The drivers, consequences and policy implications of non-GAAP earnings reporting
The drivers, consequences and policy implications of non-GAAP earnings reporting
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非公认会计准则收益报告的驱动因素、后果和政策影响
DOI：
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发表时间：
2014
期刊：
影响因子：
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通讯作者：
S. Young
中科院分区：
文献类型：
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作者：
S. Young
非公认会计原则（GAAP）（预估）收益在公司业绩报告叙述中日益重要。本文回顾了围绕管理层非公认会计准则盈余报告的学术和专业辩论。我认为，对定制绩效报告的需求是对“一劳永逸”的报告系统所施加的限制的自然反应，而非公认会计准则现象是长期以来关于定期绩效的定义和呈现的争论的一部分。对现有研究的回顾表明，非公认会计准则披露是由信息报告和机会主义动机驱动的。不透明的非公认会计准则收益报告与收益错误定价有关，尤其是在不成熟的投资者群体中。旨在确保透明度的法规和治理体系与更高质量的披露和更少的错误定价有关。虽然定制报告行为在许多情况下都很明显，但我认为，这种披露在财务报告环境中会产生特殊风险，因为它们威胁到基础报告系统的完整性。审查了现行的监管方法，并强调了限制披露透明度的因素。文章最后提出了进一步研究的建议。
Non-generally accepted accounting principles (GAAP) (pro forma) earnings form an increasingly important part of firms’ performance reporting narrative. This paper reviews the academic and professional debate surrounding non-GAAP earnings reporting by management. I argue that the demand for customised performance reporting is a natural response to constraints imposed by a one-size-fits-all reporting system and that the non-GAAP phenomenon forms part of a long-standing debate over the definition and presentation of periodic performance. A review of extant research suggests non-GAAP disclosures are driven by informative reporting and opportunistic motives. Opaque presentation of non-GAAP earnings is associated with earnings mispricing, particularly among unsophisticated investor groups. Regulations and governance systems designed to ensure transparency are associated with higher quality disclosures and less mispricing. While customised reporting behaviour is evident in many settings, I argue that such disclosures create particular risks in a financial reporting context because they threaten the integrity of the underlying reporting system. Prevailing regulatory approaches are reviewed and factors limiting disclosure transparency are highlighted. The paper concludes with suggestions for further research.