國內知名企業連續爆發重大會計弊案後，不僅重創了投資大眾對於對財務報表之信心，導致企業財務報表之盈餘品質備受質疑，造成投資風險增加。本研究係從市場投資者的角度，提供一套從整體企業經營活動的觀點進行分析，以便作為投資者的投資組合決策之參考。本研究採用Dechow and Dichev(2002)發展出衡量盈餘品質之營運資金估計誤差模式，並以導入「六標準差」理念中，將過去對盈餘品質抽象性觀念，轉變成以數字量化資料，回歸至財務報表分析的觀念將連接成整體性構面，藉由Palepu、Healy and Bernard(2005)企業整體性評估與分析的觀念，進行整體企業經營活動分析，比較企業之產業環境因素、經營策略、會計政策、財務分析，來解釋營運資金估計誤差之特性，並以說明其對盈餘品質之差異原因。

This study attempts to analyze overall management activities of firms, relating to the role of market investors, to provide investors with important reference information for managing their portfolios. The method of Dechow and Dichev(2002) was adopted to measure earnings quality and to develop an working capital estimation errors model. In addition, the "Six Sigmas" principle was used to transform past abstract concepts into quantification to link to financial report analytical concepts and to form an overall structure proposed by Palepu, Healy and Bernard(2005). Analysis of overall management activities of firms, comparison of industry environmental factors of firms, business strategies, accounting systems, financial analysis and characteristics of working capital estimation errors were carried out to explain differences in earnings guality among firms.

摘要 I
章節目錄 III
圖目錄 V
表目錄 VI
第一章 緒論 1
第一節 研究背景與目的 1
第二節 研究架構 4
第三節 研究流程 5
第二章 文獻探討 6
第一節 盈餘品質之論述 6
第二節 營運資金估計誤差對盈餘品質之關係 11
第三章 研究方法 13
第一節 觀念性流程 13
第二節 六標準差之論述 15
第三節 六標準差導入營運資金估計誤差之應用 16
第四節 資料來源、樣本選取及研究期間 26
第四章 實證論述 30
第一節 營運資金估計誤差之衡量 30
第二節 營運資金估計誤差之資料分析 38
第三節 改善及控制 49
第四節 論述樣本資料分析構面 51
第五章 結論及建議 52
參考文獻 54
附錄 58

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