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| The Impact of the Additional Deduction Policy on the Real Earnings Management Behavior of Listed Companies —Based on the Perspective of R&D Manipulation |
| He Yanan, Yang Ziqiong, Hao Panpan |
| School of Accounting,Shanxi University of Finance and Economics,Taiyuan 030006,China |
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Abstract This paper examines the impact of R&D expenses additional deduction policy on real earnings management behavior from the perspective of R&D manipulation,taking China's A-share listed companies from 2008 to 2018 as a sample.The results show that,to a certain extent,this policy will cause enterprises to increase abnormal R&D expenses for real earnings management,showing upward R&D manipulation.The further study found that when the proportion of R&D expenses additional deductions increased in 2018,the degree of enterprises' upward manipulation of R&D expenses increased.After distinguishing whether abnormal R&D expenses are greater than zero,the effect of the additional deduction policy is more complicated.For enterprises with abnormal R&D expenses greater than zero,this policy exacerbated their upward R&D manipulation,while for enterprises with abnormal R&D costs less than zero,the degree of artificial reduction of R&D expenses is restrained which was showing a positive policy effect.In addition,compared with high-tech enterprises,non-high-tech enterprises have a stronger degree of upward R&D manipulation.The conclusions of this article can provide some references for the government to improve the policy of R&D expenses additional deduction,and ensure that the policy really stimulates the innovation activities of enterprises.
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Received: 20 November 2020
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2021, Vol. 2 
