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題名:股權結構、監督效能與盈餘管理的選擇
作者:李麗芬
作者(外文):Lee,Li-Feng
校院名稱:國立彰化師範大學
系所名稱:財務金融技術學系
指導教授:吳明政
學位類別:博士
出版日期:2018
主題關鍵詞:應計項目盈餘管理實質盈餘管理實施庫藏股家族企業獨立董事審計品質accruals-based earnings managementreal earnings managementstock repurchasefamily firmsindependent directorsaudit quality
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本文探討企業股權結構特性、公司治理內外部監督機制,對選擇應計項目盈餘管理、實質盈餘管理及買回庫藏股(實質盈餘管理的另一種型態)三種盈餘管理方法的影響。實證結果發現企業存在盈餘管理動機時,家族企業會採用應計項目盈餘管理而非實質盈餘管理。外部監督機制之審計品質會降低應計項目盈餘管理及實質盈餘管理之行為,而內部監督機制之獨立董事則無顯著影響。家族企業會抑制實施庫藏股,因買回庫藏股乃公司財務營運決策,獨立董事及審計品質皆對此決策無影響。
This paper explores the impact of ownership structure and corporate governance on the choice of accruals-based earnings management, real earnings management and stock repurchase (a form of real earnings management mechanism).
The empirical results show that family firms more likely engage in accruals-based earnings management and decrease the use of other real earnings. The corporate governance special audit quality is positively associated with both accruals-based and real earnings management, but not independent directors.
Finally, the evidence in the paper shows that family firms is negatively associated with stock repurchase. Audit quality and independent directors will not have impacts on stock repurchase decision.
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