Taking financial report
restatements of A shares Listing Corporation in Shanghai Stock Exchange from
2012 to 2014 as research samples, this paper analyzes the characteristics of
the financial report restatement from multiple perspectives. Research results
show that the financial report restatements of the listing corporation have
five external characteristics. 1) It is a certainly universe phenomenon about
financial restatements. 2) Listed companies belong to manufacturing or in
underdeveloped areas more prone to restate. 3) Parts of the companies are “regulars”
of financial restatements. 4) Majority restatement announcements are correction
notice. 5) Overall timeliness of restatement announcements is strong and supplementary
notice lag time is the longest. There are three internal characteristics about
financial restatements. 1) The financial restatements related to governance
issues are the most. 2) More financial restatements make the low- level errors.
3) Financial report disclosure format of the listing companies is not
standardized. Finally, related suggestions are put forward based on the above
Cite this paper
Gao, J. and Chen, Y. (2015) Study on Characteristics of the Financial Report Restatements. Open Journal of Social Sciences
, 1-7. doi: 10.4236/jss.2015.311001
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