臺灣博碩士論文加值系統

本研究旨在探討財務報表重編對盈餘資訊內涵之影響，投資人是否會因財務報表重編事件而對公司未來之報表之信賴度下降，造成重編後盈餘資訊內涵較重編前下降之情形。並進一步分析不同重編類型、重編原因、重編公告日時市場之反應及重編後公司主動解任會計師及管理階層變動是否會對盈餘資訊內涵之下降幅度有所影響。

本研究係參考Wilson (2008)之研究方法與架構，進行臺灣市場之研究，實證結果顯示財務報表重編後盈餘資訊內涵確實較重編前下降，且未因改採不同事件窗期及重編後期間長短而有顯著差異。此外，財務報表重編原因為收入/利得認列者，重編後盈餘資訊內涵下降期間較非收入/利得認列者長，且在重編後第三季、第五季、第六季及第七季盈餘資訊內涵顯著低於非收入/利得認列者。而不同重編類型、重編公告日時市場之反應及重編後公司主動解任會計師及管理階層變動並未對盈餘資訊內涵之下降幅度有顯著之影響。

The purpose of this study is to explore the impact of financial restatements on information content of earnings- whether restatements would induce investors to rely less on future financial statements so that the information content of earnings declines following restatements. This study also analyzed whether different restatements types, restatements reasons, the responses on restatements announcement date, auditor dismissals and management turnover would induce different degrees of decline in information content of earnings following restatements.

This study referred to the method mentioned in Wilson (2008) to conduct a research in Taiwan’s capital market. The empirical research showed that the information content of earnings indeed declined following restatements, and the result was not affected by different event research windows or periods following restatements. In addition, the decline in the information content of earnings was longer-lasting following restatements for correcting revenue recognition problems than for other reasons. It also decreased more in the third、fifth、sixth and seventh quarter. However, different restatements types, the responses on restatements announcement date, auditor dismissals and management turnover would not induce different degrees of decline in information content of earnings following restatements.

目錄
第一章 緒論 1
第一節 研究動機與目的 1
第二節 研究架構 2
第二章 文獻探討 4
第一節 我國財務報表重編之相關規範 4
第二節 財務報表重編之相關研究 7
第三節 盈餘資訊內涵之相關研究 10
第四節 財務報表重編對盈餘資訊內涵之影響 13
第三章 研究方法 15
第一節 研究假說 15
第二節 實證模型及變數衡量 19
第三節 研究期間、樣本選取與資料來源 24
第四章 實證結果與分析 34
第一節 各變數之敘述性統計與相關性分析 34
第二節 實證結果分析 36
第三節 敏感性分析 50
第五章 結論 57
第一節 研究結論 57
第二節 研究限制 59
第三節 研究建議 60
參考文獻 61

圖目錄
圖1-1 研究流程 3
圖4-1 重編前後之盈餘資訊內涵 39


表目錄
表2-1 財務報表重編適用情況與相關規範之彙總表 4
表2-2 強制重編實質審閱之選案標準 6
表3-1 1997~2005樣本觀察值篩選表 25
表3-2 各季盈餘宣告日觀察值分配表 26
表3-3 樣本觀察值產業分布表 27
表3-4 樣本觀察值重編原因及年度分配表 29
表3-5 強制重編樣本觀察值重編原因及相關敘述統計量 31
表3-6 自願重編樣本觀察值重編原因及相關敘述統計量 32
表3-7 財務報表重編後公司主動解任會計師及管理階層異動觀察值整理 33
表4-1 各變數之敘述統計量 34
表4-2 各變數之相關係數 35
表4-3 迴歸分析結果－盈餘資訊內涵 36
表4-4 迴歸分析結果－財務報表重編後資訊內涵之改變 38
表4-5 迴歸分析結果－財務報表重編後資訊內涵之改變：強制重編 vs 自願重編 41
表4-6 迴歸分析結果－財務報表重編後資訊內涵之改變：收入/利得認列 vs 非收入/利得認列 43
表4-7 迴歸分析結果－財務報表重編後資訊內涵之改變：股價變動劇烈 vs 股價變動較不劇烈 45
表4-8 迴歸分析結果－公司解任會計師對財務報表重編後之資訊內涵之影響 47
表4-9 迴歸分析結果－管理階層變動對財務報表重編後之資訊內涵之影響 49
表4-10 不同事件窗期之分析 51
表4-11 不同事件窗期之各期盈餘資訊內涵 52
表4-12 重編後不同期間之分析 55
表4-13 重編後不同期間之各期盈餘資訊內涵 56

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