Under the knowledge economic environment, the competitiveness of enterprises is mainly an innovative competition, particularly in high-tech enterprise. Company actively engaged in R & D activities, leading to rapid increase in R & D expenditures. In 2007, the new accounting standards stipulated that corporate spending on independent research and development activities can conditionally capitalized, which brought the listed companies space in earnings management. Selected 45 high-tech industries listed companies and through three indexes of discretionary accruals, manage costs and R & D expenditures, the article study whether there are listed companies utilizing R & D expenditures to engage in earnings management. By analyzing the specific way of using R & D expenditures to manipulate profit margin, the article concluded that the listed companies do have a behavior of using R & D expenditure to engage in earnings management.
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