Introduction: Thesis outline can be divided into simple outline and detailed outline. A simple outline is highly generalized, which only shows the main points of the paper, and how to develop it is not involved. Although this outline is simple, it can be written fluently because of its thoughtfulness. Without this preparation, it is difficult to write fluently while thinking. Let's take a look at the outline of the graduation thesis on financial management with me. I hope it helps!
1 Introduction
1. 1 topic background
The research significance of 1.2
1.3 research content and scope of the paper
1.4 possible innovations and shortcomings
2. Literature review at home and abroad
2. 1 the relationship between the company's financial characteristics and financial restatement
2.2 the relationship between corporate governance and financial restatement
2.3 Motivation of financial restatement
2.4 Economic consequences of financial restatement
2.5 Literature Review and Enlightenment
3 Concept definition, theoretical basis and research hypothesis
3. 1 concept definition
3. 1. 1 Definition of the concept of financial restatement
3. 1.2 Definition of the concept of debt financing
3.2 Theoretical basis
3.2. 1 principal-agent theory
3.2.2 Information asymmetry theory
3.2.3 Behavior Theory
3.3 Research hypothesis
3.3. 1 Relationship between financing demand and restatement of financial statements
3.3.2 The impact of restatement of financial reports on debt financing
4 empirical research design
4. 1 Research on the Relationship between Financing Demand and Financial Restatement
4. 1. 1 sample selection
4. 1.2 data collection
4. 1.3 variable definition
4. 1.4 model setting
4. 1.5 Descriptive statistics and variance analysis
4. 1.6 independent variable correlation test
4. 1.7 logistic regression analysis
4.2 Study on the Relationship between Financial Restatement and Debt Financing
4.2. 1 sample selection
Variable definition
4.2.3 Model setting
4.2.4 Descriptive statistics and variance analysis
4.2.5 Independent variable correlation test
Linear regression analysis
5. Research conclusions, policy recommendations and research prospects
5. 1 research conclusion
5.2 Policy recommendations
5.2. 1 Improve the supervision system, increase the punishment, and implement the compensation liability system.
5.2.2 Improve the internal governance structure of the company.
5.3 R&D prospects
The conclusion of this paper
This paper takes the financial restatement of manufacturing listed companies as the research object. Firstly, matching samples are set for restated companies according to certain rules, and then the relationship between financing demand and restatement of financial reports and the influence of restatement announcement on debt financing scale are tested by independent sample T test and linear regression method. Through the analysis of this paper, we can draw the following conclusions:
First of all, the financial restatement of listed manufacturing companies in China is universal and frequent. 5,465,438+0 listed companies have made financial restatements. In the past six years, 90 listed companies have issued more than three announcements of correction or error adjustment, among which SZSE China A, Langfang Development and Yaxing Chemical have issued three financial restatements in the past six years, which fully shows that a considerable number of listed companies have frequent financial restatements, so it can be seen that their restatement motives are likely to manipulate profits and whitewash financial statements.
Secondly, through the independent sample T test of restated enterprises and matching enterprises, we can find that the financing demand of restated enterprises is significantly greater than that of matching enterprises. Taking financial restatement as the explained variable and financing demand as the explanatory variable, logistic regression shows that financing demand is positively correlated with financial restatement. The empirical test results confirm the hypothesis of this paper, that is, when the liquidity of enterprises is insufficient, enterprises have the demand for low-cost financing. At this time, the management tends to modify the financial data to whitewash the financial statements, and then make error correction or retrospective adjustment in the form of temporary announcement when it is discovered by certified public accountants or regulatory agencies, so the financing demand significantly increases the possibility of financial restatement.
Third, the existing research shows that financial restatement will damage the value of shareholders and cause negative market reaction. Therefore, after controlling the company's financial characteristics and corporate governance characteristics, it is expected that creditors will doubt the quality of accounting information of financial restated enterprises and reduce loans to restated enterprises to avoid risks. The empirical results support the above hypothesis. Financial restatement of listed companies damages the quality of accounting information, increases the information asymmetry between creditors and restated companies, and increases the risk of creditors. In order to protect their own interests from damage, creditors will reduce their loans to restated enterprises.
Finally, from the linkage relationship among financing demand, financial restatement and debt financing scale, financing demand drives the financial restatement behavior of enterprises, but after financial restatement, creditors (such as banks) will identify their potential risks according to this behavior, thus reducing their investment in enterprises and increasing the difficulty of subsequent financing restatement of enterprises. It can be seen that investors can identify potential risks through financial restatement, and listed companies should carefully consider the gains and losses of financial restatement.
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