臺灣博碩士論文加值系統

盈餘管理(earnings management)，即指企業管理人員運用某些方法或程序介入財務報表編製過程，以使會計盈餘達到管理人員預定目標的一種行為，有時又可稱作盈餘操縱或盈餘操弄(earnings manipulation)。本研研欲探討公司管理者是否會以實質交易的控制(資產出售與時點認列)來公司損盈餘損益數字進行操控進而達到盈餘操控的目的。而本研檢驗在公司當期績效不好(Current performance)時，公司是否會透過出售資產來消除投資者對公司所產生的疑慮。所以當期績效與資產出售兩者應為負向關係。經由選取1993年12月起自西元2002年12月止10年間之台灣上市公司年資料(共705筆)來加以檢驗之。經由實證結果發現當期績效(CP)與資產出售超額所得之間關係並不如假設之預期。其可能原因可能是因為台灣財務預可做修正，所以結果不如預期。

Earnings management means managers use some techniques to manipulate financial statement. This action can make accounting earnings to meet with their forecast. Sometimes we name earnings manipulation. This article is discusses whether managers manipulate earnings through the timing of income recognition from disposal of asset. This article examined the hypothesis that predicts current performance and asset sale should have a negative relation. There are 705 firm-year observations in Taiwan stock market over the ten years period from 1993 to 2002. The empirical result finds current performance (CP) is not consistent with our hypothesis. Then we discuss the reason why CP is not consistent with our hypothesis. Managers can adjust financial forecast in Taiwan market. This may cause our result is not consistent with hypothesis.

目 錄
中文摘要 --------------------------------------------------------------- i
英文摘要 --------------------------------------------------------------- ii
誌謝詞 ----------------------------------------------------------------------- iii
目錄 ----------------------------------------------------------------------- iv
圖、表目錄 --------------------------------------------------------------- v
一、 緒論------------------------------------------------------------------- 1
1.1 研究動機與背景--------------------------------------------------------- 1
1.2 研究目的--------------------------------------------------------------- 3
1.3 研究架構--------------------------------------------------------------- 4
二、 我國財務預測制度與文獻探討--------------------------------------------- 6
2.1 我國財務預測制度之發展------------------------------------------------- 6
2.2 我國現行財務預測相關制度與其他國家之比較------------------------------- 13
2.3 與本研究相關之文獻----------------------------------------------------- 25
三、 研究方法--------------------------------------------------------------- 31
3.1 建立研究假設----------------------------------------------------------- 31
3.2 變數選取--------------------------------------------------------------- 33
3.3 研究方法--------------------------------------------------------------- 35
3.4 研究樣本期間選取與資料來源--------------------------------------------- 37
四、 實証研究--------------------------------------------------------------- 40
4.1 簡單迴歸分析----------------------------------------------------------- 40
4.2 複迴歸分析------------------------------------------------------------- 42
五、 結論與建議------------------------------------------------------------- 48
5.1 研究結論--------------------------------------------------------------- 48
5.2 研究建議--------------------------------------------------------------- 50
參考文獻 --------------------------------------------------------------- 51


圖、表目錄
圖(1-1) 研究架構圖--------------------------------------------------------------------- 5
表一 各主要國家的財務預測相關規定及內容--------------------------------------------- 17
表二 各產業所佔筆數----------------------------------------------------------------- 39
表三 預測績效與資產出售迴歸結果----------------------------------------------------- 40
表四 負債權益比與資產出售迴歸結果--------------------------------------------------- 41
表五 各自變數與資產出售迴歸結果----------------------------------------------------- 42
表六 各自變數且加入虛擬變數與資產出售迴歸結果--------------------------------------- 44
表七 White異質性檢定---------------------------------------------------------------- 45
表八 考量異質性迴歸結果------------------------------------------------------------- 46

國外文獻部分
Abarbanell, J., and R.Lehavy, 2000 “Can Stock Recommendations Predict Earnings Management and Analysts’ Earnings Forecast Errors?” Working paper, University of North Carolina, Chapel Hill, and University of California, Berkeley.

Ball R., and P. Brown , 1968, “An Empirical Evaluation of Account Numbers.” Journal of Accounting Research 6 , p159-178.

Bartov, E. , 1993, “The timing of asset sales and earnings manipulation.”
The Accounting Review 4, p840-855

Beaver W. H. , 1968, “The Information Content of Annual Earnings Announcements.” Journal of Accounting Research 6, p67-92.

Defond, M. L., and J. Jiambalvo, 1994, “Debt Covenant Violation and Manipulation of Accruals,” Journal of Accounting and Economics 17, p145-176.

Friedlan, J. M., 1990, “Accounting Information and the Pricing of Initial Public Offferings “, Ph.D.dissertation, University of Washington.

Geoferey Poitras and Trevor Wilkins and Yoke Shang Kwan ,2002, “The timing of asset sales：Evidence of earning management.” Journal of Business Finance & Accounting 9, p903-934

Healy,P. M. and J. M. Wahlen, 1999, “The Review Of The Earnings Management Literature and Its Implications for Standard Setting,” Accounting Horizons 4, p365-383

Herrmann, D and Inoue, T and Thomas, Wayne B, 2002, “The sale of asset to manage earnings in Japan.” Journal of Accounting Research 1, p89-108

Jaggi B., and P. Grier. , 1980, “A Comparative Analysis of Forecast Disclosing and Non-disclosing Firms.” Financial Management 9,p38-43.

McNichols, M., G. P. Wilson, and L. DeAngelo, 1988, “Evidence of Earnings Management from the Provision for Bad Debts,” Journal of Accounting Research (Autumn), p1-31.

Schipper, K., 1989, “Commentary on Earnings Management,” Accounting Horizon 4, p91-102.

Sweeney,A., 1994, “Debt Covenant Violations and Managers’ Responses,” Journal of Accounting and Economics 17, p249-281.

Wayner R. L., and E. L. Maydew. 2000. Beaver,1968, Revisited: “Has the Information Content of Annual Earnings Announcements Declind in the Past Three Decades?” Working paper. University of North Carolina.

Watts, R.L., and J.L. Zimmerman, 1978, “Towards a Positive Theory as a Determination of Accounting Standards.” The Accounting Review (January) , p112- 134.