本研究以問題放款公司為樣本公司，檢視國內問題放款公司在財務發生困難之前，是否嘗試利用操縱盈餘的方式，提高公司報表之表面績效，矇騙債權銀行或投資人之行為。 研究結果發現，問題放款公司在公司發生財務危機的盈餘操縱行為，相較於正常公司確實有異常的現象，且多透過營業外項目操縱盈餘。在相關變數對盈餘操縱的影響程度方面，以董監事質押比、董事長是否兼任總經理（或近親）、負債比率與資產報酬率最能顯著解釋問題放款公司與正常公司在盈餘操縱行為的差異。 This study uses financial distress company as sample, try to investigate if these companies did manipulate earnings before financial distress happened, in order to cheat investors. The empirical evidence suggests that financial distress company did manipulate their earnings and almost through non-operating items the higher of the degree of corporate stock investment activity; board’s director and the manager is the same or closely related the higher; the debt ratio and return on asset; the firm will likely to manipulates earnings
