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題名：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
作者：許永聲 引用關係
作者(外文)：Yun-sheng Hsu
校院名稱：國立臺灣大學
系所名稱：會計學研究所
指導教授：王泰昌
學位類別：博士
出版日期：2005
主題關鍵詞：盈餘管理；權責基礎會計；投資人保護；價值攸關；accrual-based accounting；investor protection；earnings management；value relevance
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雖然權責基礎會計制度可改善現金基礎下收益與費用認列不一致的缺失、提高財務報表資訊的價值，但文獻上卻認為權責會計下的企業盈餘管理行為是一個普遍的現象，而且這個普遍的盈餘管理行為可能反而會減損財務報表的資訊價值。對此不利的影響，Hung (2001)認為可以利用提高投資人保護程度的方式降低企業投機性盈餘管理行為，以維護權責會計提高財務報表資訊價值的目的。
但本文認為Hung (2001)的觀點忽略了高投資人保護制度與權責會計之間的因果關係，以及資訊性盈餘管理存在的事實。本文修正Hung (2001)的研究，在權責會計為高投資人保護制度結果的基礎下，同時考慮資訊性及投機性盈餘管理行為，利用1991年至2002年間，17個國家共32,340個產業類公司的公司/年度觀察值進行分析，重新檢定投資人保護及權責會計對盈餘管理程度及財務報表資訊價值攸關程度的影響。
實證結果發現投資人保護會降低企業的盈餘管理程度，並且增加財務報表資訊價值的攸關程度。至於權責會計的影響，在低投資人保護的環境下，權責會計會促進企業的資訊性及投機性盈餘管理行為，在資訊性盈餘管理傾向的情況下，權責會計會增加財務報表資訊的價值攸關程度，但在投機性盈餘管理傾向的情況，則會降低此攸關程度；而在高投資人保護的環境，權責會計對企業資訊性或投機性盈餘管理行為的影響雖然並不明顯，但是在資訊性盈餘管理傾向的情況，權責會計會增加財務報表資訊的價值攸關程度，而且在投機性盈餘管理傾向的情況，並未發現權責會計對財務報表資訊的價值攸關程度有不利的影響。
此結果說明，就增加財務報表資訊價值的角度而言，在高投資人保護或企業盈餘管理行為傾向於資訊性盈餘管理的情況下，權責基礎是會計制度應採行的方向；但是在低投資人保護且企業盈餘管理行為傾向於投機性盈餘管理的情況下，採行權責會計制度之前，應先從提高投資人保護程度或改進企業的投機性盈餘管理行為著手。
Although accrual-based accounting can improve the temporal discrepancies between revenue and expense recognition found in cash-based accounting and raise the value of financial reporting information, the literature on the subject holds that earnings management behavior is a general phenomenon in accrual-based accounting, and that such earnings management behavior may impair the value of financial reporting information. On this disadvantageous influence, Hung (2001) holds that the method of raising the level of investor protection can lower opportunistic earnings management behavior in order to protect the goal of accrual-based accounting raising the value of reported financial information.
But this paper argues that Hung’s (2001) viewpoint ignores the causal relationship between a high level of investor protection and accrual-based accounting systems, and the fact that informative earnings management behavior also exists. The present study revises Hung’s (2001) research, by considering that on the basis of having accrual-based accounting as a result of a high level of investor protection, and at the same time considering informative and opportunistic earnings management behavior using 32,340 firms/year observations in 17 countries between 1991 and 2002, to retest the influences of investor protection and accrual accounting on the level of earnings management and the value relevance of financial statements information.
Empirical results uncovered that investor protection lowers the level of opportunistic earning management, and increases the value relevance of financial statements information. As far as the influence of accrual-based accounting goes, in an environment of low investor protection, accrual-based accounting promotes opportunistic and informative earnings management behavior of firms, and where there is a tendency towards informative earnings management behavior, accrual-based accounting increases the value relevance of financial statements information, but where there is a tendency towards opportunistic earnings management, the level of value relevance will be lowered; but in an environment of high investor protection, although the influence of accrual-based accounting on the informative and opportunistic earnings management behavior of firms is unclear, in situations in which there is a tendency towards informative earnings management behavior, accrual-based accounting increases the value relevance of financial statements information, and in situations where there is a tendency towards opportunistic earnings management behavior, there is no finding of a deleterious influence of accrual-based accounting on the value relevance of financial statement information.
The results explain that from the standpoint of increasing the value of financial statements information, in a situation with both high investor protection and a tendency towards informative earnings management by firms, accrual-based accounting is the direction in which the accounting system should go; but where there is low investor protection and a tendency for firms to engage in opportunistic earnings management behavior, there should first be an effort to raise the level of investor protection or change enterprises’ engaging in opportunistic earnings management behavior before adopting accrual-based accounting.
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