Financial Analysts Journal·VOL72,NO.1·January/February 2016.

盈利歪曲

作者：Ilia Dichev(Goizueta Business School, Emory University, Atlanta), John Graham (Fuqua School of Business, Duke University; National Bureau of Economic Research), Campbell R. Harvey (Fuqua School of Business, Duke University; National Bureau of Economic Research), Shiva Rajgopal (Columbia Business School, Columbia University)

摘要：作者对近400位首席财务官进行了一项关于盈利质量定义和驱动因素的调查，重点关注盈利歪曲的普遍做法以及对此的觉察。访者认为，盈利质量的标志是可持续性、缺乏一次性项目并能得到实际现金流量的支持。不过，他们也认为，在任何给定时期，即使在遵守公认会计准则的情况下，也有20％的企业故意歪曲盈利。失实陈述的严重程度很大：占到报告收入的10％。

The Misrepresentation of Earnings

Ilia Dichev(Goizueta Business School, Emory University, Atlanta), John Graham (Fuqua School of Business, Duke University; National Bureau of Economic Research), Campbell R. Harvey (Fuqua School of Business, Duke University; National Bureau of Economic Research), Shiva Rajgopal (Columbia Business School, Columbia University)ABSTRACT

The authors conducted a survey of nearly 400 chief financial officers on the definition and drivers of earnings quality, with an emphasis on the prevalence and detection of earnings misrepresentation. The respondents believe that the hallmarks of earnings quality are sustainability, absence of one-time items, and backing by actual cash flows. However, they also believe that in any given period, a remarkable 20% of companies intentionally distort earnings, even while adhering to GAAP. The magnitude of the misrepresentation is large: 10% of reported earnings.

原文链接： http://dx.doi.org/10.2469/faj.v72.n1.4

翻译：赵胜旺