Real economic consequences of financial statement format adjustment:a quasi-natural experiment based on the item of"gains and losses on asset disposal"
Since 2017,the item of"gains and losses on asset disposal"has been added to the profit statement in China,which reflects"operating profit"besides the original items of"non-operating revenue and expenditure".This paper empirically examines the real economic consequences of financial statement format adjustment in the enterprises'asset disposal behavior through the quasi-natural experiment.It finds that after the appearance of the item of"gains and losses on asset disposal",the enterprise's asset disposal behavior decreases significantly,and both the gains and losses on asset disposal show a significant decreasing trend.The above conclusions are still valid after a series of robustness tests.The research result also reveals that the effect is mainly achieved by restricting the real earnings management behavior of enterprises,and it is mainly concentrated in the"top ten"sample company group.In the perspective of improving accounting information disclosure system,the paper provides empirical evidence and practical reference for standardizing the asset disposal behavior of enterprises.
financial statement format adjustmentsalience effectgains and losses on asset disposalreal earnings management
NETL
NSTL
万方数据
