IPO公司利润质量影响因素的实证分析

摘要

在我国资本市场为弱势有效性市场的前提下,运用因子分析法,Logistic回归模型对影响IPO公司利润质量的因素进行了实证分析.分析结果表明每股经营现金净流量,税后利润增长率对IPO公司的利润质量有显著的正向影响,流动比率,速动比率,资产负债率,每股现金比率对IPO公司的利润质量有显著的负向影响,而存货周转率,扣除非经常性损益后的净利润,营业利润率,每股收益,净资产收益率对利润质量的影响不显著.%Based on regarding the capital market as the weak form market, this paper analyzes the factors which influence the profit quality of IPO companies. The results show that net operating cash flow per share and after - tax profit growth rate have a significant positive influence on the profit quality of IPO companies; current ratio, quick ratio, debt ratio and cash ratio have a significant negative influence on the profit quality of IPO companies; inventory turnover, net profit excluding non-recurring profit, operating profit ratio, earning per share, accounts receivable turnover and return on net asset have no significant influence on the profit quality of IPO companies.