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本文以我国的373家配股上市公司为样本,检验了关联购销、支持与盈余管理的关系,发现控股股东在配股前利用关联购销支持公司,调高业绩,因而这种支持很可能属于盈余管理行为。另外还发现,关联购销与可操纵性应计利润、线下项目负相关,且关联购销与线下项目的负相关关系在有配股盈余管理动机的公司更显著。
Based on the sample of 373 listed companies in China, this paper examines the relationship between purchase and sale, support and earnings management. It finds that the controlling shareholder can increase the company’s performance by buying and selling related companies before the share placement. Therefore, this kind of support is likely to belong to earnings management . In addition, it is found that the related purchase and sale are negatively related to discretionary accruals and offline projects, and the negative correlation between the associated purchases and sales and offline projects is more significant in the companies with the motivation of rights issue.