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研究生:吳念沂
研究生(外文):Nian-Yi Wu
論文名稱:以企業生命週期論析應計基礎盈餘管理與實質盈餘管理之間的替代效果
論文名稱(外文):Trade-Off between Real Earnings Management and Accrual-Based Earnings Management over the Firm Life Cycle
指導教授:黃劭彥黃劭彥引用關係
指導教授(外文):Shaio-Yan Huang
口試委員:周庭楷卓佳慶鄭揚耀
口試委員(外文):T. K. ChouChia-Ching ChoCheng, Lee-Young
口試日期:2013-06-25
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:2013
畢業學年度:101
語文別:中文
論文頁數:67
中文關鍵詞:企業生命週期應計基礎盈餘管理實質盈餘管理替代效果
外文關鍵詞:Firm Life CycleAccrual-based Earnings ManagementReal Activities ManipulationTrade-off
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本研究探討不同企業生命週期之下的公司,其使用盈餘管理的程度與策略。本研究依據Anthony and Ramesh (1992)之劃分方式,將樣本公司區分為成長期、成熟期以及衰退期,探討不同企業生命週期的公司,在使用應計基礎盈餘管理以及實質盈餘管理的成本上是否會有所差異,進而影響經理人盈餘管理之策略,並進一步研究此兩種盈餘管理方法之間的替代關係在不同的企業生命週期階段是否仍然存在。

本研究結果顯示,在不同企業生命週期之下,公司使用應計基礎盈餘管理及實質盈餘管理之成本是會有所差異的,進而使公司經理人在使用盈餘管理的策略上有所不同,且兩種盈餘管理方法之間的替代效果不論是在哪一個企業生命週期階段皆存在。過去國內有關於盈餘管理的研究中,甚少探討公司使用應計基礎盈餘管理及實質盈餘管理之成本,以及兩種盈餘管理之間所存在的替代效果,也較少著墨於企業生命週期對於盈餘管理決策之影響,故本文補足了相關實證證據。
This paper examines the cost associated with accrual-based earnings management and real activities manipulation and the trade-off between these two earnings management methods over a firm's life cycle. First, comparing to the mature or declining firms, the costs associated with accrual-based earnings management are relative low for growing firms. Second, comparing to growing firms, the costs associated with real activities manipulation are lower for both mature and declining firms. Third, we find that the trade off between real earnings management and accrual-based earnings management still exist in different firm life cycle. This study shows that the costs associated with earnings management are different over a firm's life cycle, and managers use accrual-based earnings management and real activities manipulation as substitutes in different firm life cycle.
目錄
第一章、緒論 1
1.1 研究背景與動機 1
1.2 研究目的 3
1.3 研究貢獻 3
1.4 研究架構 4
第二章、文獻探討與假說建立 5
2.1 盈餘管理之文獻探討 5
2.1.1 盈餘管理之定義 5
2.1.2 盈餘管理之動機 6
2.1.3 盈餘管理之方法 7
2.2 企業生命週期之文獻探討 11
2.2.1 企業生命週期之定義 11
2.2.2 企業生命週期之各個階段 11
2.2.3 企業生命週期之劃分方式 12
2.3 盈餘管理與企業生命週期之間的關聯性 15
第三章、研究方法 18
3.1 研究樣本之選取 18
3.2 實證分析方法 20
3.3 研究模型與變數解釋 21
3.3.1 盈餘管理衡量之代理變數 21
3.3.2 企業生命週期之劃分方式 24
3.3.3 驗證盈餘管理與企業生命週期之關聯性 26
第四章、實證結果與分析 32
4.1 敘述性統計 32
4.2 變異數分析 35
4.3 相關性分析 37
4.4 假說檢定 40
第五章、結論與建議 50
5.1 研究結論 50
5.2 管理意涵 51
5.3 未來研究建議及研究限制 52
附錄 54
參考文獻 56


圖目錄
圖 1 研究流程圖 4
表目錄
表 1 企業生命週期各階段之特性 13
表 2 企業生命週期劃分標準 14
表 3 樣本分配表 19
表 4 變數彙總表 30
表 5 樣本公司敘述性統計表 33
表 6 企業生命週期判斷指標之敘述性統計 34
表 7 變異數分析之統計表 36
表 8 相關係數分析表 38
表 9 全樣本之迴歸結果 42
表 10 各企業生命週期階段之迴歸結果 46
表 11 各企業生命週期階段之敘述性統計 54

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