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研究生:林志鴻
研究生(外文):LIN,Chih-hung
論文名稱:公司新上市前後之應計基礎與實質盈餘管理行為之研究
論文名稱(外文):Accrual-based and real earnings management activities around initial public offerings
指導教授:賴淑妙賴淑妙引用關係
指導教授(外文):Lai,Shu-miao
口試委員:張裕任劉志諒
口試日期:2012-07-06
學位類別:碩士
校院名稱:開南大學
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:2012
畢業學年度:100
語文別:中文
論文頁數:54
中文關鍵詞:盈餘管理實質盈餘管理實質盈餘操縱應計基礎盈餘管理
外文關鍵詞:IPOearnings management
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本文主要在檢驗初次公開發行(IPO)公司是否會從事應計基礎與實質盈餘管理。實證結果顯示,在IPO當年度,IPO公司有顯著正的異常應計項目與生產成本,且有顯著負的異常裁決性支出與異常現金流量。代表在IPO期間,公司除了會運用應計項目來膨脹盈餘,同時也藉由實質的盈餘操縱來粉飾財務報導。然而,IPO以後,公司會從原本的應計基礎盈餘管理轉而從事實質盈餘管理。我們也發現IPO公司從事實質盈餘管理之選擇與公司治理變數具顯著關聯性。最後,我們發現相較於應計基礎盈餘管理,實質盈餘管理對IPO後續未來經營績效有較大負面的影響。
The objective of this study is to examine accrual-based and real earnings management activities around initial public offerings (IPO). Consistent with our prediction, we find that IPO firms do engage in both accrual-based and real activities manipulation in the IPO year. Furthermore, IPO firms would shift form accrual-based to real earnings management in the post-IPO period. We also find that IPO firms’ choices to accrual and real earnings management are significantly associated with various measures of corporate governance. Finally, we find that real earnings management has greater negative effect on post-IPO performance that accrual-based earnings management. Overall, our empirical results provide new evidence that IPO firms tend to engage in both accrual and real earnings management activities, and they substitute between two methods.
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究貢獻 4
第三節 研究流程與架構 4
第二章 文獻探討 6
第一節 初次公開發行(IPO)公司與盈餘管理相關文獻 6
第二節 實質盈餘管理相關文獻 8
第三節 盈餘管理與前後經營績效表現相關文獻 12
第四節 研究假說 17
第三章 模型設計 18
第四章 實證結果 25
第一節 樣本選擇 25
第二節 IPO前後之盈餘管理行為 29
第三節 IPO公司進行實質盈餘管理之決定因素 34
第四節 IPO前後經營績效表現 41
第五章 結論與建議 43
第一節 研究總結 43
第二節 研究限制與建議 44
參考文獻 45

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