research on the Extraordinary Gains and Losses of Listed Companies in China
|School||Beijing Forestry University|
|Keywords||Listed companies Non-recurring items Information Disclosure Stock price Proposal|
Standardized accounting information disclosure system is to ensure that the securities market fair, just , an important part of the open operation , disclosure of information by outside investors , according to the data analysis of listed companies mainly from the company 's accounting information disclosure requirements must decision-making related to . However, the number of listed companies in China through the regulation of non - recurring items of statements whitewash the behavior of investor judgment and analysis , not only misleading , but also detrimental to the healthy development of the securities market . Therefore , how to effectively regulate the non- recurring profit and loss statements of listed companies to improve the quality of information disclosure in China is also one of the important issues . This article intends to carry out a systematic study of listed companies in China 's non- recurring items , using standard research methods first , a review of the relevant provisions of the non-recurring gains and losses at home and abroad , analysis of previous provisions change , and different accounting rules and norms of non- defined recurring gains and losses were analyzed. Followed in the analysis based on the Shanghai Stock Exchange disclosed the status of the non- recurring items , the incentive to explore a small number of listed companies in the use of non - recurring gains and losses to manage earnings , and select the appropriate sample modeling , empirical research methods found in the annual report of the China-Africa often the profit and loss account for a net profit of more than 20% of the Shanghai Stock Exchange company and its stock price has more significant correlation . Rational investment behavior of stock market investors are expected , effectively curb earnings management of listed companies , and government regulators will develop policies to collect evidence . Finally, the above research , at the micro level , to explore reasonable ways to define , measurement and disclosure of non - recurring gains and losses , put forward some suggestions for improvement of the reference to the nature of the relevant provisions of the country ; at the macro level , the effective information disclosure and social the combination of supporting regulatory policy recommendations , provide useful insights to further improve the information disclosure system of the securities market .