1518 
1418本文以2018—2021年A股IPO公司为样本，构建了PSM-DID模型，实证研究了注册制改革对IPO公司“业绩变脸”的影响。实证检验结果表明，注册制改革显著减少了IPO公司上市后“业绩变脸”，尤其是更为显著地减少了非国有性质IPO公司的“业绩变脸”和经由低声誉会计师事务所审计的IPO公司“业绩变脸”。影响机制检验进一步发现，注册制改革通过引导IPO公司减少盈余管理行为、促进IPO公司提升信息披露质量、降低IPO公司壳价值这三种影响机制，减少了IPO公司上市后“业绩变脸”。研究结果不仅从不同的视角评估了注册制改革的政策效果，还可以为有关部门在推行注册制过程中促进IPO公司提升信息披露质量提供理论依据和决策参考。
注册制改革对IPO公司“业绩变脸”的影响：一个准自然实验
摘要
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引用本文
毛杰, 吴含秋, 许宇鹏. 注册制改革对IPO公司“业绩变脸”的影响：一个准自然实验[J]. 外国经济与管理, 2024, 46(6): 35-49.
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