財務報表可比性、無形資產與權益資金成本__臺灣人文及社會科學引文索引資料庫

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題名：	財務報表可比性、無形資產與權益資金成本
書刊名：	管理與系統
作者：	李貴富／陳韻珊／韓沂璉／杜昀容
作者(外文)：	Li, Kuei-fu／Chen, Yuan-shan／Han, Yi-lien／Tu, Yun-jung
出版日期：	2017
卷期：	24:1
頁次：	頁103-134
主題關鍵詞：	可比性；盈餘品質；無形資產；權益資金成本；Comparability；Earnings quality；Intangible assets；Cost of equity capital
原始連結：	連回原系統網址
相關次數：	被引用次數:期刊(0) 博士論文(0) 專書(0) 專書論文(0) 排除自我引用:0 共同引用:136 點閱:12

本研究旨在探討財務報表可比性是否對事前權益資金成本產生影響，以及投資人處理較複雜的資訊時 (即無形資產)，可比性與權益資金成本間原有的關聯性是否有不同的影響。以台灣2003 年到2011 年上市與上櫃公司為研究對象，並參照DeFranco et al. (2011) 衡量可比性，研究結果發現在控制公司規模、成長性、負債比率與系統性風險後，可比性較高的公司，其事前權益資金成本也較低。此外，當無形資產密集度或研發密集度較高，則可比性對資金成本的效益也較高。

以文找文

The aim of this study is to investigate the relationship between the comparability of financial statements and the ex-ante cost of capital and the effect of information complexity (i.e. intangible assets) on the comparability- cost of equity capital relationship. Using data from Taiwan listed firms between 2003 and 2011 and the measure of comparability developed by DeFranco et al. (2011), this paper documents a significantly negative relationship between the comparability of company financial statements and the ex-ante cost of equity capital even after controlling for previously documented determinants of the cost of capital. Otherwise, this paper also documents that this negative association is greater for firms with more recognized intangible assets or higher research and development intensity.

以文找文

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研究報告
1.	Leuz, C.、Wysocki, P. D.(2008)。Economic consequences of financial reporting and disclosure regulation: A review and suggestions for future research。University of Chicago, Massachusetts Institute of Technology。
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圖書
1.	Financial Accounting Standards Board(1980)。Statement of Financial Accounting Concepts No.2: Qualitative Characteristics of Accounting Information。FASB on FAF。
2.	Pratt, Shannon P.(2001)。Business Valuation: Discounts and Premiums。NY：John Wiley & Sons。

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