Dissertation > Excellent graduate degree dissertation topics show

A Study on the Relationship between Venture Capital and IPO Earning Management of Listed Companies on Shenzhen Small and Medium-size Enerprise Stock Board

Author: HuangQiongSi
Tutor: YaoZuo
School: Zhejiang University
Course: Accounting
Keywords: Earning Management Venture Capital Enery Time Shareholding Ratio Director and Supervisor Proportion
CLC: F276.3
Type: Master's thesis
Year: 2012
Downloads: 242
Quote: 0
Read: Download Dissertation

Abstract


This study selectes listed companies that went public from 2006 to 2010 in Shenzhen small and medium-sized board as the research object, using the industry adjustment of the modified Jones model to calculate the sample enterprise DA (discretionary accrual) as the characterization of the earnings management. As a result of the industry model of the sample volume requirements, this study selects only the manufacturing industry (C) and information technology industry (G) as the research objects.With the T-test for earning management, we find that earnings management and zero value have the remarkable difference. That means the year before the enterprise’s IPO, the firm has earnings management behavior. Through multiple regression analysis, we get some results. Venture capital holdings and DA are negatively correlated at the 1% confidence level, showing that the sample enterprises with VC shareholderings have less earnings management, and the venture capital mechanism can play a supervisory role.Venture capital investmenting time and earning management are negatively correlated at 10% confidence level, which means the longer the venture capital investment time is, the lower the earnings management is. Venture capital holdings and earnings management are negatively correlated at 5% confidence level, which means the higher the proportion of VC shareholdings is, the lower the earnings management is. The board of director and supervisor sent out by VC are negatively correlated at 5% confidence level, which means the higher the proportion of VC’board of director and supervisor is, the lower the earnings management is. Venture capital institutions set up time and the size of assets under management does not have the effectiveness of interpretation.At last, we also sugget that we should make great efforts to develop venture capital industry, and to strengthen the information disclosure of venture capital holdings, investment time and the proportion of VC’board of director and supervisor.

Related Dissertations

  1. Studies on the Application of Compound Real-Options in Venture Capital Valuation,F272
  2. Study of the Equity Incentive Utility in Listed Companies,F276.6;F224
  3. High-tech enterprise venture capital exit mechanism,F276.44
  4. Venture capital funds to promote local economic development,F127
  5. Changes and debt restructuring guidelines of the economic consequences,F275
  6. Problems of high-tech SME financing,F275
  7. Research on Development Mode of Venture Capital Institutions of Hubei Province,F832.48
  8. Research and Empirical Analysis on Operation Process of Venture Capital,F830.59
  9. Legal System of Venture Capital Research,D922.28
  10. The Internal Behavior Study of Syndication,F224.32
  11. Researches on the Appraisal and Decision of Venture Capital Project by Technical Economic,F830.59
  12. Research on Mechanisms and Countermeasures of Venture Capital to Promote the Independent Innovation in China,F832.48
  13. Agreement on gambling in the growth of private financing of practical application,F276.5
  14. Shenzhen SME board utility company IPO venture capital research,F224
  15. A Game Model of the IPO Exit Choice in Venture Capital Based on the Different Conditions,O225
  16. The Design and Research of DX Company Salary System for Project Staff,F272.92
  17. The Research on Exiting Mechanism of China’s Venture Capital,F832.48
  18. Research on Moral Hazard of Staged Financing in Venture Capital,F224
  19. The Impact of Venture Capital in the Underpricing of Initial Public Offering,F224
  20. An Empirical Study on Earnings Management of the Listed Companies in China,F275
  21. The Research on the Financial Supportive Environment of Venture Capital about Hebei High-tech Industries,F276.44

CLC: > Economic > Economic planning and management > Enterprise economy > A variety of enterprise and economic > Small and medium-sized enterprises, township enterprises
© 2012 www.DissertationTopic.Net  Mobile