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研究生:陳逸仲
研究生(外文):Yi-zhong Chen
論文名稱:審計委員會與資訊透明度、財務報導品質與股價反應之探討
論文名稱(外文):The Effect of Audit Committee on Information Transparency, Financial Reporting Quality and Stock Price
指導教授:賴秀卿賴秀卿引用關係
指導教授(外文):Syou-Ching Lai
學位類別:碩士
校院名稱:國立成功大學
系所名稱:會計學系碩博士班
學門:商業及管理學門
學類:會計學類
論文種類:學術論文
論文出版年:2009
畢業學年度:97
語文別:中文
論文頁數:81
中文關鍵詞:股價反應財務報導品質資訊透明度審計委員會
外文關鍵詞:financial reporting qualitycumulation abnormal returns(car)audit committee sizeaudit committeetransparency of information
相關次數:
  • 被引用被引用:67
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  • 收藏至我的研究室書目清單書目收藏:3
本研究主要探討民國93至97年國內上市(櫃)公司設置審計委員會對於其公司的資訊透明度、財務報表品質與股價累積異常報酬之影響,以台灣有設置審計委員會之上市(櫃)公司為研究對象,與沒設置審計委員會的、相似規模之同產業公司做比較。並採複迴歸分析統計方法。
  在資訊透明度方面,以台灣資訊揭露評鑑系統的評鑑分級結果作為企業透明度之衡量指標,以探討設置審計委員會情形、審計委員會規模與評鑑結果是否有關聯。研究結果顯示公司設置審計委員會的情形與審計委員會規模與資訊透明度有正向關係,有設置審計委員會與審計委員會規模較大的公司,其資訊透明度較佳。
  在財務報導品質方面,以裁決性應計數絕對值作為財務報表品質之衡量指標,研究結果顯示公司設置審計委員會的情形與裁決性應計數絕對值有負向關係,亦即其財務報導品質較佳,而審計委員會規模與財務報導品質沒有顯著關係。
  股價反應方面,以董事會宣布成立審計員會之日期前後5天的累積異常報酬做為衡量指標,研究結果顯示,有設置審計委員會的累積異常報酬情形比沒設置審計委員會為佳,兩組間有顯著差異。設置審計委員會的情形對股價反應會有正向影響。而審計委員會規模與股價反應沒有顯著關係。
This paper investigates the effect of the establishment and the number of members of audit committee on information transparency, financial reporting quality, and stock price. We focus on a sample of Taiwan publicly traded companies with audit committee. We used ordered logit model and OLS regression model to identify the relationship between two explanatory variables and information transparency, financial reporting quality and stock price. The data are collected from Market Observation Post System (M.O.P.S) and Taiwan Economic Journal (TEJ) database.
The findings indicate that as compared with firms without audit committee, firms with audit committee and more audit committee members have better information transparency in the year following the establishment. Second, the firms with audit committee also have better financial reporting quality in the year following the establishment. But audit committees size did not significantly affect financial reporting quality. Finally, we find the cumulation abnormal returns(CAR) of firms with audit committees is significantly greater than that of firm without audit committee, indicating that there exists positive market reaction to establishment of audit committee. However, the audit committee size do not have significant impact on stock price.
第壹章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 6
第三節 研究貢獻 6
第四節 研究架構 7
第貳章 文獻探討 9
第一節 美國審計委員會發展簡介 9
第二節 我國對於審計委員會之相關規定與現況 10
第三節 審計委員會與資訊透明度之相關文獻 13
第四節 審計委員會與財務報導品質之相關文獻 16
第五節 審計委員會與股價反應之相關文獻 18
第參章 研究設計 19
第一節 研究假說 19
第二節 研究模型及變數衡量 24
第三節 樣本資料來源 36
第肆章 實證結果與分析 45
第一節 設置審計委員會與資訊透明度 45
第二節 設置審計委員會與財務報導品質 51
第三節 審計委員會與股票累積異常報酬 57
第伍章 研究結論、限制與建議 63
第一節 研究結論 63
第二節 研究限制 65
第三節 對後續研究之建議 66
第四節 對業界與主管機關之建議 66
參考文獻 67
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