由於過去文獻多在探討內部控制有效性對裁決性應計數盈餘管理的影響，本研究主要則是在探討實質盈餘管理的使用與內部控制缺失兩者間的關聯性。本研究以2004年至2010年之美國公開發行公司為研究對象，利用SOX 404會計師所出具的內部控制意見書，探討內部控制有效性與實質盈餘管理之關聯性。研究結果顯示，當公司之內部控制出現缺失時，管理階層越有可能透過實質盈餘管理以達預期盈餘目標。此外，本研究亦針對內控缺失之嚴重性，探討其與實質盈餘管理之關聯，結果發現，內控缺失數目越多，以及內控缺失類型屬於公司層級時，公司越會進行實質盈餘管理，且以過度生產最為顯著。

Unlike most literature that discusses the effect of internal control quality on accrual-based earnings management, this study investigates the relationship between real earnings management and internal control material weaknesses. I use the internal control opinion issued by the auditor per SOX 404 requirement to measure internal control effectiveness. Based on a sample of public U.S. firms from 2004-2010, the results show a positive association between internal control material weaknesses and real earnings management. I further examine the severity of internal control weaknesses using the number of material weaknesses and whether the weakness is company-level (vs. account-specific). The results show that the level of real earnings management, in particular overproduction, increases with the severity of internal control weaknesses.

摘要 i
Abstract ii
目錄 iii
表目錄 iv
第一章 緒論 1
第二章 文獻回顧與假說發展 4
第一節 內部控制相關文獻 4
第二節 實質盈餘管理相關文獻 8
第三節 研究假說 11
第三章研究設計 12
第一節 變數衡量 12
第二節 實證模型 16
第三節 樣本與資料 17
第四章實證結果 19
第一節 敘述性統計分析 19
第二節 相關係數分析 21
第三節 迴歸結果分析 24
第五章額外測試 27
第六章研究結論、限制與建議 31
第一節 研究結論 31
第二節 研究限制與建議 31
參考文獻 33

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