Do firms use the recognition of deferred tax assets to manage earnings: Evidence from European Union and China after their Adoption of IFRS
- 2009年第2卷 
本文以国际财务报告准则（IFRS）趋同下所得税会计准则在欧盟及中国上市公司的第一年实施情况为背景，研究并证明欧盟及中国上市公司均在一定程度上利用递延所得税资产确认进行避免利润下滑的盈余管理。其中，中国上市公司递延所得税资产确认具有可操纵应计利润之外的增量作用，欧盟上市公司则具有线下项目可操纵性应计项目之外的增量作用。但在避免亏损的盈余管理中，欧盟及中国上市公司递延所得税资产确认均未存在这种增量作用。进一步研究发现，中国上市公司递延所得税资产确认的盈余管理与市场监管动机相关，与债务契约、管理层薪酬激励无关。本文研究结果表明，IFRS趋同下所得税会计准则在欧盟及中国上市公司的实施效果已经具有一定程度的等效性，但其财务报告质量还受到特定制度环境因素影响。This paper examines whether firms in European Union (EU) and China have used the recognition of deferred tax assets to manage earnings, using data after the adoption of new income tax accounting standards that converged to International Financial Reporting Standards（IFRS）. We find evidence of earnings management to avoid earnings decreases. Specifically，we find that, Chinese firms use the recognition of deferred tax assets, except discretionary accruals, to increase profits，while EU firms increase profits using the recognition of deferred tax assets except discretionary accruals for under-line items. But as to the earnings management to avoid losses，there is no such evidence for EU and Chinese firms. We further find that the recognition of deferred tax assets by Chinese firms is influenced by market regulations，but it is not related to debt contracting and compensation contracting. Our results also show that the adoption of the income tax accounting standards has similar effect on EU and Chinese firms. However，the financial reporting quality may still differ due to specific institutional factors.