臺灣博碩士論文加值系統

本研究探討經理人過度自信、監督機制與成本僵固之關聯性。以台灣之上市櫃公司為樣本，測試其銷貨成本和銷管費用是否存在成本僵固現象。管理者之決策是導致成本僵固的原因之一，因此，本研究想探討經理人過度自信的特質對成本僵固之影響。而完善的監督機制理當能發揮其監督管理當局之職責，故本研究亦測試監督機制與僵固性，以及其對經理人過度自信行為與成本僵固關係的抑制效果。實證結果顯示：(1)我國上市櫃公司之銷貨成本和營業費用存在僵固現象。(2)經理人之過度自信容易使其資源分配決策出現偏誤，導致成本僵固。(3)完善的監督機制能減緩代理問題造成之成本僵固。(4)監督機制亦能有效制約經理人過度自信行為，減緩成本僵固問題。

This study explores the relationship between manager overconfidence, monitoring mechanisms, and cost stickiness. Using a sample of firms listed on the Taiwan Stock Exchange, this paper tests whether cost of goods sold and operating expense are sticky. Managers decision-making is one of the reasons for the cost stickiness. Therefore, this study wants to explore the impact of managerial overconfidence on cost stickiness. Comprehensive monitoring mechanism should be able to play its role of supervision on management authorities. This study also tested the inhibitory effect of monitoring mechanism on cost stickiness and the moderate effect of monitoring mechanism on the relation between managers’ overconfidence behavior and cost stickiness. The empirical results in this paper are: (1) Cost stickiness exists in cost of goods sold and operating expenses of publicly traded corporations. (2) Managers overconfidence makes their resource allocation decisions to be biased, and it results in cost stickiness. (3) An effective monitoring mechanism can reduce the cost stickiness of operation expenses caused by agency problems. (4) The monitoring mechanism can also effectively restrict managers overconfidence behavior and slow down the problem of cost stickiness of operation expenses.

摘要 I
Abstract II
目錄 III
表目錄 IV
圖目錄 V
第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 4
第三節 研究架構與研究流程 5
第二章 文獻探討與假說發展 7
第一節 成本僵固性 7
第二節 經理人過度自信 10
第三節 監督機制 13
第三章 研究方法 17
第一節 樣本選取與資料來源 17
第二節 成本僵固性之實證模型 19
第三節 經理人過度自信與成本僵固性之實證模型 21
第四節 監督機制與成本僵固性之實證模型 24
第五節 經理人過度自信、監督機制與成本僵固之實證模型 26
第四章 實證結果與分析 28
第一節 敘述統計 28
第二節 相關係數 30
第三節 廻歸分析結果 33
第五章 結論與建議 41
第一節 研究結論與貢獻 41
第二節 研究限制與未來建議 43
參考文獻 44

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