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研究生:李承泰
研究生(外文):Cheng-tai Li
論文名稱:公營事業民營化前後盈餘持續性之比較分析-以中國大陸企業為例
指導教授:陳元保陳元保引用關係
指導教授(外文):Yen-pao Chen
學位類別:碩士
校院名稱:東吳大學
系所名稱:會計學系
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:2011
畢業學年度:99
語文別:中文
論文頁數:64
中文關鍵詞:公營事業民營化盈餘持續性盈餘品質經營績效
外文關鍵詞:state-owned enterprises to be privatizedearnings persistenceearnings qualityoperating performance
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關於公營事業民營化的研究的焦點多注重於比較民營化前後經營績效的優劣,亦即量的衡量部分,而忽略了比較民化前後盈餘品質的高低,也就是質的衡量部分。本研究開拓了公營事業民營化研究的範疇將民營化前後的「量」與「質」的衡量並重,在量的衡量部分以三種績效指標比較民營化前後經營績效的高低;而在質的衡量方面,以盈餘持續性作為盈餘品質的代表比較民營化前後盈餘品質的高低,並進一步探討盈餘持續性與國有持股比例的關係。另外,本研究將盈餘組成要素區分為由總應計項目組成之盈餘與由現金流量項目組成之盈餘,比較兩者之持續性。
實證結果顯示,在量的衡量部分,公營事業民營化後之經營績效將增進;在質的衡量部分,公營事業民營化後之盈餘持續性將降低,而國有持股比例與盈餘持續性間則呈正相關,但民營化前後是否會影響兩者之關係並未獲實證結果之支持。另外,現金流量項目之盈餘持續性將高於總應計項目之盈餘持續性。
The research about state-owned enterprises to be privatized is usually focused on operating performance what is called the quantity measurement, however, ignoring earnings persistence what is called the quality measurement. This study enlarges the research about state-owned enterprises to be privatized by testing the quantity and quality before and after the privatization simultaneously. In the quantity part, the study uses three achievement targets to compare operating performance before and after the privatization. In the quality part, this study uses earnings persistence to be the presentation of earnings quality to compare the earnings quality before and after the privatization. Further, we confer the relationship between earnings persistence and national hold ratio. Besides, we distribute the earnings into cfo components of earnings and accrual components of earnings to compare the earnings persistence between them.
The study results indicate that in the quantity part the operating performance improves after privatization. In the quality part, the earnings persistence will decrease after privatization, and we find that the national hold ratio has a positive relation with the earnings persistence. But, we can’t prove that if privatization will significantly affect the relation between them. Besides, we find that the earnings persistence of cfo components of earnings is higher than the earnings persistence of accrual components of earnings.
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
第三結  論文架構及研究流程 4
第二章 文獻探討 6
第一節  公營事業民營化 6
第二節  盈餘持續性 16
第三節  小結 20
第三章 研究方法 21
第一節  研究架構 21
第一節  研究假說 21
第三節  變數之定義與衡量 25
第四節  實證設計與模型 31
第五節  資料來源與選樣設計 33
第四章  實證結果與分析 34
第一節  樣本描述及敘述性統計分析 34
第二節  迴歸分析之基本假設檢定 38
第三節  實證結果 41
第四節  小結 49
第五章 結論與建議 50
第一節  研究結論 50
第二節  研究限制 52
第三節  研究建議 52
參考文獻 53





圖目錄

【圖1-1-1】研究流程圖 5
【圖3-1-1】研究架構圖 22

表目錄

【表2-1-1】中國大陸股權類型 15
【表3-1-1】本研究所採用之經營績效衡量變數及其操作型定義 30
【表4-1-1】樣本依產業別分類 35
【表4-1-2】樣本依民營化年度分類 34
【表4-1-3】樣本依初次釋股年度分類 36
【表4-1-4】量的衡量樣本選取過程 37
【表4-1-5】質的衡量樣本選取過程 37
【表4-1-6】敘述性統計 37
【表4-2-1】皮爾森相關係數分析 39
【表4-2-2】模型之VIF值 39
【表4-2-6】各模型之WHITE檢定 40
【表4-3-2】模型一迴歸結果 44
【表4-3-3】模型二迴歸結果 45
【表4-3-4】模型三迴歸結果 46
【表4-3-5】模型四迴歸結果 48
【表4-4-1】 實證結果彙總表 49
一、中文文獻
1.丁遠,張華和張俊喜(2007),盈餘管理-中國私營與國營上市公司的對比,金融管理研究,第七期,p.61-62。
2.王麗麗和高琦(2008),大股東控制下的盈餘管理行為研究,經濟與管理,第22卷,第五期,p.37-39。
3.孟豔瓊(2002),上市公司盈餘管理問題探討,科技新報,第14期,p.127-129。
4.官月緞(2003),中國大陸下市緩衝機制與盈餘管理之實證研究,國立政治大學會計研究所未出版論文。
5.林淑萍(2005),中國大陸股權結構與關聯方交易及盈餘管理之關聯性,國立成功大學會計研究所未出版論文。
6.胡一帆、宋敏和張俊喜(2006),中國國有企業民營化績效研究,經濟研究,第7期,49-60頁。
7.許敏政(2000),盈餘品質對分析師預測及審計意見之影響,彰化師範大學教育學系碩士論文。
8.郭鶴田(2008),中國大陸國有企業民營化制度與模式之研究,私立中國文化大學中國大陸研究所未出版論文。
9.黃柏惟(2009),公營事業民營化前後之盈餘管理比較分析—以中國大陸國有企業為例,私立東吳大學會計研究所未出版論文。
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11.楊全社,彭輝(2001) ,以公司治理結構看國有股減持,河南金融管理幹部學院學報,第4期,p.25-26。
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二、英文文獻
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