我国证券市场已经迈入后股权分置时代,加强对上市公司在后股权分置时代报表粉饰新动向的研究,对于提高证券监管水平,防范审计失败,以及促使上市公司警钟长鸣等方面,都极具现实意义。本文从分析粉饰报表的动机开始,进一步分析粉饰报表行为与股价的联动性问题,对后股改时代上市公司粉饰报表与股价操纵行为进行初探。 China’s securities market has entered the era of non-tradable shares, strengthening the study on the new trend of the whitewash statements of listed companies in the post-share-trading era. Both of them are of great significance in raising the level of securities supervision, guarding against the failure of auditing and the alarm of listed companies Very practical significance. This article starts from the analysis of the motivation of the whitewash report, further analyzes the linkage between the whitewashing report behavior and the stock price, and makes a preliminary study on the whitewash statements and stock price manipulation behavior of the listed company in the post-reform period.