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研究生:鄭綉燕
研究生(外文):HSIU-YEN CHENG
論文名稱:盈餘管理與公司治理、股票報酬關連性之探討
論文名稱(外文):The Relationship of Corporate Governance, Stock Returns and Earnings Management
指導教授:胡昌國胡昌國引用關係
指導教授(外文):Chang-Kuo Hu
學位類別:碩士
校院名稱:真理大學
系所名稱:經濟學系財經碩士班
學門:商業及管理學門
學類:一般商業學類
論文種類:學術論文
論文出版年:2010
畢業學年度:98
語文別:中文
論文頁數:55
中文關鍵詞:盈餘管理裁決性應計項目公司治理股票報酬
外文關鍵詞:Earnings managementDiscretionary accrualsCorporate governanceStock return.
相關次數:
  • 被引用被引用:3
  • 點閱點閱:216
  • 評分評分:
  • 下載下載:0
  • 收藏至我的研究室書目清單書目收藏:2
本研究係以1998年1 月至2008年12月在台灣證券交易所掛牌上市公司作為研究樣本,共計208家公司,The Modified Jones Model估計裁決性應計項目,並觀察公司治理對管理階層在運用裁決性應計項目決策上之影響。同時以Panel Data模型對整體樣本公司作分析,探討不同產業的公司治理對盈餘管理是否有顯著差異以及損益平穩對股票累積異常報酬之影響。實證結果發現:董事會規模與裁決性應計項目呈顯著負相關,顯示董事會規模愈大利用裁決性應計項目進行盈餘管理的幅度愈小;經理人持股比率與債務風險呈現顯著正相關,顯示理人持股比率與債務風險比率越高的公司其利用裁決性應計項目進行盈餘管理的幅度愈大;董事會獨立性與大股東持股比率則無顯著;損益平穩與股票累積異常報酬有顯著正向關係。
This study focuses on a issue about earnings management and uses 208 listed companies from January 1998 to December 2008 on the Taiwan Stock Exchange as a research sample. The Modified Jones Model estimates discretionary accruals on corporate governance to analyze how discretionary accruals influence a decision making and the Panel Data Model is used to analyze the overall sample. The study of corporate governance on different industries have significant differences in earnings management and income smoothing of the cumulative abnormal return stock. The empirical results show: The relationship between board size and discretionary accruals is a significant negative correlation, indicating the larger the board size using discretionary accruals to the smaller magnitude of earnings The relationship between management; manager shareholding ratio and the leverage is significantly positively correlated, showing manager shareholding ratio and leverage of the higher risk of their use of company projects accruals earnings management is negatively correlated with; The relationship between board Independence and primary shareholder is no significant; The relationship between income smoothing and the cumulative abnormal stock returns is significantly positive .
目錄
第一章 緒論
第一節 研究動機與目的................................1
第二節 研究流程......................................3
第三節 論文架構......................................4
第二章 文獻探討
第一節 盈餘管理......................................5
第二節 公司治理與盈餘管理...........................10
第三節 盈餘管理與股票報酬...........................12
第三章 研究設計
第一節 研究假說.....................................15
第二節 變數衡量.....................................18
第三節 實證模型.....................................24
第四節 資料分析方法.................................25
第五節 資料來源.....................................27
第四章 實證結果與分析
第一節 研究期間與樣本選取...........................28
第二節 敘述性統計與相關性分析.......................31
第三節 Panel Data模型之實證模型......................37
第五章 結論與建議
第一節 研究結論.....................................45
第二節 研究建議.....................................48
參考文獻.................................................49
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8.張天桂(2001),裁決性應計項目與股票報酬之關聯性,國立台北大學會計研
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