臺灣博碩士論文加值系統

本文即參照Cohen (2007)之研究方法與架構，以1996年至2006年間之台灣上市櫃公司為對象進行研究，探討財務報導之決定因子為何，並從外生性與內生性角度探討財務報導品質與經濟後果。實證結果顯示：股東人數越多、資本密集度越高、政府持股比率越高之公司，財務報導品質較佳，營收成長越大、營運週期天數越長之公司，財務報導品質較差。而不論是假設外生性或內生性時，財務報導品質與益本比及權益資金成本都有顯著之關係，顯示財務報導品質越佳，益本比越小，權益資金成本越小；而當假設財務報導品質與股價波動性及非系統風險為外生性時，其結果並不顯著，但假設財務報導品質與股價波動性及非系統風險為內生性時，研究結果與Cohen (2007)相符，支持財務報導品質越佳時，公司股價波動性與非系統風險會較小。

Referring to Cohen (2007), I select the publicly traded firms between 1996 and 2006 as the research sample, and further discuss the determinants and consequences of information quality. I investigate the determinants and consequences of financial from two aspects: exogenous and endogenous, and find out that higher proprietary costs are associated with lower quality of financial information. Moreover, there is a significant negative relation between E/P ratio and information quality. And there is a significant negative relation between cost of capital and information quality. Under the exogenous assumption, the relation between idiosyncratic risk and information quality is not significant. However, under the endogenous assumption, there is a significant negative relation between idiosyncratic risk and information quality; these findings imply there might be endogenous problem between information quality and consequences.

目錄
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 3
第三節 論文結構 5
第二章 文獻回顧 7
第一節 應計項目與盈餘品質之探討 7
第二節 會計資訊品質與公司特性之研究 10
第三節 資訊揭露相關之成本效益 12
第三章 研究設計 19
第一節 研究樣本 19
第二節 主要變數之衡量 23
第四章 實證結果與分析 35
第一節 敘述統計 35
第二節 迴歸分析 39
第五章 結論與建議 57
第一節 研究結論 57
第二節 研究限制 60
第三節 研究建議 61
參考文獻 62
圖目錄
圖1-1 研究流程 6
表目錄
表3-1：1996-2006樣本觀察值篩選表 20
表3-2：樣本觀察值產業分布表 21
表3-3：樣本觀察值年份分布表 22
表4-1：財務報導品質決定因子之敘述統計表 35
表4-2：FQ值敘述統計表 36
表4-3：FQ之相關係數表 36
表4-4：財務報導品質決定因子之相關係數表 37
表4-5：財務報導品質決定因子之變異數膨脹因子(VIF)表 38
表4-6：財務報導品質之決定因子 43
表4-7：益本比與財務報導品質之關聯性(假設二者外生性) 46
表4-8：益本比與財務報導品質之關聯性(假設二者內生性) 47
表4-9：權益資金成本與財務報導品質之關聯性(假設二者外生性) 49
表4-10：權益資金成本與財務報導品質之關聯性(假設二者內生性) 50
表4-11：股票報酬標準差與財務報導品質(假設二者外生性) 52
表4-12：股票報酬標準差與財務報導品質(假設二者內生性) 53
表4-13：非系統風險與財務報導品質之關聯性(假設二者為外生性) 55
表4-14：非系統風險與財務報導品質之關聯性(假設二者為內生性) 56

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