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<p>读文献的时候总是看到“benchmark beating ”，那个意思模模糊糊的，但是总应用相应的术语表达吧，是什么呢？求教各路神仙。以下给出一段背景文字：</p><p><font size="2">This paper synthesises a new strand of earnings management research that uses distribution of reported earnings to detect earnings management instead of using discretionary accruals (DACCR), the conventional proxy for earnings management. The theoretical foundation for <span class="searchword">benchmark</span>
<span class="searchword">beating</span> approach is derived from the ‘prospect theory' developed by Kahneman and Tversky (1979) which shows that losses are more displeasing than the equivalent gain when evaluated from a particular reference point. Three such reference points are identified in the ‘<span class="searchword">benchmark</span>
<span class="searchword">beating</span>' literature, namely (i) avoiding losses; (ii) reporting small increase in earnings; and (iii) meeting or just <span class="searchword">beating</span> analyst forecasts. Review of the empirical literature shows that there is an unusual discontinuity around zero for earnings level, earnings change and analyst forecasts than expected. Managers use available flexibilities under GAPP like deferred tax expense, tax expense, stock repurchase, restructuring charge reversals etc. to manage earnings for the purpose of achieving earnings thresholds. Research shows that stock-based compensation packages offered to managers is an important motivation for managers to engage in meeting or <span class="searchword">beating</span> earnings thresholds. However, corporate governance mechanism like shareholder protection constrains managerial ability to meet or beat <span class="searchword">benchmark</span>. Limitations of ‘<span class="searchword">benchmark</span>
<span class="searchword">beating</span>' literature for standard-setters are identified and some future research directions are provided. </font></p>
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