１０１３９
分类号：学校代码：
C
学号：２０１８２１０２８２UD ：
＂
I ｛t ＾
｜
c c
会计硕士（MPA ）
学位论文
题目：新收入准则对业绩承诺激励效应的影响研究
—以巨人网络借世纪游轮为例
壳
门类：专业硕士（MPAcc ）
学科
研究方向：财务管理
研究生：焦学敏
指导教师：兰秀文
称：教授
职
二〇二〇年六月
独创性（或创新性）声明
本人声明所呈交的论文是本人在导师指导下进行的研宄工作及取得的研究成果。
除了文中特别加以标注和致谢中所罗列的内容以外，论文中不包含其他人已经发表或
一
撰写过的研宄成果。与我同工作的同志对本研宄所做的任何贡献均己在论文中作了
一
明确的说明并表示了谢意。申请学位论文与资料若有不实之处，本人承担切相关责
任。
学位论文作者签名：曰期：２０２０年６月２日
关于论文使用授权的说明
学位论文作者了解内蒙古财经大学有关保留和使用学位论文的规定，即：研究生
在校攻读学位期间论文工作的知识产权单位属内蒙古财经大学。学校有权保留并向国
？
家有关部门或机构送交论文的复印件和磁盘，允许学位论文被查阅和借阅，学校可以
、
公布学位论文的全部或部分内容，可以允许采用影印缩印或其它复制手段保存、汇
编学位论文。（保密的学位论文在解密后遵守此规定）
。
保密论文注释：本学位论文属于保密在年解密后适用本授权书非保密论文
注释：本学位论文不属于保密范围，适用本授权书。
学位论文作者签名：指导教师签名：
２００６２
日期：２０２０年６月２日日期：２年月日
摘要
随着中国经济的快速发展，尤其是在“一带一路”倡议提出之后，我国企业
面临着越来越严峻的竞争形势。而并购重组通过产权转让的形式，可以使企业短时间
内置入优质的资产，拓展企业原有经营业务范围及规模，快速实现战略转型。因此，
并购重组在企业核心竞争力的提升上可以发挥不小的作用，还可能为企业开拓更加光
明长远的发展方向。尤其在最近这几年内，为了完成产业转型升级，响应供给侧结构
性改革，并购重组交易迎来了爆炸式的增长。然而，并购重组在推动我国快速发展的
同时却使众多投资者的利益受损，为了防止交易价格被控股人、实际控制人或者其他
关联方以收益法恶意操纵资产评估，进而达到输送利益获取非正常收益的目的，业绩
承诺开始被广泛应用。但是，在业绩承诺的执行中，为了避免高额的业绩补偿，管理
层并未从根本上提升企业业绩，而是通过盈余管理、利润操纵甚至是财务造假来完成
业绩承诺，损害投资者的利益。我国财政部在2017年7月发布了新收入准则。因此，
以巨人网络借壳世纪游轮为例，研究新收入准则是否能够促进业绩承诺，发挥激励管
理层的作用，提升企业的业绩，具有一定的理论意义与现实意义。
本文采用案例分析法，以巨人网络为例，分析了新收入准则下企业收入会计处理
对业绩承诺激励效应的影响，进一步通过业绩承诺期间的财务效应与市场效应来反映
业绩承诺的激励效果。通过分析发现我国新收入准则采用统一的收入确认模型，在实
际应用中增加大量会计估计内容，与此同时也给予企业更大的自由度；对于有业绩承
诺压力的标的企业来说，在当下高溢价高业绩承诺盛行的大环境下企业管理层很可能
会利用准则的弹性采用对自己有利的判断、有利的估计来实现业绩承诺，不利于调动
管理层努力工作的积极性。新收入准则中增加的会计估计内容为标的企业留有通过会
计职业判断来增加营业收入完成业绩承诺的机会，不利于业绩承诺激励效应的发挥；
单一净利润指标衡量业绩承诺为标的企业提供了通过收入准则赋予的自由裁量权来
增加营业收入完成业绩承诺的机会，抑制了业绩承诺激励效应的发挥。
为了促进业绩承诺发挥激励作用，新收入准则应该完善会计估计的规范、完善收
入信息披露相关的规则、制定更加详细的收入确认指南，降低会计人员的自由裁量权；
业绩承诺也应该引入非利润指标的应用；增加业绩承诺期限；加强关于标的企业的信
息披露、加强针对业绩承诺的监管力度；促进业绩承诺发挥积极的激励作用，提升标
的企业的业绩、增强标的企业的整体竞争力。
关键词：新收入准则收入确认业绩承诺激励效应
ABSTRACT
With the rapid development of Chinese economy,especially after the
initiative of "Belt and Road"is put forward,Chinese enterprises are facing
more and more severe competition situation.And M &A through the form of property
transfer,can make enterprises put in high-quality assets in a short time,expand the original
business scope and scale of enterprises,and quickly achieve strategic transformation.
Therefore,M &A can play a significant role in enhancing the core competitiveness of
enterprises,and may also open up a brighter and longer-term development direction for
enterprises.In recent years,in particular,mergers and acquisitions have exploded in
response to supply-side structural reforms to complete industrial transformation and
upgrading growth.However,while promoting the rapid development of China,M &A and
reorganization have damaged the interests of many investors.In order to prevent the
transaction price from being maliciously manipulated by the controlling party,the actual
controller or other related parties by the income method,and then achieve the purpose of
conveying benefits to obtain abnormal income,performance commitment has been widely
used.However,in the implementation of performance commitments,in order to avoid high
performance compensation,management does not fundamentally improve the performance
of enterprises,but through earnings management,profit manipulation and even financial
fraud to complete the performance commitment,to the detriment of investors.Our
Ministry of Finance released a new one in July 2017Income guidelines.Therefore,taking
the giant network backdoor century cruise ship as an example,it has certain theoretical and
practical significance to study whether the new revenue criterion can promote the
performance commitment,play the role of motivating management,and enhance the
performance of enterprises.
This paper uses the case analysis method,taking giant network as an example,
analyzes the influence of enterprise income accounting treatment on the incentive effect of
performance commitment under the new income standard,and further reflects the incentive
effect of performance commitment through the financial effect and market effect during the
performance commitment period.It is found that the new revenue standard of our country
adopts the unified revenue recognition model,which adds a lot of accounting estimation
content to the practical application,at the same time,it also gives the enterprise more
freedom;for the target enterprise with the pressure of performance commitment,in the
current high premium high performance commitment prevailing environment is likely to
use the flexibility of the standards to use their own advantages Judging,favorable
estimates to achieve performance commitments are not conducive to mobilizing the
enthusiasm of management to work hard.The added accounting estimate in the new
income standard is that the target enterprise has the opportunity to increase the
performance commitment by accounting professional judgment,which is not conducive to
the exertion of the incentive effect of the performance commitment;the single net profit
index measuring the performance commitment provides the target enterprise with the
opportunity to increase the performance commitment through the discretion granted by the
income standard,and inhibits the performance commitment incentive effect.
In order to promote the performance commitment to play an incentive role,the
new revenue standard should perfect the standard of accounting estimate,perfect the rules
related to income information disclosure,formulate more detailed income recognition
guide,reduce the discretion of accountants;the performance commitment should also
introduce the application of non-profit indicators;increase the performance commitment
period;strengthen the information disclosure on the target enterprise,strengthen the
supervision of the performance commitment;promote the performance commitment to
play a positive incentive role,improve the performance of the target enterprise,enhance
the overall competitiveness of the target enterprise.
KEY WORDS:New Income Criteria Revenue recognition Performance pledges
Incentive effect