臺灣博碩士論文加值系統

近年來全球各公司一連串的弊案接連發生，部分的原因為管理者可能為了自身利益或為了達成預期盈餘目標進行盈餘操縱，使盈餘數字無法顯示實際之經營狀況。然而由於公司管理者與投資者間存在著資訊不對稱之問題，因此投資者無法事先從財務報表中發現企業有盈餘管理之現象。本研究欲探討企業之資訊透明度與盈餘管理之關聯性，以瞭解投資人是否可藉由判斷企業透明度之良窳推論企業進行盈餘管理的程度。
本研究以第一屆證券基金委員會「資訊揭露評鑑系統」評鑑結果，作為公司透明度之衡量指標，並探討公司的資訊透明度與盈餘管理間之關聯性。實證結果顯示，透明度愈高的企業，其盈餘管理程度愈低。此外，本研究亦以第一屆至第五屆資訊評鑑等級之變動，檢驗公司資訊揭露評鑑等級下降時，其盈餘管理之程度是否會上升。實證結果發現，當企業的透明度等級下降時，其盈餘管理程度會提高。

A series of financial reporting frauds have taken place world-widely in recent years. Part of reason stems from the manipulation of earnings by managers. However, the market does not notice the possibility of earnings management due to the information asymmetry between managers and investors. Disclosure can reduce the degree of information asymmetry, and thus may reveal earnings management. The purpose of this study is to examine whether the transparency in information disclosure of a company can reflect its extent of earnings management.
This study uses the first “Information Transparency and Disclosure Ranking Results” provided by Securities and Futures Information Center in Taiwan as a proxy of information transparency. This study investigates the relation between information transparency and the degree of earnings management. The empirical results show that the higher is company’s information transparency; the lower is the extent of its earnings management. This research also examines whether disclosure ranking change will lead to the change in degree of earnings management. The results indicate the extents of earnings management will increase when a company’s information transparency is lowered.

目錄
第壹章、 緒論 1
第一節、研究動機與目的 1
第二節、研究主題 3
第三節、研究流程 5
第貳章、 文獻探討 6
第一節、資訊揭露之相關文獻探討 6
第二節、盈餘管理之相關文獻探討 10
第三節、資訊揭露和盈餘管理之相關文獻探討 14
第四節、國內外資訊評鑑系統介紹 17
第參章、 研究設計 21
第一節、研究假說 21
第二節、實證設計 23
1.資訊透明度之衡量 23
2.資訊透明度變動之衡量 23
3.盈餘管理之衡量 24
4.迴歸模型和控制變數 27
第三節、樣本選取及資料來源 30
第肆章、 實證結果 32
第一節、敘述性統計 32
第二節、相關係數分析 34
第三節、差異分析分組比較結果 36
第四節、中位數檢定 38
第五節、資訊透明度與盈餘管理程度迴歸分析之實證結果 39
第六節、資訊評鑑等級升降與盈餘管理迴歸分析之實證結果 41
第七節、敏感性分析 45
第伍章、 結論與建議 48
第一節、研究結論 48
第二節、研究限制 48
第三節、研究建議 49
參考文獻 50
中文部份 50

一、中文部份
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薛明玲，2002，資訊透明度與企業競爭力，會計研究月刊，第200 期：14-15。
薛敏正、賴梨雯，2009，應計項目組成之波動、盈餘品質與股票報酬，北商學報，第15期：1-22。
蔡坤哲，2003，資訊揭露程度與盈餘管理關係之探討-以上市電子類為例，東華大學企業管理研究所碩士論文。
財團法人中華民國證券暨期貨發展基金會，「資訊揭露評鑑系統-作業要點暨說明手冊」，民國92 年5 月。
財團法人中華民國證券暨期貨市場發展基金會評鑑結果暨評鑑程序說明，網頁：http://www.sfi.org.tw/EDIS/result92.asp.
證券交易所與櫃檯買賣中心，2002，「上市上櫃企業公司治理實務守則」，民國91 年10 月。

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