会计学院知识库

As the Chinese economy develops rapidly, the importance of accounting information in the capital market has become increasingly prominent. However, under the current system of performance forecasts for listed companies in China, the phenomenon of "earnings surprises" is not uncommon, which has brought many negative impacts on the capital market. Therefore, it is particularly important to conduct in-depth research on the motives and means behind such earnings volatility. Earnings management, as an important means for listed companies to legally embellish their performance, may have a significant impact on corporate performance. In recent years, the increasingly complex internal and external environment of the Chinese securities market and companies has led to frequent "earnings surprise" phenomena in listed companies' performance forecasts. This phenomenon can harm the rights and interests of investors, reduce the effectiveness of performance forecasts, and also undermine the credibility and seriousness of companies and the system. At the same time, this phenomenon is also not conducive to the healthy and stable development of China's capital market. Therefore, it is necessary to study the impact of the "earnings surprise" phenomenon and its underlying causes, propose relevant solutions, and ensure the effective operation of the performance forecast system.

Firstly, this paper analyzes the background of the earnings volatility event of OFILM, including the competitive situation of the company's industry, market environment, and policies and regulations. Under the influence of these background factors, the company may use earnings management to maximize its own interests and enhance its competitiveness in the capital market. Secondly, this paper combs the characteristics of the performance forecast system, including the scope of application, information disclosure requirements, disclosure timing, etc., to reveal the possible loopholes and shortcomings in the system. Then, this paper conducts an in-depth analysis of the motives that led to the "earnings surprise" in OFILM's performance forecast, including exaggerating losses, market, changes in management, and political motives. In addition, this paper also explores OFILM's earnings management measures and their impact on corporate value and accounting information quality.

Based on the above analysis, this paper puts forward some suggestions to promote the healthy development of China's capital market. Firstly, it is recommended to strengthen the supervision of listed companies' performance forecasts, strengthen the information disclosure system, and ensure the authenticity and reliability of performance forecasts. Secondly, listed companies are encouraged to improve their internal governance level, strengthen internal audits and supervision of financial reports. In addition, investors are encouraged to strengthen their research on listed companies and improve their own risk prevention awareness. Finally, it is recommended to improve relevant laws and regulations, increase the punishment for non-compliant companies, and reduce the phenomenon of earnings volatility. At the same time, this paper hopes to add more diversified research cases to provide more reference for the improvement of the performance forecast mechanism. Through the study of OFILM, more valuable experience and lessons can be summarized to improve China's capital market system, promote the reform and improvement of the performance forecast system, and promote the healthy and orderly development of China's capital market.