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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 劉啟群(Chi-Chun Liu) | |
dc.contributor.author | Tsung-Han Lin | en |
dc.contributor.author | 林宗翰 | zh_TW |
dc.date.accessioned | 2021-06-15T00:15:50Z | - |
dc.date.available | 2010-08-21 | |
dc.date.copyright | 2009-08-21 | |
dc.date.issued | 2009 | |
dc.date.submitted | 2009-06-10 | |
dc.identifier.citation | 丁雪娥,2005,保守性會計下會計資訊與股票報酬之關聯性,國立台灣大學會計學研究所碩士論文。
朱育男,2006,金融機構的盈餘傳遞與治理機制之研究,中央大學財務金融研究所碩士論文。 吳大成,2002,會計穩健原則對會計盈餘影響:台灣上市公司財務報表表達是否愈來愈保守,國立成功大學會計學研究所碩士論文。 林佳穎,2006,我國財務報表穩健特性及穩健原則攸關價值之研究,國立成功大學會計學研究所碩士論文。 張婉煜,2008,租稅對財務報表穩健影響之研究:理論與實務,國立成功大學研究所碩士論文。 Ahmed, A. S., B. K. Billings., R. M. Morton., and M. S. Harris. 2002. The role of accounting conservatism in mitigating bondholder-shareholder conflicts over dividend policy and in reducing debt costs. The Accounting Review 77: 867-890. Ball, R., and P. Brown. 1968. An empirical evaluation of accounting income numbers. Journal of Accounting Research 6: 159-178. Ball, R., S.P. Kothari., and A. Robin, 2000. The effort of international institutional factors on properties of accounting earnings. Journal of Accounting and Economics 29: 1-151. Basu, S. 1997. The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics 24: 3-37. Beaver, W. H., R. Lambert, and D. Morse. 1980. The information content of security prices. Journal of Accounting and Economics 2: 3-28. Beaver, W. H., R. Lambert, and S. Ryan. 1987. The information content of security prices: A second look. Journal of Accounting and Economics 9: 139-157. Beaver, W. H., and S. Ryan. 2000. Biases and lags in book value and their effects on the ability of the book-to-market to predict book return on equity. Journal of Accounting Research 38(1): 127-148. Beaver, W. H., and S. Ryan. 2005. Conditional and unconditional conservatism: concepts and modeling. Review of Accounting Studies 10: 269-309. Feltham, G. A., and J. A. Ohlson. 1995. Valuation and clean surplus accounting for operating and financial activities. Contemporary Accounting Research 11: 689-731. Feltham, G. A., and J. A. Ohlson. 1996. Uncertainty resolution and the theory of depreciation measurement. Journal of Accounting Research 34: 209-234. Givoly, D., and C. Hayn. 2000. The changing time-series properties of earnings, cash flows and accruals: has financial reporting become more conservative? Journal of Accounting and Economics 29: 287-320. Mason, L. 2004. The impact of accounting conservatism on the magnitude of the differential information content of cash flows and accruals. Journal of accounting, auditing & Finance 19: 249-282. Ryan, S. G., and P. A. Zarowin. 2003. Why has the contemporaneous linear return-earnings relation declined? The Accounting Review Vol. 78, No. 2:523-553. Watts, R. 2003a. Conservatism in accounting part I: explanations and implications. Accounting Horizons 17: 207-221. Watts, R. 2003b. Conservatism in accounting part II: evidence and research opportunities. Accounting Horizons 17: 287-301. | |
dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/41324 | - |
dc.description.abstract | Basu(1997)利用盈餘不對稱模式來測試盈餘是否存在穩健特性,利用價格領先盈餘的假設,認為盈餘對於好壞消息會有認列的不對稱性。他使用當期股價報酬率作為好壞消息的代理變數,當股價報酬率為正數時,代表好消息;股價報酬率為負數時,則代表壞消息,藉此測試當期會計盈餘對於當期股價報酬率反應的特性。結果顯示盈餘對於好消息的反應較具持續性,而對於壞消息的反應則較具及時性。
本研究根據Basu(1997)的論文為基礎,加入多期的概念,測試盈餘是否會受到累積股價報酬率的影響。以及在價格領先盈餘的假設下,根據穩健原則,在本研究加入多期的概念之後,好消息是否對於會計盈餘的影響具有持續性,而壞消息是否對於會計盈餘的影響具有及時性,這是本研究的主要研究目的。 本研究以1994年到2007年的所有上市櫃公司為樣本,建立非變數相加模型與變數相加模型,以不同期間範圍的各期累積股價報酬率對於當期會計盈餘進行迴歸分析。實證結果顯示前幾期股價報酬率對於當期盈餘具有顯著影響,也就是價格確實領先盈餘。而根據穩健原則,在多期的概念下,盈餘對於好消息的反應確實具有持續性,對於壞消息的反應則較具有及時性。但是壞消息的反應時間很長,並沒有本研究預期中來得短,本研究認為可能是因為台灣的上市櫃公司較不穩健的緣故。這可能是因為前幾年台灣的會計準則制訂機構較忽略穩健原則的應用,給予企業較大的裁量權,使得公司選擇用較有利的方式來報導財務報表。而近幾年來會計準則被要求要貼近市場真正價值,因此制訂公平價值會計,要使財務報表更具有攸關性,導致企業擁有更高的裁量權,因此採用對會計盈餘較有利的方法來使用,所以壞消息才會沒有如預期中這麼快反應完畢。 | zh_TW |
dc.description.abstract | Basu(1997) used the asymmetric timeliness of earnings to test whether conservatism exists in earnings. Based on the assumption of price leads earnings, he thought the asymmetry in recognition led to differences between bad news and good news periods in the timeliness and persistence of earnings. He used concurrent unexpected stock returns to be the proxy variables of good news and bad news. When the unexpected return is positive, it is good news; when the unexpected return is negative, it is bad news. The result indicated that earnings is more persistent to publicly available good news, and is more timely to bad news.
Based on Basu’s research, we add the concept of multi-period to test whether earnings will be influenced by accumulated stock returns. According to the assumption of price leads earnings and conservatism, our main objective is to test when we extend the concept of multi-period, whether the earnings is still more persistent to good news and more timely to bad news. The sample includes all TSE-listed and OTC-listed companies from 1994 to 2007. We establish non variable-adding model and variable-adding model to regress annual earnings on different periods of accumulated stock returns. The result indicates that price indeed leads earnings, and under the multi-period and the conservatism, earnings is more persistent to good news and more timely to bad news. But the reactive time of bad news is not short enough as we expect. We think the possible reason is that companies in Taiwan are not conservative enough. One explanation is few years ago, the accounting standard board in Taiwan neglected conservatism, and that made companies choose favorable manners to report in financial statements. The other explanation is that in recent years, accounting standards are asked to show the true value of businesses, so the accounting standard board establishes fair value accounting to make financial reports full of more relevance. It makes companies more discretionary to choose favorable manners to report earnings. Therefore, bad news doesn’t react completely as we expect. | en |
dc.description.provenance | Made available in DSpace on 2021-06-15T00:15:50Z (GMT). No. of bitstreams: 1 ntu-98-R96722030-1.pdf: 1062568 bytes, checksum: ffcbf9f5a9f5cbec69e410633aa65763 (MD5) Previous issue date: 2009 | en |
dc.description.tableofcontents | 謝辭..... i
中文摘要 ii Abstract iii 目錄.... v 圖目錄... vii 表目錄.. viii 第一章 緒論 1 第一節 研究動機 1 第二節 研究目的 3 第三節 研究架構 3 第二章 文獻探討與假說建立 6 第一節 價格領先盈餘與相關文獻 6 第二節 穩健原則 7 第三節 穩健原則之相關文獻 9 一、穩健原則與合約構面 10 二、穩健原則與股東訴訟構面 11 三、穩健原則與課稅構面 11 四、穩健原則與會計法令構面 12 五、穩健原則的衡量方式 12 第四節 假說建立 16 一、價格領先盈餘 16 二、穩健原則下資訊認列不對稱之多期性研究 17 第三章 研究方法 18 第一節 研究模型與變數定義 18 一、研究模型 18 二、迴歸模型 19 三、變數定義 23 第二節 樣本選取與資料來源 24 第四章 實證結果與分析 27 第一節 敘述性統計 27 第二節 相關係數 28 第三節 迴歸分析 29 一、價格領先盈餘模型 29 二、穩健原則下的資訊認列不對稱性模型 30 第五章 結論與建議 33 第一節 研究結論 33 第二節 研究限制 34 第三節 建議未來研究方向 35 參考文獻 36 附錄一.. 51 附錄二.. 64 附錄三.. 77 附錄四.. 90 附錄五.. 103 | |
dc.language.iso | zh-TW | |
dc.title | 穩健原則下資訊認列不對稱之多期性研究 | zh_TW |
dc.title | Study on The Asymmetric Timeliness of Information
Under The Multi-Period and The Conservatism Principle | en |
dc.type | Thesis | |
dc.date.schoolyear | 97-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 杜榮瑞(Rong-Ruey Duh),吳清在(Tsing-Zai Wu) | |
dc.subject.keyword | 穩健原則,資訊認列不對稱,價格領先盈餘,好消息,壞消息,持續性, | zh_TW |
dc.subject.keyword | conservatism,asymmetric timeliness of information,price leads earnings,good news,bad news,persistence,timeliness, | en |
dc.relation.page | 115 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2009-06-11 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 會計學研究所 | zh_TW |
顯示於系所單位: | 會計學系 |
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