董事會特質對GAAP盈餘可比較性、Non-GAAP盈餘可比較性之影響

Abstract

本研究旨在探討董事會特質對公司 GAAP 盈餘和非 GAAP盈餘可比較性的影響。本研究選取2003年至2020年美國公司共16,402筆樣本進行迴歸分析。

實證結果顯示，董事會規模和獨立董事比例對 GAAP 盈餘可比較性有正向影響；CEO同時擔任董事會主席對GAAP盈餘可比較性有負向影響；董事同時擔任其他公司之董事職位平均數量對 GAAP 盈餘可比較性沒有顯著影響。此外，董事會特質透過影響 GAAP 盈餘可比較性，影響非 GAAP 盈餘可比較性，但對非 GAAP 盈餘可比較性的直接影響不顯著。

關鍵詞：GAAP盈餘、非GAAP盈餘、可比較性、董事會特質、獨立性

This paper aims to investigate the impact of board characteristics on the comparability of GAAP and non-GAAP earnings in US firms from 2003 to 2020, using a sample of 16,402 observations for regression analysis. Empirical results indicate that board size and the proportion of independent directors positively affect the comparability of GAAP earnings. In contrast, the CEO''s dual role as CEO and chairman of the board negatively impact GAAP earnings comparability. Furthermore, the average number of directorships held by directors in other companies does not significantly affect the comparability of GAAP earnings. Additionally, the study finds that board characteristics indirectly affect non-GAAP earnings comparability through their impact on GAAP earnings comparability, but the direct effect on non-GAAP earnings comparability is insignificant.

Keywords: GAAP Earnings, Non-GAAP Earnings, Comparability, Board Characteristics, Independence