The Effects of Directors' and Officers' Liability Insurance on Earnings Conservatism_

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題名：	The Effects of Directors' and Officers' Liability Insurance on Earnings Conservatism
書刊名：	財務金融學刊
作者：	周百隆／林兆欣／許碩芬／楊傑安
作者(外文)：	Chou, Pai-lung／Lin, Chaohsin／Hsu, Shuofen／Yang, Jie-an
出版日期：	2015
卷期：	23:1
頁次：	頁57-83
主題關鍵詞：	董監事及重要職員責任保險；自願性核閱；盈餘保守性；道德風險；Directors' and officers' liability insurance；Voluntary accounting review；Earnings conservatism；Moral hazard
原始連結：	連回原系統網址
相關次數：	被引用次數:期刊(1) 博士論文(0) 專書(0) 專書論文(0) 排除自我引用:1 共同引用:0 點閱:13

本文探討董事及重要職員責任保險的需求因素，及其與自願性核閱是否影響盈餘保守性。實證結果發現公司訴訟風險較高者，董監事（directors and officers, D&O）責任險需求也較高。其次，D&O責任險之保額愈高時，愈容易產生較不保守的盈餘報告。再者，自願性核閱會影響盈餘保守性，且與D&O責任險的購買存在互補關係。

以文找文

We show that firms with greater litigation risk are more likely to purchase directors' and officers' (D&O) insurance. The data do not support the hypothesis that D&O insurance complements the existing monitoring mechanism. Instead, we find strong evidence that the higher the D&O liability coverage, which reduces the expected legal liability of directors and officers, the less conservative the firm's earnings. In addition, we find that firms that voluntarily choose to have a Certified Public Accountant (CPA) review tend to have fewer conservative earnings reports. Moreover, the demand for D&O insurance and the voluntary CPA review are complementary.

以文找文

期刊論文
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研究報告
1.	Boyer, M. M.、M. Delvaux-Derome(2002)。The demand for directors’ and officers’ insurance in Canada。Centre for Interuniversity Research and Analysis of Organizations (CIRANO)。
2.	Jones, Christopher L.、Weingram, Seth E.(1996)。The determinants of 10b-5 litigation risk。

圖書
1.	Cameron, A. Colin、Trivedi, Pravin K.(2010)。Microeconometrics Using Stata。College Station, Texas：Stata Press。
2.	Bliss, James H.(1924)。Management through Accounts。New York, NY：The Ronald Press Company。
3.	Christensen, John A.、Demski, Joel S.(2002)。Accounting Theory: An Information Content Perspective。Boston：McGraw-Hill/Irwin。
4.	Davidson, James(2000)。Econometric Theory。Wiley-Blackwell：Oxford。
5.	Lees, Francis A.(1981)。Public Disclosure of Corporate Earnings Forecasts。New York：The Conference Board。
6.	Company, Wyatt(1993)。Directors and Officers Liability Survey。Chicago：Wyatt Company。
7.	Palepu, Krishna G.、Healy, Paul M.、Bernard, Victor L.(2000)。Business Analysis and Valuation: Using Financial Statement。Cincinnati, OH：South-Western Publishing。

其他
1.	LaCroix, Kevin M.(2014)。The changing European liability landscape and the D&O Insurance marketplace,，http://www.dandodiary.com/2009/11/articles/ international-d-o/the-changing-european-liability-landscape-and-the-do-insu rance-marketplace， 2014/03/17。

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