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Title: | 導入IFRS16對於資金成本之影響 The Impact of IFRS 16 Implementation on Cost of Debts |
Authors: | 吳維祥 Wei-Hsiang Wu |
Advisor: | 許文馨 Wen-Hsin Hsu |
Keyword: | 國際財務報導準則第 16 號,租賃,債務資金成本,租賃負債,債權人,認列與揭露,可讀性, IFRS 16,Lease,Cost of debts,Lease liability,Creditors,Recognition versus disclosure,Readability, |
Publication Year : | 2024 |
Degree: | 碩士 |
Abstract: | IFRS 16要求在財務報表中認列營業租賃負債,而不僅是在附註中揭露而已。我發現在新的租賃標準實施後,那些在調節表中租賃負債高於中位數的公司之債務資金成本增加。這一發現表明,在IFRS 16生效之前,由於債權人可能並未完全納入資產負債表外的營業租賃負債,或者至少在評估公司特定的信用風險時,對附註中的資訊賦予的權重較低,進而導致了注意力偏差,使債權人低估了公司因這些負債而帶來的信用風險,而IFRS 16的採用將可以增強債權人對公司真實信用風險的評估。此外,由於IFRS 16預期將會提高財務報表的可靠性、透明度及負債槓桿,因此我推測那些受IFRS 16影響的公司,其債務資金成本可能會有增加的現象。基於以上,我蒐集了租賃揭露中的調節表資料來做研究,最後實證結果驗證了我的假說。不僅如此,我還發現有關租賃揭露可讀性較高的公司可以減少此債務成本增加的現象。本篇論文的研究限制,主要來自對於可讀性的衡量範圍,由於時間及精力有限,本篇論文所衡量的可讀性範圍為整體財務報告,並非僅針對有關租賃資訊相關的揭露來做衡量。我的研究對認列與揭露及可讀性的文獻做出了貢獻,除此之外,我的研究對標準制定者和實務工作者具有重要意義,因為這些發現可以幫助 IASB 在 IFRS 16實施後審查其影響。 IFRS 16 requires the inclusion of operating lease liabilities in financial statements rather than just disclosing them in footnotes. The implementation of the new lease standard resulted in an increase in the cost of debts for companies with lease liabilities above the median on reconciliations tables. This finding suggests that prior to the implementation of IFRS 16, creditors may not have fully accounted for off-balance-sheet operating lease liabilities, or at least placed less weight on the information in the notes when assessing a company''s specific credit risk. This likely led to an attention bias, causing creditors to underestimate the credit risk posed by these liabilities. The implementation of IFRS 16 will enhance creditors'' assessment of a company''s true credit risk. Furthermore, since IFRS 16 is expected to enhance reliability, transparency, and leverage of liabilities, I hypothesize that companies affected by IFRS 16 may experience an increase in their cost of debts. Based on this premise, the reconciliation table data from lease disclosures is collected for the research and the empirical results ultimately confirmed my hypothesis. Additionally, companies with higher readability in lease disclosures may mitigate the increase in their cost of debts. The limitations of this study primarily pertain to the scope of readability measurement. Due to time and resource constraints, this paper assesses the readability of the overall financial report rather than focusing solely on lease-related disclosures. The research contributes to the literature on recognition and disclosure as well as readability. In addition, the research has significant implications for standard setters and practitioners, as the findings may assist the IASB in reviewing the impact of IFRS 16 post-implementation. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/92800 |
DOI: | 10.6342/NTU202401292 |
Fulltext Rights: | 同意授權(限校園內公開) |
Appears in Collections: | 會計學系 |
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ntu-112-2.pdf Access limited in NTU ip range | 1.3 MB | Adobe PDF | View/Open |
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