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研究生:蔡昀瑾
研究生(外文):Tsai, Yun-Jin
論文名稱:會計師懲戒對客戶股價蔓延效果之研究:分析會計師懲戒特性
論文名稱(外文):Contagion Effect of Auditor Sanction on Client Stock Price Reactions: Analyze the Influential Elements
指導教授:黃劭彥黃劭彥引用關係
指導教授(外文):Huang, Shaio-Yan
口試委員:林有志周庭楷楊美玲黃劭彥
口試委員(外文):Lin, Yu-ChihChou, Ting-KaiYang, Mei-LingHuang, Shaio-Yan
口試日期:2012-06-12
學位類別:碩士
校院名稱:國立中正大學
系所名稱:會計與資訊科技研究所
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:2012
畢業學年度:100
語文別:中文
論文頁數:77
中文關鍵詞:會計師懲戒蔓延效果
外文關鍵詞:auditor sanctioncontagion effect
相關次數:
  • 被引用被引用:2
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  • 下載下載:29
  • 收藏至我的研究室書目清單書目收藏:1
會計師在資本市場中扮演著重要角色,也被主管機關與社會大眾賦予確保財報允當表達之責任,然而國內外一連串的財務報表舞弊案件,以及接踵而來的懲戒處分,嚴重地打擊會計師獨立專業的形象。而投資者經由會計師聲譽之負面消息,便對會計師簽證的財務報表備受質疑,進而產生信賴危機。國內文獻多以探討懲戒制度及審計品質之關係,少有探討會計師受懲戒所引起的經濟後果,亦未對懲戒案件之個別特性做詳細探討。

本研究採用事件研究法探討會計師受懲戒處分後,其會計師個人之其他簽證客戶的股價蔓延效果,並深入探討個別懲戒案件之特性差異,研究結果顯示產業專精、懲戒程度及懲戒次數對於累積異常報酬之影響為負向顯著。四大則為正向顯著,顯示具有保護效果。爾後於穩固性測試中進行五項測試,分別為重新定義長短時間差、重新測試窗期、改變產業專精衡量方式、懲戒次數採虛擬變數,以及改變選樣方式。其結果皆與主要結果大抵一致。


Accountants play an important role in the capital market, given by the competent authorities and the general public ensure that the correct expression of the responsibility of the financial statements, however, a series of domestic and foreign financial statements of cases of fraud, and the ensuing disciplinary action, serious blow to the image of the accountants who is independent and professional. Investors receive negative news about accountant reputation, then the financial statements of the CPA is being questioned, and then have trust crisis .Most of domestic literature study the relationship of the auditor sanction and audit quality, few to study the economic consequences caused by the auditor sanction, nor to analyze the influential elements of the disciplinary cases.

This study adopts event study methodology to explore after auditor sanction release, the contagion effect about the audit clients’ value, and analyzes the influential elements of the sanction cases deeply. The results suggest that there is an negative significant effect on market prices and industry specialization, sanction level and sanction order are negative significant in generally, and big 4 compares with a positive significant result. The robust analysis are re-defining the length of time, re-testing window period, changing the way to measure industry specialization, using dummy to measure sanction order and to change the sampling mode. The results are probably consistent.

第一章 緒論 1
1.1 研究動機與目的 1
1.2 研究問題 9
1.3 論文架構及研究流程 10
1.3.1 論文架構 10
1.3.2 研究流程 11
第二章 我國會計師懲戒制度及文獻探討 12
2.1 我國會計師懲戒制度 12
2.1.1 會計師懲戒委員會依相關法律規定決議懲戒 12
2.1.2 行政院金融監督管理委員會證券期貨局 15
2.2 會計師懲戒特性文獻回顧及假說建立 16
2.2.1 產業專精 17
2.2.2 懲戒原因 19
2.2.3 四大會計師事務所 21
2.2.4 懲戒程度 23
2.2.5 懲戒次數 24
第三章 樣本及研究方法 26
3.1 資料來源、樣本選取及事件日之選擇 26
3.2 實證方法 29
3.2.1 單變量分析 30
3.2.2 多元迴歸分析31
第四章 實證結果 38
4.1 敘述性統計分析 38
4.1.1樣本資料彙總 38
4.1.2敘述性統計及相關性分析 39
4.2 多元迴歸結果 43
4.2.1全樣本之多元迴歸分析 43
4.2.2樣本依時間差(TIME)分群 45
4.3 穩固性測試 48
4.3.1重新定義長短時間差 48
4.3.2重新測試窗期 51
4.3.3重新定義產業專精 54
4.3.4懲戒次數採虛擬變數(Dummy)衡量 59
4.3.5改變選樣方式 59
第五章 結論與限制 60
5.1研究結論 60
5.2 研究貢獻 61
5.3管理意涵 62
5.3.1公司管理當局 63
5.3.2會計師 63
5.3.3主管機關 64
5.4研究限制 65
參考文獻 67

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