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研究生:李逸婷
研究生(外文):LEE, YI-TING
論文名稱:影響衍生性商品避險揭露品質決定因素之探討
論文名稱(外文):Derivative instrument, Hedge, Information Disclosure Quality, Audit Quality
指導教授:林瑞青林瑞青引用關係
指導教授(外文):LIN, RUEY-CHING
口試委員:蔡彥卿陳宗岡
口試委員(外文):TSAI, YANN-CHINGCHEN, TSUNG-KANG
口試日期:2017-06-13
學位類別:碩士
校院名稱:輔仁大學
系所名稱:會計學系碩士班
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:2017
畢業學年度:105
語文別:中文
論文頁數:55
中文關鍵詞:衍生性商品避險資訊揭露品質審計品質
外文關鍵詞:Derivative instrumentHedgeInformation Disclosure QualityAudit Quality
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  過去研究指出,財報之揭露品質會影響財務報表使用者之決策,資訊揭露品質可提高公司治理功效,降低資訊不對稱,提升利害關係人對公司之信賴。衍生性商品為財報中複雜且高槓桿之項目,財報使用者難以掌握其真實風險,故SFAS No.161之實施係為提升衍生性商品避險之揭露品質,要求企業以更有系統且明確之方式揭露資訊,提升資訊之可靠性,降低利害關係人之疑慮。本研究參考Chen and Liao(2015)之方法,計算衍生性商品避險之揭露分數作為揭露品質之代理變數,探討影響衍生性商品避險揭露品質之因素,研究結果指出,審計品質與揭露品質呈正相關,顯示經過高審計品質之查核可提升財報資訊之透明度,提供財報使用者獲得更明確且詳細之資訊;衍生性商品-資產占總資產之比率亦與揭露品質呈正相關,代表企業操作較多衍生性商品時,會揭露較完整之資訊,揭露品質較佳。
  Previous Studies show that the disclosure quality of financial statement will affect the decision-making of users. High disclosure quality enhances the efficiency of corporate governance, reduces the information asymmetry and improves the trust of the stakeholders. Financial statement users are hard to grasp real risk of derivative instruments since derivative instruments are highly leveraged and complicated itself. Therefore, the implementation of SFAS No.161 is to improve information disclosure quality of derivative instrument, requiring the firm to disclose more systematically and enhance the reliability of information. The purpose of this study is to explore the factors that affect the disclosure quality. We use disclosure score as proxy for information disclosure quality. The empirical results show that the audit quality is positively correlated with information disclosure quality. It suggests that a high quality audit can enhance the transparency of information and provide more distinct and detailed information for financial statement users. Moreover, the ratio of derivative financial assets to total assets is also positively correlated with information disclosure quality. It means that if managers operating more derivative instruments, they will disclose more detailed information.
目錄
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 3
第三節 論文架構 4
第二章 文獻探討 5
第一節 衍生性商品及避險會計準則規範之發展 5
第二節 衍生性商品相關文獻回顧 7
第三節 資訊揭露品質與審計品質之相關文獻 10
第三章 研究方法 14
第一節 研究假說 14
第二節 實證模型 17
第三節 變數之定義與衡量 19
一、 應變數之衡量 19
二、 自變數之衡量 20
第四節 樣本選取與資料來源 22
一、 研究期間 22
二、 樣本選取 22
第四章 實證結果 26
第一節 敘述性統計 26
第二節 追蹤資料迴歸分析 36
一、 追蹤資料單迴歸分析 36
二、 追蹤資料複迴歸分析 40
三、 敏感性分析 40
第五章 結論與建議 45
第一節 研究結論 45
第二節 研究限制 47
第三節 研究建議 48
參考文獻 49

表次
表3 1:SIC產業分類表 23
表3 2:樣本篩選表 24
表3-3:樣本公司產業、年度分布狀況 25
表4 1:敘述性統計量-產業之揭露分數 29
表4 2:單變量分析-以產業之揭露品質區分 30
表4 3:敘述性統計量 31
表4 4:單變量分析-以SFAS 161區分 32
表4 5:單變量分析-以四大及非四大事務所區分 33
表4 6:相關係數分析表 34
表4 7:追蹤資料單迴歸分析結果-BIG4 38
表4 8:追蹤資料單迴歸分析結果-DEV 38
表4 9:追蹤資料複迴歸分析結果-BIG4(控制規模) 39
表4 10:追蹤資料複迴歸分析結果-DEV(控制規模) 39
表4 11:追蹤資料複迴歸分析結果 42
表4 12:追蹤資料複迴歸分析結果-DEV_T 44
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