跳到主要內容

臺灣博碩士論文加值系統

(3.229.142.104) 您好!臺灣時間:2021/07/27 02:44
字體大小: 字級放大   字級縮小   預設字形  
回查詢結果 :::

詳目顯示

我願授權國圖
: 
twitterline
研究生:吳藺芝
研究生(外文):Lin-Chih Wu
論文名稱:經理人調節焦點與會計保守性
論文名稱(外文):CEO Regulatory Focus and Accounting Conservatism
指導教授:許文馨許文馨引用關係
口試委員:杜榮瑞詹凌菁
口試日期:2015-06-30
學位類別:碩士
校院名稱:國立臺灣大學
系所名稱:會計學研究所
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:2015
畢業學年度:103
語文別:英文
論文頁數:65
中文關鍵詞:經理人調節焦點促進型目標定向防禦型目標定向會計保守性
外文關鍵詞:Regulatory FocusPromotion FocusPrevention FocusAccounting Conservatism
相關次數:
  • 被引用被引用:0
  • 點閱點閱:156
  • 評分評分:
  • 下載下載:0
  • 收藏至我的研究室書目清單書目收藏:1
過去文獻致力於經理人特質及公司政策及策略之關聯,卻較少以會計政策作為研究方向。本研究以心理學角度,以調節焦點理論(Regulatory Focus) 將經理人特質分為促進型目標定向(Promotion Focus) 和防禦型目標定向(Prevention Focus),探討經理人之特質是否會影響經理人採取保守會計,意即防禦型目標定向之經理人是否較促進型目標定向之經理人認列壞消息的速度會比認列好消息速度快。本文以調節焦點理論之目標定向作為代理變數,並以Basu (1997) 和 C_Score (Khan and Watts, 2009) 作為衡量會計保守之方式。本研究發現經理人之防禦型目標定向與會計保守性呈現正相關,顯示經理人之防禦型目標定向將會使其企業於發布壞消息時較好消息迅速。

Motivated by prior studies that examine the effect of managerial attributes on corporate policies and strategies, this study examines the relation between CEOs’ regulatory focus and accounting conservatism. According to regulatory focus theory (Crowe and Higgins, 1997), people with promotion focus tend to be riskier to seek for achievement, whereas people with prevention focus are more conservative to avoid mistakes. I measure accounting conservatism using Basu’s (1997) model and C_Score (Khan and Watts, 2009) and examine whether CEOs with promotion focus are more conservative than CEOs with prevention focus. I find that CEO’s prevention focus is positively associated with accounting conservatism, suggesting that CEOs with prevention focus is more risk-averse and have higher tendency to be conservative than the other CEOs.

Contents
謝辭 I
摘要 II
Abstract III
1. Introduction 1
2. Literature Review 5
2.1 Accounting Conservatism 5
2.1.1 Definition 5
2.1.2 Measures of Accounting Conservatism 6
2.1.3 The Role of Conservatism 8
2.2 Regulatory Focus 15
2.2.1 Definition of Regulatory Focus 15
2.2.2. Characteristics of Regulatory Focus 16
3. Hypotheses Development 20
4. Research Method 23
4.1 Measure of Regulatory Focus 23
4.2 Measure of Accounting Conservatism 25
4.2.1 Basu’s (1997) Asymmetric Timeliness Model 25
4.2.2 Firm-Specific Accounting Conservatism 28
4.3 Sample Selection 34
5. Empirical Results 34
5.1 Descriptive Statistics 34
5.2 Results from Basu’s Model 36
5.3 Results from Basu’s Model for H1 37
5.4 Results from C_Score measure for H1 38
6. Additional Analysis 40
7. Conclusion 43
Reference 45






List of Tables
TABLE 1 Regulatory Focus Words 57
TABLE 2 Variable Definition 58
TABLE 3 Descriptive statistics 59
TABLE 4 Correlation Table 60
TABLE 5 Accounting conservatism for Basu (1997) model 62
TABLE 6 Regulatory focus and accounting conservatism as measured with Basu (1997) 63
TABLE 7 Regulatory focus and C_Score 65


Ahmed, A. S., B. K. Billing, R. M. Morton, M. Stanford-Harris. 2002. The role of accounting conservatism in mitigating bondholders and shareholders conflict over dividend policy and in reducing debt cost. The Accounting Review 77, 867-890
Ahmed, A.S., S. Duellman. 2007. Accounting conservatism and board of director characteristics: An empirical analysis. Journal of Accounting and Economics 43, 411-437
Ahmed, A. S., S. Duellman. 2013. Managerial overconfidence and accounting conservatism. Journal of Accounting Research 51, 1-30
Asquith, P., A. Beatty, J. Weber. 2005. Performance pricing in bank debt contracts. Journal of Accounting and Economics Vol. 40, 101-128
Bagnoli, M., H, Liu and S. G. Watts. 2007. Family Firms, Debtholder-Shareholder Agency Costs and the Use of Covenants in Private Debt. Working Paper. Purdue University
Ball, R. 2001. Infrastructure requirements for an economically efficient system of public financial reporting and disclosure. Brooking-Wharton Papers on Financial Service, 127-182
Ball. R., L. Shivakymar. 2005. Earnings quality in UK private firms: comparative loss recognition timeliness. Journal of Accounting and Economics 39, 83-128
Ball. R., L. Shivakymar. 2006. The role of accruals in asymmetrically timely gain and loss recognition. Journal of Accounting Research 44,207-42
Basu, S. 1997. The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics 24, 3-37
Beaver, W., and S. Ryan. 2000. Biases and lags in book value and their effects on the ability of the book-to-market ratio to predict book return on equity. Journal of Accounting Research Vol. 38, 127-148
Beaver, W., and S. Ryan. 2005. Conditional and unconditional conservatism: concepts and modeling. Review of Accounting Studies 10, 269-309
Beaver, W., and S. Ryan. 2009. Risky Debt, Mixed-Attribute Accounting, and the Identification of Conditional Conservatism. Working paper, New York University.
Beeks, W., P. Pope, S. Young. 2004. The link between earnings timeliness, earning conservatism, and board composition: Evidence from UK. Corporate Governance: An International Review 12, 47-59
Ben-David, I., J. R. Graham, C. R. Harvey. 2007. Managerial overconfidence and corporate policies. Working Paper. The University of Chicago and Duke University
Berger, A. N., M. A. Espinosa-Vega, W. S. Frame, and N. H. Miller. 2005. Debt Maturity, Risk, and Asymmetric Information. The Journal of Finance Vol. 60, 2895-2923
Berger, A. N., G. F. Uedll. 2005. A more complete conceptual framework for financing of small and medium enterprises. World Bank Policy Research Working Paper
Bharath, S. T., J. Sunder, and S. V. Sunder. 2008. Accounting quality and debt contracting. The Accounting Review 83, 1–28.
Bliss, J. H., 1924. Management through accountants. The Ronald Press Co., New York
Brickley, J., R. Lease, Jr. C. Smith. 1988. Ownership structure and voting on antitakeover amendments. Journal of Financial Economics 20, 267-291
Brockner, J., E. T. Higgins and M. B. Low. 2004. Regulatory focus theory and the entrepreneurial process. Journal of Business Venturing 19, 203-220
Bryant, P. and R. Dunford. 2008. The Influence of Regulatory Focus on Risky Decision-Making. Applied Psychology: An International Review 57, 335-359
Bushee, B. 2001. Do institutional investors prefer near term earnings over long-run value? Contemporary Accounting Research 18, 207-246
Bushman, R. M., J. D. Piotrosk, A. J. Smith. 2004. What determines corporate transparency? Journal of Accounting Research Vol. 42, 207-252
Callen, J. L., F. Chen, Y. Dou and B. Xin. 2010. Information Asymmetry and the Debt Contracting Demand for Accounting Conservatism. Working paper, University of Toronto
Carleton, W., J. Nelson, M. Weisbach. 1998. The influence of institutions on corporate governance through private negotiation: evidence from TIAACREF. Journal of Finance 53, 1335-1362
Chen, C. J. P, S. Chen, X. Su. 2001. Is accounting information value-relevant in the emerging Chinese stock market? Journal of International Accounting, Auditing and Taxation 10, 1-22
Chen, T., C. L. Chin, S. Wang, W. Yao. 2014. The effects of financial reporting on bank loan contracting in global markets after mandatory IFRS adoption. Working Paper
Chen, X., J. Harford, K. Li. 2007. Monitoring: Which institutions matter? Journal of Financial Economics 86, 279-305
Chi, W., L. Liu, T. Wang. 2009. What affects accounting conservatism: A corporate governance perspective. Journal of Contemporary Accounting and Economics 5, 47-59
Clinch, G., R. E. Verrecchia. 1997. Competitive advantage and discretionary disclosure in industries. Australian Journal of Management Vol. 22, 125-137
Crowe, E., E. T. Higgins. 1997. Regulatory Focus and Strategic Inclinations: Promotion and Prevention in decision making. Organizational Behavior and Human Decision Processes Vol. 69, 117-132
Crowe, E., E. T. Higgins, C. J. R. Roney, C. Hymes. 1994. Ideal versus ought predilections for approach and avoidance: distinct self-regulatory systems. Journal of Personality and Social Psychology Vol 66(2), 276-286
Cullinan, C. P., F. Wang, P. Wang and J. Zhang. 2012. Ownership Structure and Accounting Conservatism in China. Journal of International Accounting, Auditing and Taxation (21):1-16

Dhaliwal, D., S. Huang, I. K. Khurana and R. Pereira. 2014. Product Market Competition and Conditional Conservatism, Review of Accounting Studies 19, 1309– 1345
Dichev, I. D., D. J. Skinner. 2002, Large-sample evidence on the debt covenants hypothesis. Journal of Accounting Research, Vol. 40, 1091-1123
Florack, A., M. Friese, M. Scarabis. 2010. Regulatory focus and reliance on implicit preferences in consumption contexts. Journal of Consumer Psychology 20, 193-204
Florack, A., J. Keller and J. Palcu. 2013. Regulatory Focus in Economic Contexts. Journal of Economic Psychology 38, 127-137
Forster, J., H. Grant, L. C. Idson and E. T. Higgins, 1998. Approach and avoidance strength during goal attainment: regulatory focus and the “ goal loom larger” effect. Journal of Personality and Social Psychology Vol. 75, 1115-1131
Forster, J., H. Grant, L. C. Idson and E. T. Higgins, 2001. Success/failure feedback, expectancies, and approach/avoidance motivation: How regulatory focus moderates classic relations. Journal of Experimental Social Psychology 37, 253-260
Francis, J., R. LaFond, P. Olsson, K. Schipper. 2005. The market pricing of accruals quality. Journal of Accounting and Economics 39, 295-327
Fung, W. K. H., A. Rudd. 1986. Pricing new corporate bond issues: an analysis of issue cost and seasoning effects. The Journal of Finance Vol. 41, 633-643
Gamache, D. L., G. McNamara, M. J. Mannor, R. E. Johnson, 2013. Motivated to acquire? The impact of CEO regulatory focus on firms acquisitions. Academy of Management Journal
Garcia Lara, J. M., B. Garcia Osma and A. Mora. 2008. Board of Directors’ Characteristics and Conditional Accounting Conservatism: Spanish Evidence. European Accounting Review 16, 727-755
García Lara, J. M., B. García Osma, F. Penalva. 2009. Accounting conservatism and corporate governance. Review of Accounting Studies 14, 161-201.
Givoly, D., C. K. Hayn. 2000. The changing time-series properties of earnings, cash flows, and accruals: Has financial reporting become more conservative? Journal of Accounting and Economics 29, 287-320
Givoly, D., C. K. Hayn, A. Natarajan. 2007. Measuring reporting conservatism. The Accounting Review Vol. 82, 65-106
Hermlin, B. E., M. S. Weisbach. 2003. Boards of directors as an endogenously determined institution: a survey of economic literature. Economic Policy Review 9, 7-26
Higgins, E. T. 1987. Self-discrepancy: a theory relating self and affect. Psychological Review Vol. 94, 319-340
Higgins, E. T. 1989. Self-discrepancy theory: What patterns of self-beliefs cause people to suffer? Advanced in Experimental Social Psychology Vol. 22, 93-136

Higgins, E. T. 1997. Beyond pleasure and pain. American Psychologists 52, 1280-1300
Higgins, E. T. 1998. Promotion and prevention: Regulatory focus as a motivational principle. Advances in Experimental Social Psychology Vol. 30, 1-46
Higgins, E. T., I. Silberman. 1998. Development of regulatory focus: promotion and prevention as ways of living. In J. Heckhausen & C. S. Dweck (Eds), Motivation and self-regulation across life span (pp. 78-113). New York: Cambridge University Press
Higgins, E. T. 2002. How Self-Regulation Creates Distinct Values: The Case of Promotion and Prevention Decision Making. Journal of Consumer Psychology 12, 177-91
Hribar, P., H. Yang. 2006. CEO confidence, management earnings forecasts, and earnings management. Working paper. University of Iowa and Cornell University.
Idson, L. C., N. Liberman, E. T. Higgins. 2000. Distinguishing gains from nonlosses and losses from nongains: a regulatory focus perspective on hedonic intensity. Journal of Experimental Social Psychology 36, 252-274
Jensen, M. C. 1993. The modern industrial revolution, exit and failure of internal control system. Journal of Finance 48, 831-880
Joehnk, M. D., D. S. Kidwell. 1984. The impact of market uncertainty on municipal bond underwriter spread. Financial Management Vol. 13, 37-44
Johnson, R. E., C. Chang, T. Meyer, K. Lanaj, J. Way. 2013. Approaching success or avoidng failure? Approach and avoidance motives in work domain. European Journal of Personality 27, 424-441
Johnson, R. E., L. Steinman. 2009. Use of implicit measures for organizational research: An empirical example. Canadian Journal of Behavioural Science 41, 202
Kahneman, D., A. Tversky. 1992. The psychology of preference. Scientific American 246, 161-173
Keller, J., H. Bless. 2006. Regulatory fit and cognitive performance: the interactive effect of chronic and situationally induced self-regulatory mechanism on test performance. European Journal of Social Psychology Vol. 36, 393-405
Keller, J., H. Bless. 2008. When positive and negative expectancies disrupt performance: regulatory focus as a catalyst. European Journal of Social Psychology Vol. 38, 187-212
Khan, M., R. L. Watts. 2009. Estimation and empirical properties of a firm-year measure of accounting conservatism. Journal of Accounting and Economics 48, 132-150
Kraver, T. D., 2014. Accounting conservatism and managerial risk-taking: corporate acquisitions. Journal of Accounting and Economics 57, 218-240
LaFond, R., R. L. Watts. 2008. The information role in conservatism. Accounting Review Vol. 43, 447-478
Lockwood, P., C. H. Jordan, Z. Kunda. 2002. Motivation by positive and negative role models: Regulatory focus determines who will best inspire us. Journal of Personality and Social Psychology 83, 854-864
Li, X. 2010. Accounting conservatism and cost of capital: international analysis. Working paper. London Business School.
Malmemdier, U., G. Tate. 2005. Does overconfidence affect corporate investment? Journal of Finance Vol.60, 2661-2770
Malmemdier, U., G. Tate. 2005. Does overconfidence affect corporate investment? CEO overconfidence measure revisited. European Financial Management Vol. 11, 649-659
Malmemdier, U., G. Tate. 2008. Who makes acquisition? CEO overconfidence and the market’s reactions. Journal of Financial Economics 89, 20-43
Nikolaev, V. V., 2010, Debt covenants and accounting conservatism. Journal of Accounting Research vol. 48 No. 1
Ortiz-Molina, H., Penas, M.F., 2008. Lending to small businesses: the role of loan maturity in addressing information problems. Small Business Economics 30, 361–383.
Pattershall, J., S. Eidelman, D. Beike. 2012. Regulatory focus and affective recall. Motivation and Emotion Vol. 36, 396-403
Pendergast, C. 2002. The tenuous trade-off of risk and incentives. Journal of Political Economy 110, 1071-1102
Pennebaker, J. W., R. J. Booth, M. E. Francis. 2007. LIWC2007. Linguistic inquiry and word count. Austin, Texas
Pennington, G. L., N. J. Roese. 2003. Regulatory focus and temporal distance. Journal of Experimental Social Psychology Vol.39, 563-576
Pope, P. F., M. Walker. 1999. International Differences in the Timeliness, Conservatism and Classification of Earnings. Journal of Accounting Research Vol. 37, 53-87
Pope, P. F. and Walker, M. 2003.Ex-ante and ex-post accounting conservatism, asset recognition and asymmetric earnings timeliness, Working Paper, Lancaster University and The University of Manchester.
Ramalingegowda, S., Y. Yu. 2012. Institutional ownership and conservatism. Journal of Accounting and Economics 53, 98-113
Roychowdury S., R. L. Watts. 2007. Asymmetric timeliness of earnings, market-to-book and conservatism in financial reporting. Journal of Accounting and Economics Vol. 44, 2-31
Schrand, C., Zechman, S., 2012. Executive overconfidence and the slippery slope to financial misreporting. Journal of Accounting and Economics Vol. 53, 311-329
Sengupta, P. 1998. Corporate Disclosure Quality and the Cost of Debt. The Accounting Review Vol. 73, 459-474
Shuto, A. and T. Takada. 2010. Managerial Ownership and Accounting Conservatism in Japan: A Test of Management Entrenchment Effect. Journal of Business and Accounting, 1-25
Sias, R., L. Starks, S. Titman. 2006. Changes in institutional ownership and stock returns: assessment and methodology. Journal of Business 79, 2869-2910
Sitkin, S. B., A. L. Pablo. 1992. Reconceptualizing the determinants of risk behavior. The Academy of Management Review Vol. 17, 9-38
Smith, C. W., J. B., Warner. 1979. On financial contracting: An analysis of bond covenants. Journal of Financial Economics 8, 23-40
Spiegel, S., H. Grant-Pillow, E. T. Higgins. 2004. How regulatory fit enhances motivational strength during goal pursuit. Journal of Social Psychology 34, 39-54
Sunder, J., S. V. Sunder, and J. Zhang. 2008. Borrower Conservatism and Private Debt Contracting. Working Paper.Northwestern University
Uhlmann, E. L., K. Leavitt, J. I. Menges, J. Koopman, M. D. Howe, R. E. Johnson. 2012. Getting explicit about the implicit: A taxonomy of implicit measures and guide for their use in organizational research. Organizational Research Methods 15, 553-601
Watts, R. L., J. L. Zimmerman. 1978. Toward a positive theory of the determination of accounting standards. The Accounting Review Vol. 53, 112-134
Watts, R. L., 2003. Conservatism in accounting part 1: Explanations and implications. Accounting Horizons Vol. 17, 207-221
Watts, R. L., 2003. Conservatism in accounting part 2: Evidence and research opportunities. Accounting Horizons Vol. 17, 287-301
Walther, B. 1997. Investor sophistication and marker earnings expectations. Journal of Accounting Research, 157-179
Weibash, M. 1998. Outside directors and CEO turnover. Journal of Financial Economics 20, 431-460
Zhang, J., 2007. The contracting benefits of accounting conservatism to lenders and borrowers. Journal of Accounting and Economics 45, 27-54
Zhou, R., M. T. Pham, 2004. Promotion and prevention across mental accounts: When financial products dictate consumers’ investment goals. Journal of Consumer Research Vol. 31, 125-135


QRCODE
 
 
 
 
 
                                                                                                                                                                                                                                                                                                                                                                                                               
第一頁 上一頁 下一頁 最後一頁 top
無相關點閱論文