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論文中文名稱:實質盈餘管理、盈餘門檻與資訊透明度關係之研究 [以論文名稱查詢館藏系統]
論文英文名稱:The Relation of Real Earning Management, Earnings Thresholds and Information Transparency [以論文名稱查詢館藏系統]
院校名稱:臺北科技大學
學院名稱:管理學院
系所名稱:工商管理研究所
畢業學年度:102
出版年度:103
中文姓名:方自億
英文姓名:Tzu-Yi Fang
研究生學號:98749011
學位類別:博士
語文別:中文
口試日期:2014-06-16
論文頁數:111
指導教授中文名:林鳳儀
指導教授英文名:Fengyi, Lin
口試委員中文名:丁承;葉金成;張石柱;汪進揚;蕭幸金;謝金賢
中文關鍵詞:實質盈餘管理盈餘門檻資訊透明度環境資訊揭露
英文關鍵詞:Real Earnings ManagementEarnings ThresholdsInformation TransparencyEnvironmental Information Disclosure
論文中文摘要:本研究主要檢測台灣上市(櫃)企業實質盈餘管理、盈餘門檻與資訊透明度之關係。以往研究認為投資大眾會因為企業財務報表公佈之盈餘不如預期,而給予負向評價,因此,管理當局可能會透過盈餘管理之行為以避免公告盈餘低於盈餘門檻。近年來有越來越多證據顯示操縱應計項目並非盈餘管理的主要方式。
因此,本研究不同過往的研究,採用實質盈餘管理為檢測方式,並選定正盈餘門檻、前期盈餘門檻及分析師盈餘門檻做為研究主軸;過去有關實質盈餘管理之研究,大都探討向上盈餘管理,較少探討向下及平穩化盈餘管理的行為,因此本研究欲檢驗是否企業存在以符合盈餘門檻動機而進行之盈餘行為,並期望找出台灣企業對於五種實質盈餘管理項目(營運活動現金流量、研發支出、銷管費用、處分資產利得及生產成本)之主要操作工具。而研究結果亦發現獲利狀況不同的公司群組,管理者的確會於其在意的盈餘門檻有實質盈餘管理行為。
自2002年恩隆(Enron)案爆發後,與公司治理與資訊揭露相關的議題備受重視,較佳的資訊透明度可有效減少管理者進行盈餘管理的行為,但鮮有同時探討實質盈餘管理、盈餘門檻與資訊透明度三者間關係之研究。本研究進一步藉由企業實質盈餘管理行為的情況,進行檢測三種盈餘管理動機與資訊透明度的調節效果,研究結果證實了資訊透明度確實會影響實質盈餘管理行為。
論文英文摘要:This study examines the relationship among the real earnings management, earnings thresholds, information transparency and environmental information disclosure from the Taiwan listed companies. Previous researches show that the investors tend to have negative evaluations to those companies whose financial statements fail to meet the earnings target. Therefore, managers prefer to manipulate their earnings to avoid being less than the earnings thresholds. Recently, more and more literatures show that dressing the accruals is not the main approach for earnings management . We focus on zero, last period earnings, and consensus analyst forecasts as proxies of earnings thresholds. Moreover, the earnings management was divided into three portions including the upward, downward and smooth earnings management. Most literatures mainly focus on upward earnings management. The behavior of downward and smooth earnings management need more exploitation. For this reason, our study likes to examine whether the companies behave to operate the earnings for meeting the motivation of earnings thresholds. We anticipate finding the principal operating instrument out of five real earnings management for Taiwan enterprises.
Lots of literatures show that firms with better corporate governance mechanisms can effectively reduce earnings management behavior. Instead, studies about the correlation among real earnings management, earnings thresholds and information transparency need more efforts. Therefore, our research attempts to examine the corporate governance factors related to earnings management to understand the characteristics of a firm’s earnings thresholds and earnings management behavior. We examine the correlation among the real earnings management, three earnings thresholds and three earnings management motivations through the enterprise information disclosure transparency.
論文目次:摘 要 I
ABSTRACT II
誌 謝 IV
目 錄 V
表目錄 VII
圖目錄 VIII
第一章 緒論 1
1.1 研究背景與動機 1
1.2 研究目的 4
1.3 論文結構與研究流程 5
第二章 文獻探討 8
2.1盈餘管理與實質盈餘管理之關係 8
2.1.1實質盈餘管理 11
2.2盈餘管理與盈餘門檻之關係 15
2.2.1 正盈餘門檻 18
2.2.2前期盈餘門檻 19
2.2.3 分析師預測盈餘門檻 19
2.3資訊透明度與盈餘管理之關係 20
2.3.1 台灣上市櫃公司資訊揭露評鑑系統之介紹 22
2.4企業環境資訊揭露與盈餘管理之關係 23
2.4.1 企業環境資訊揭露 23
2.4.2 自願性資訊揭露與強制性資訊揭露 24
第三章 研究設計 27
3.1 三種從事盈餘管理的動機 27
3.2 實質盈餘管理的衡量 28
3.3企業為符合盈餘門檻目標的實質盈餘管理 33
3.4實質盈餘管理、盈餘門檻與資訊透明度 35
3.5實質盈餘管理、盈餘門檻與財務及環境資訊揭露 37
3.6 相關變數之定義與衡量 39
第四章 實證結果與分析 46
4.1 實質盈餘管理、盈餘門檻與三種盈餘管理動機之關係 46
4.1.1敘述性統計 46
4.1.2實質盈餘管理總合指標(REM)與盈餘門檻之迴歸分析 48
4.1.3實質盈餘管理變數與達到獲利門檻(BENCH)之多變量分析 53
4.1.4實質盈餘管理變數與獲利大幅超過盈餘門檻(BEAT)之多變量分析 58
4.1.5實質盈餘管理變數與獲利大幅低於盈餘門檻(MISS)之多變量分析 64
4.2 實質盈餘管理、盈餘門檻、三種盈餘管理動機與資訊透明度之關係 68
4.3 實質盈餘管理、盈餘門檻、三種盈餘管理動機與企業環境資訊揭露之關係 77
第五章 結論與建議 87
5.1結論 87
5.2 研究貢獻 92
5.3建議 93
參考文獻 95
附錄 107
A:年報環境資訊揭露評分標準 107
B:學者對環境敏感性產業之定義 111
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