本文探討公司是否會藉由重分類損益表科目來做為盈餘管理之工具。根據McVay (2006)，公司為了提高核心盈餘(core earnings)，公司會將核心費用重分類至特別損益科目(special items)，此盈餘管理將於下一期迴轉。本文除了延續McVay (2006)測試並發現台灣上市公司會把核心費用重分類至特別項目以外，本文另外發現母公司報表中，台灣上市母公司也會把核心費用轉移至關係企業中認列費用，並反映於母公司損益表中非營業項目科目－投資損益。藉由核心費用重分類至特別損益以及投資損益，公司母公司報表中之核心盈餘將可因此提升。

This paper examines whether firms manage earnings by classification shifting through affiliates. Classification shifting involves reporting revenues, expenses, gains, and losses on a different line in the income statement from what GAAP requires. Consistent with McVay (2006), our results show that those firms with income-decreasing special items have significantly large unexpected core earnings, and the unexpected core earnings will reverses in the year after a firm reports special items. We also find that, in the parent company report, firms with income-decreasing income from investments have significantly large unexpected core earnings, and the unexpected core earnings reverses in the following year. Overall, the evidence is consistent with our prediction that the accounts of "special items" and "incomes from investments" can be used to inflate core earnings.