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題名：海外投資區位選擇、家族企業與盈餘品質
書刊名：中山管理評論
作者：陳俞如 引用關係／謝存瑞 引用關係
作者(外文)：Chen, Yu-ju／Hsieh, Tsun-jui
出版日期：2015
卷期：23:4
頁次：頁1085-1124
主題關鍵詞：海外投資區位選擇；家族企業；盈餘品質；超額董事席次控制權；Location choice；Family business；Earning quality；Excess board seats control rights
原始連結：連回原系統網址new window
相關次數：
  • 被引用次數被引用次數:期刊(11) 博士論文(1) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:11
  • 共同引用共同引用:177
  • 點閱點閱:71
在企業的國際化過程中，跨國投資加重管理者和外部投資者的資訊不對稱，提高公司的代理問題及盈餘管理現象，故而本研究將探討公司海外投資區位選擇對盈餘品質之影響。由於台灣上市公司大多為家族企業，且存在著嚴重的控制股東侵佔小股東利益的代理問題，因而本研究將同時針對家族企業與非家族企業兩群樣本進行分析，分析家族企業進行海外投資降低盈餘品質的現象是否有較明顯。本研究以2001 至2010 年之上市(櫃)公司為研究對象，研究發現當公司海外子公司屬於經濟合作暨發展組織(Organization forEconomic Cooperation and Development)所列的「不合作的租稅庇護所(taxhaven)名單」比例愈高時，公司盈餘品質愈低，顯示海外投資區位的選擇會影響公司的盈餘品質；本文同時發現公司在租稅庇護所地區投資造成公司盈餘品質惡化的情形在公司為家族企業時特別明顯，在非家族企業此種現象較不明顯，且當控制股東「席次控制與盈餘分配權偏離程度」、和「席次控制與股份偏離程度」愈高時，公司在租稅庇護所投資惡化公司盈餘品質的情形也愈明顯。
The purpose of this paper is to investigate the relationships among the local choice of foreign direct investment, family business and earnings quality. The sample includes the public listed companies ranging from 2001 to 2010. The results indicate that international investment leads to complex financial statements and make information asymmetry seriously between managers and outside investors. Our findings suggest that the value-relevance of earnings is significantly smaller for firms that has higher ratio of investing in OECD List of Uncooperative Tax Havens indicating investing location will influence earnings value relevance. We also find that the negative impacts of FDI (Foreign direct investment) location choice on earnings quality will deteriorate in family business as well as in the circumstances when there is a greater divergence between board seats control, cash flow rights and voting rights.
期刊論文
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13.Dyreng, Scott D.、Hanlon, Michelle、Maydew, Edward L.(2012)。Where do firms manage earnings?。Review of Accounting Studies，17(3)，649-687。  new window
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學位論文
1.許永聲(2005)。會計制度權責基礎差異與財務報表資訊品質:國際間之比較(博士論文)。國立臺灣大學。new window  延伸查詢new window
圖書
1.Greene, W. H.(2000)。Econometric analysis。Sage Publications。  new window
2.Knickerbocker, F. T.(1973)。Oligopolistic Reaction and the Multinational Enterprises。Harvard University Press。  new window
圖書論文
1.Buckley, P.、Casson, M.(1976)。New theories of international business。The growth of international business。London：George Allen & Unwin。  new window
 
 
 
 
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