摘要
通过对业绩预测违规这一特殊违规事项的分析发现,违规而未受到处罚的样本在盈利水平和盈利能力方面显著地高于被处罚的样本,前者亏损的比例、业绩下滑的幅度以及比例显著地低于后者。违规和未违规样本的对比分析则显示,违规而未受到处罚的样本和未违规的样本在上述方面不存在显著差异。由此可见,CSRC对被处罚样本的选择带有一定程度的"选择性偏见"。
With regard to firms violating performance forecast regulations,the unpunished observations' earnings level and profitability are significantly higher than those being punished.The latter are more likely to lose money or have digressive performance.In the other hand,firms violating and not violating performance forecast regulations have no significant difference in the above-mentioned directions.In summary,CSRC has some selection bias in choosing which firms to punish.
出处
《清华大学学报（哲学社会科学版）》
CSSCI
北大核心
2009年第S1期52-60,共9页
Journal of Tsinghua University(Philosophy and Social Sciences)
关键词
业绩预测
违规
处罚
盈利
选择性偏见
performance forecast
violation
punishment
earnings
selection bias
