臺灣博碩士論文加值系統

本研究主要在探討經理人薪酬績效敏感度( pay-performance sensitivity, 以下簡稱 PPS ）與經理人從事盈餘管理行為之關聯性。經理人是否較會藉由操縱裁決性應計項目 ( discretionary accrual,以下簡稱 DA）從事盈餘管理行為，此問題與公司之董事會是否有效監督有相當之關聯性。一般而言，董事會乃依據經理人之績效設計薪酬制度，若公司治理機制有效，該誘因會使經理人從事盈餘管理之行為減少；反之，若公司治理機制無效，將使經理人從事盈餘管理之行為增加。本研究以國內上市公司為分析對象，探討經理人薪酬績效敏感度、公司治理指數與經理人從事盈餘管理之行為。研究結果發現，薪酬績效敏感度對裁決性應計項目之平均影響具增額效果，公司治理指數對裁決性應計項目之平均影響具減額效果。

This study investigates the relationship between the CEO’s pay-performance sensitivity (PPS) and the CEO’s behavior of earnings management. The CEO’s behavior of manipulating accounting earnings by discretionary accruals (DA) may be related to the effective superintendence on the board of directors. Generally speaking, the board of directors designs the compensation scheme according to CEO’s achievements, and it will decrease the CEO’s behavior of manipulating accounting earning if the corporate governance mechanism works. On the contrary, it will increase the CEO’s behavior of manipulating accounting earning if the corporate governance mechanism doesn’t work. We find that the association between CEO pay and reported income has positive influences on discretionary accruals, and the corporate governance index has negative influences on discretionary accruals.

中 文 摘 要……………………………………………………………………………I
英 文 摘 要…………………………………………………………………………II
誌 謝 … …………………………………………………………………………III
目 錄 IV
表目錄 VI
圖目錄 VII
第壹章 緒論 1
第一節 研究背景和動機 1
第二節 研究目的 3
第三節 研究流程與全文結構 4
第貳章 文獻探討 6
第一節 薪酬制度與盈餘管理 6
第二節 公司治理 10
第三節 衡量裁決性應計項目之模型 21
第參章 研究方法 28
第一節 研究假說 28
第二節 變數的定義與衡量 31
第三節 樣本選取與資料來源 41
第四節 資料分析方法 44
第五節 敏感性分析 46
第肆章 實證結果與分析 48
第一節 敘述性統計分析 48
第二節 相關性分析 50
第三節 薪酬績效敏感度、公司治理指數與裁決性應計項目之關聯性 51
第四節 薪酬績效敏感度及公司治理指數之連結與裁決性應計項目之關聯性 56
第五節 敏感性分析 58
第五章 結論與建議 62
第一節 結論 62
第二節 研究建議與限制 64
參考文獻 66

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