臺灣博碩士論文加值系統

本研究以2007年台灣一般產業上市公開發行公司為樣本，探討公司獨立董事之專業性、獨立性及勤勉度三大特質與盈餘管理之關係。實證結果如下：
一、獨立董事為學者背景之人數占全體董監之比率愈高，代表其專業性愈高，可減少公司盈餘管理之程度；獨立董事參加董事會之平均出席率愈高時，代表其勤勉度愈高，可減少公司盈餘管理之程度。
二、在持股數之有無（獨立董事本人及其配偶、未成年子女或以他人名義持股）方面，獨立董事本人及其配偶、未成年子女或以他人名義擁有持股，盈餘管理之程度會愈低，無持股則盈餘管理之程度會愈高。代表其獨立性愈低，可降低公司盈餘管理之程度。
三、審計委員會之設置與公司盈餘管理程度呈顯著負相關。
大體而言，獨立董事之專業性及勤勉度愈高，可抑制公司盈餘管理之程度；但未發現獨立董事之獨立性（以獨立董事持股率衡量者）愈高，可減緩公司盈餘管理之程度。本研究結果亦未發現公司設置審計委員會有助於抑制公司盈餘管理之程度。

The thesis examines whether the expertise、independence and diligence of independent directors affects earnings management. Besides, this study also examines whether the audit committee is beneficial to reducing the degree of earnings management. The sample consists of observations selected from Taiwan listed companies during the year 2007. The empirical results are summarized as follows.
1. The expertise of independent directors measured by the proportion of independent directors who are scholars, help to mitigate the earnings management. The diligence of independent director as measured by the presence in the board meeting also help to mitigate earnings management. The finding shows that when the expertise or diligence of independent directors gets higher, the earnings management will get lower.
2. However, I do not find the independence of independent directors, as measured by the holdings of company’s shares, help to restrict the degree of earnings management. To the company, the holdings of shares of I.D. mitigates but not exacerbates the earnings management. I do not find whether the audit committee is beneficial to reducing the earnings management either.
Overall, our evidences support the views that the expertise and diligence of independent director can restrict the degree of earnings management. But I do not find the independence of independent directors, as measured by the holdings of company’s shares, help to restrict the degree of earnings management. Besides, I also do not find whether the audit committee is beneficial to reducing the degree of earnings management.

內 容 目 錄
第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 3
第三節 研究架構 4
第二章 文獻探討 5
第一節 公司治理 5
第二節 獨立董事沿革 7
第三節 獨立董事特質 20
第三章 研究方法 25
第一節 研究假說之發展 25
第二節 實證模式 26
第三節 樣本選取 33
第四章 實證結果 35
第一節 敘述性統計量 35
第二節 t 檢定 38
第三節 迴歸分析 44
第四節 敏感性分析 48
第五章 結論與建議 55
第一節 研究結論 55
第二節 研究限制 56
第三節 研究建議 57
參考文獻 59
附錄 63



表目錄
表2-1：證交法有關獨立董事及審計委員會之修正重點 11
表4-1：一般產業之公開發行上市公司敘述性統計量 37
表4-2：t檢定─設立審計委員會 39
表4-3：t檢定─以獨立董事是否為學者背景 41
表4-4：主要變數之相關係數矩陣 43
表4-5：獨立董事之特質與盈餘管理之關聯性-線性廻歸分析 45
表4-6：獨立董事之特質與盈餘管理之關聯性-多項式羅吉斯迴歸分析 47
表4-7：獨立董事之特質與盈餘管理之關聯性-線性廻歸分析1 49
表4-8：獨立董事之特質與盈餘管理之關聯性-線性廻歸分析2 51
表4-9：t檢定─以獨立董事持股是否在1%以上或為十大股東 53

圖目錄
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