臺灣博碩士論文加值系統

　　本研究以Ohlson評價模型為基礎，探討2005年後台灣上市（櫃）公司所發布之半年度合併財務報表是否具有增額的資訊內涵與價值攸關性，以及對年度合併報表之資訊內涵與價值攸關性的影響。
　　實證結果顯示，半年度合併財務報表確實較半年度母公司財務報表更具資訊內涵與價值攸關性。相較於子公司比重小之企業，半年度合併財務報表更能補足投資人對子公司比重大之企業的資訊需求，亦較有增額之資訊內涵與價值攸關性。
　　在半年度合併財務報表發布後，年度合併財務報表變得更具資訊內涵，且年度合併財務報表的地位與重要性並不因半年度合併報表的發布而降低，投資人在年底進行股權評價時仍會考量全年度的營運成果做出最適的決策，因為一個完整會計期間的財務資訊較下半年度更具有指標性。
　　最後本研究發現，在合併財務報表與母公司個別報表兩份報表並陳的情況下，能提供報表使用者最完整的資訊，若缺少任何一份皆會造成資訊流失，加劇管理階層與投資人之間的資訊不對稱，且合併的財務報表確實能提高企業之資訊透明度。

　　This study bases on Ohlson model, investigating whether semiannual consolidated financial statement has incremental information content and value relevance which issued by Taiwan listed and OTC companies after 2005 and the impact on information content and value relevance of annual consolidated financial statement after issuing the semiannual consolidated financial statement.
　　The results are that semiannual consolidated financial statement has more incremental information content and value relevance than parent financial statement. Compared with the company which has lower proportion of subsidiary company, semiannual consolidated financial statement can offer more information about subsidiary company to investors and has more incremental information content and value relevance to the company which has higher proportion of subsidiary company.
　　After issuing semiannual consolidated financial statement, annual consolidated financial statement will have more information content. Moreover, the importance and status of annual consolidated financial statement is stable whether semiannual consolidated financial statement issued or not. Financial information of whole year is more indicative than it of half of year. In this way, in the end of year, investors evaluate equity by considering performance of whole year.
　　Finally, this study finds that consolidated and parent financial statement offer more useful information to investors. Otherwise, it will increase asymmetric information without consolidated or parent financial statement. Furthermore, consolidated financial statement can increase the information transparency of company.

目錄
第壹章　緒論 1
第一節　研究動機與目的 1
第二節　研究架構與流程 3
第貳章　文獻探討與假說發展 5
第一節　國內外合併報表發展背景回顧 5
第二節　會計資訊與股權評價之關聯 13
第三節　合併財務報表相關文獻 18
第四節　研究假說發展與彙整 24
第參章　研究設計與資料來源 28
第一節　模型建立 28
第二節　變數之定義與衡量 39
第三節　研究設計與檢定方式 48
第四節　資料來源、選樣標準與樣本組成 59
第肆章　實證結果與分析 65
第一節　敘述性統計 65
第二節　實證結果：研究設計A 75
第三節　實證結果：研究設計B 92
第伍章　結論與建議 118
第一節　研究結果與研究貢獻 118
第二節　研究限制與未來研究方向 121
參考文獻 122

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