臺灣人文及社會科學引文索引資料庫系統

:::

詳目顯示

回上一頁
第 1 筆 / 總合 1 筆   第一頁 上一頁 下一頁 最後一頁
/1頁
題名：資訊揭露評鑑系統對投資者未來盈餘評價能力、分析師盈餘預測與會計師查核意見型態之影響
作者：方俊儒
作者(外文)：Chun-Ju Fang
校院名稱：國立中山大學
系所名稱：企業管理學系研究所
指導教授：張瑞當
學位類別：博士
出版日期：2006
主題關鍵詞：會計師查核意見；資訊揭露評鑑系統；未來盈餘評價；分析師盈餘預測；Information disclosure and evaluation system；Analysts’ earnings forecasts；CPA’s audit opinion；Future earnings evaluation
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(0) 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:0
  • 共同引用共同引用:0
  • 點閱點閱:34
企業資訊透明度是健全公司治理的重要前提。證交所及證券櫃檯買賣中心委託證基會對國內上市上櫃公司進行資訊揭露評鑑，希望藉由企業自行揭露更多資訊，降低企業內部與外部人士間資訊不對稱之情況，使得外部人士能取得更完整之資訊，以利其做出更適當之決策。本研究探討該「資訊揭露評鑑系統」的實施，是否能有效改善投資人、證券分析師以及會計師的決策行為。實證結果顯示該評鑑系統實施後，整體而言，投資人對於公司未來盈餘的評價能力已有顯著改善；此外，分析師在預測公司未來盈餘時也比較準確，且彼此間看法也較一致，因此，預測的離散性也顯著降低。然而，評鑑系統的實施，並未對會計師的查核意見型態產生影響。此外，評鑑結果較透明的公司，相較於評鑑結果較不透明的公司，分析師的盈餘預測會較準確；但是，分析師評鑑結果較透明與較不透明之公司，其投資人對公司未來盈餘評價能力，分析師間盈餘預測離散性與會計師的查核意見型態並沒有差異。本研究結果可提供主管當局日後擬定相關政策時之參考。
Information transparency enhances corporate governance. In an attempt to reduce the information asymmetry between business insiders and outsiders and to allow outsiders to have more information for decision making by disclosing more corporate information voluntarily, the Taiwan Stock Exchange Corporation (TSEC) and Over-The-Counter Securities Exchange (OTCE) requested the Securities & Futures Institute (SFI) to implement an information disclosure and evaluation system for all publicly traded and OTC companies listed in TSEC. This study investigates the effects of the system on decision behavior of the investors, analysts, and auditors. Empirical results indicate that investors’ ability of future earnings evaluation increases, analysts’ earnings forecasts are more accurate, and the earnings forecasts dispersion among the analysts decreases after the system has been implemented. However, the implementation of the system has no effects on the types of audit opinion issued by auditors. Besides, the analysts’ earnings forecasts are more accurate for the “more transparent” companies. However, the differences of future earnings evaluation, earnings forecasts dispersion among the analysts and types of audit opinion between “more transparent” and “less transparent” companies are not significant. These results may provide implication to authorities for making related policies.
張文瀞、周玲臺與林修葳，2003，內部人持股連續變動公司之盈餘 管理行為特性，會計評論，第37期：53-83。new window
張瑞當與方俊儒，2006，資訊揭露評鑑系統對企業盈餘管理行為之 影響，會計評論，第42期：1-22。
張瑞當、方俊儒與曾玉琦，2006，核心代理問題與盈餘管理：董事會結構與外部監督機制之探討，管理學報，forthcoming。new window
張漢傑，2002，從財報資訊透明度看股價能見度，會計研究月刊，第200期：87-93。
陳依蘋，2002，透明度與企業價值，會計研究月刊，第200期：48-54。
陳曉珮與高儀慧，2004，上市櫃公司資訊揭露評鑑系統之介紹與推動現況，證券暨期貨月刊，第22卷，第4期：25-32。
蔡柳卿與許敏政，2004，分析師預測與審計意見是否反映應計項目對盈餘品質之影響？管理會計，第67期：1-14。
薛明玲，2002，資訊透明度與企業競爭力，會計研究月刊，第200期：14-15。
薛明玲與蔡朝安，2003，從資訊揭露看公司治理，月旦法學雜誌，第96卷：335-343。
Ahmed, K. and J. K. Courtis. 1999. Association between corporate characteristics and disclosure levels in annual reports: A meta-analysis. The British Accounting Review 31(1): 36-51.
Balsam S., J. Krishnan and J. S. Yang. 2003. Auditor industry specialization and earnings quality. Auditing: A Journal of Practice and Theory 22(2): 71-97.
Barron, O., C. O. Kile and T. B. O’Keefe. 1999. MD&A quality as measured by the SEC and analysts’ earnings forecasts. Contemporary Accounting Research 16(1): 75-109.
Becker, C. L., M. L. DeFond, J. Jiambalvo and K. R. Subramanyam. 1998. The effect of audit quality on earnings management. Contemporary Accounting Research 15(1): 1-21.
Berger, P. and R. Hann. 2003. The impact of SFAS 131 on information and monitoring. Journal of Accointing Research 41(2): 163-223.
Botosan, C. A. 1997. Disclosure level and the cost of equity capital. The Accounting Review 72(3): 323-349.
Bradshaw, M., S. Richardson and R. Sloan. 2001. Do analysts and auditors use information in accruals? Journal of Accounting Research 39(1): 45-74.
Bricker, R., G. Previts, T. Robinson and S. Young. 1995. Financial analyst assessment of company earnings quality. Journal of Accounting Auditing and Finance 10(3): 541-554.
Chang, J., T. Khanna and K. Palepu. 2000. Analysts activity around the world. Working Paper. HBS Strategy Unit.
Cho, J. and C. Harter. 1995. The relation between predisclosure information and the dispersion of financial analysts’ forecasts of earnings. Journal of Business Finance and Accounting 22(6): 855-865.
Collins, D. W., S. P. Kothari, J. Shanken and R. G. Sloan. 1994. Lack of timeliness and noise as explanations for the low contemporaneous return-earnings association. Journa of Accounting and Economics 18(3): 289-324.
Dopuch, N., R. W. Holthansen and R. W. Leftwich. 1987. Predicting audit qualifications with financial and market variables. The Accounting Review 62(3): 431-454.
Dorfman, J. R. 1991. Analysts devote more time to selling as firms keep scorecard on on performance. The Wall Street Journal October 29: C1-C2.
Douthett, E. B., J. E. Duchac, I. M. Haw and S. C. Lim. 2003. Differential levels of disclosure and the earnings-return association: evidence from foreign registrants in the United States. The International Journal of Accounting 38(2): 145-162.
Elliott, R. K. and P. D. Jacobson. 1991. U.S. accounting: A national emergency. Journal of Accountancy 172(5): 54-58.
Ettredge, M. L., S. Y. Kwon, D. B. Smith and P. A. Zarowin. 2005. The impact of SFAS No. 131 business segment data on the market’s ability to anticipate further earnings. The Accounting Review 80(3): 773-804.
Fields, T. D., T. Z. Lys and L. Vincent. 2001. Empirical research on accounting choice. Journal of Accounting and Economics 31(1-3): 255-307.
Fishman, M. J. and K. M. Hagerty. 1989. Disclosure decisions by firms and the competition for price efficiency. Journal of Finance 44(3): 633-646.
Gelb, D. and P. Zarowin. 2002. Corporate disclosure policy and the informativeness of stock prices. Review of Accounting Studies 7(1): 33-52.
Glosten, L. and P. Milgrom. 1985. Bid, ask and transaction prices in a specialist market with heterogeneously informed traders. Journal of Financial Economics 14(1): 71-100.
Han, B. and D. Manry. 2000. The implications of dispersion in analysts’ earnings forecasts for future ROE and future returns. Journal of Business Finance and Accounting 27(1/2): 99-125.
Haniffa, R. M. and T. E. Cooke. 2002. Culture, corporate governance and disclosure in Malaysian corporations. Abacus 38(3): 317-349.
Healy, P. M., A. P. Hutton and K. G. Palepu. 1999. Stock performance and intermediation changes surrounding sustained increases in disclosure. Contemporary Accounting Research 16(3): 485-520.
Hope, O. K. 2003a. Accounting policy disclosures and analysts’ forecasts. Contemporary Accounting Research 20(2): 295-321.
Hope, O. K. 2003b. Disclosure practices, enforcement of accounting standards, and analysts’ forecast accuracy: An international study. Journal of Accounting Research 41(2): 235-272.
Hope, O. K. 2003c. Analyst following and the influence of disclosure components, IPOs and ownership concentration. Working Paper. University of Toronto.
Hunton, J., R. Libby and C. Mazza. 2006. Financial reporting transparency and earnings management. The Accounting Review 81(1): 135-157
Imhoff, E. 1992. The relation between perceived accounting quality and economic characteristics of the firm. Journal of Accounting and Public Policy 11(2): 97-118.
Krishnan, J. and J. Krishnan. 1996. The simultaneous relation between auditor switching and audit opinion: An empirical analysis. Accounting and Business Research 26(3): 224-236.
Lang, M. H. and R. J. Lundholm. 1996. Corporate disclosure policy and analyst behavior. The Accounting Review 71(4): 467-492.
Lev, B. and P. Zarowin. 1999. The Boundaries of financial reporting and how to extend them. Journal of Accounting Research 37(2): 353-385.
Lev, B. and S. R. Thiagarajan. 1993. Fundamental information analysis. Journal of Accounting Research 31(2): 190-215.
Lundholm, R. and L. Myers. 2002. Bring the future forward: the effect of disclosure on the return-earnings relation. Journal of Accounting Research 40(3): 809-839.
Mallin, C. 2002. The relationship between corporate governance, transparency and financial disclosure. Corporate Governance: An International Review 10(4): 253-255.
Miller, G. and J. Piotroski. 2000. Forward-Looking earnings statements: Determinants and market response. Working Paper. Harvard Business School.
Palepu, K., V. Bernard and P. Healy. 1997. Introduction to Business Analysis and Valuation. Cincinnati, Ohio: South-Western Publishing Co.
Parkash, M., D. S. Dhaliwal and W. K. Salatka. 1995. How certain firm-specific characteristics affect the accuracy and dispersion of analysts’ forecasts. Journal of Business Research 34(3): 161-169.
Rimerman, T. W. 1990. The changing significance of financial statements. Journal of Accountancy 169(4): 79-83.
Schipper, K. 1989. Commentary on earnings management. Accounting Horizons 3(4): 91-102.
Sengupta, P. 1998. Corporate disclosure quality and the cost of debt. The Accounting Review 73(4): 459-474.
Sloan, R. G. 1996. Do stock prices fully reflect information in accruals and cash flows about future earnings. The Accounting Review 71(3): 289-315.
Teoh, S. H., I. Welch and T. J. Wong. 1998. Earnings management and the underperformance of seasoned equity offerings. Journal of Financial Economics 50(1): 63-99.
Trueman, B. and S. Titman. 1988. An explanation for accounting income smoothing. Journal of Accounting Research 26(supplement): 127-139.
Vanstraelen, A., M. Zarzeski and S. Robb. 2003. Corporate nonfinancial disclosure practices and financial analyst forecast ability across three European countries. Journal of International Financial Management and Accounting 14(3): 250-278.
Verrecchia, R. E. 1983. Discretionary disclosure. Journal of Accounting and Economics 5(3): 179-194.
Welker, M. 1995. Disclosure policy, information asymmetry, and liquidity in equity markets. Contemporary Accounting Research 11(2): 801-82.
Xie, H. 2001. The mispricing of abnormal accruals. The Accounting Review 76(3): 357-373.
Zarzeski, M. T. 1996. Spontaneous harmonization effects of culture and market forces on accounting disclosure practices. Accounting Horizon 10(1): 18-37.
 
 
 
 
第一頁 上一頁 下一頁 最後一頁 top
:::
無相關著作
 
QR Code
QRCODE

臺灣人文及社會科學引文索引資料庫

目前上線人數：973（臺灣：955，外國：18） ／ 本年度總使用人次：1780212 ／ 訪客人次（自102年09月）：67590090
國家圖書館著作權聲明 Copyright © 2013 All rights reserved.
本館地址: 100201臺北市中山南路20號． 本館地圖及交通資訊．
總機：(02)23619132．最佳瀏覽解析度為1024x768以上