一、研究背景与文献回顾在我国,企业各利益相关人对会计盈余还是亏损十分敏感,会计盈余已成为许多契约(包括政治契约)的重要参数。按照《中华人民共和国公司法》第157条和第158条的规定,上市公司如果“最近三年连续亏损”,将由国务院证券管 First, the research background and literature review In our country, the corporate stakeholders are very sensitive accounting surplus or loss, accounting earnings has become an important parameter of many contracts (including political contract). Pursuant to Article 157 and Article 158 of the Company Law of the People’s Republic of China, if a listed company “loses money continuously in the recent three years”, the listed company shall be controlled by the securities regulatory department under the State Council