請用此 Handle URI 來引用此文件:
http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/15955
標題: | IFRS 9對視上公司之資訊攸關性與投資人之影響 Impact of IFRS 9 on the Value Relevance of the Information of the Traded Company and Investors |
作者: | Qian-Zhen Liao 廖千瑱 |
指導教授: | 李書行(Shu-Hsing Li) |
關鍵字: | IFRS 9,金融資產重分類,累積異常報酬,股東權益報酬率,綜合損益, IFRS 9,financial asset reclassification,CAR,ROE,comprehesive income, |
出版年 : | 2020 |
學位: | 碩士 |
摘要: | 我國於2018年1月1日起實施「國際財務報導準則第9號:金融工具」,依公報規定企業需重新衡量金融資產並評估其是否需重分類。本研究主要探討金融資產重分類後之後續衡量對於公司之財務報表是否有所差異,而投資人於實施IFRS 9前後是否會改變其所關注之會計資訊。本研究之樣本採用2013年至2019年共909家一般產業之上市公司,並使用樣本之年資料與季資料,且以股票報酬率做為投資人於市場上之反應,以會計盈餘作為投資人所取得之會計資訊,建立兩條分別可以判斷投資人對於金融資產重分類之反應之回歸模型。
本研究之實證結果為:在短時間下,投資人較傾向使用營業淨利及當期淨利作為投資決策,而綜合損益對投資人之決策並不影響;但於長時間下,投資人雖仍較注重當期淨利,但綜合損益之影響提升。該結果顯示投資人於短時間下注意力有限,無法關注所有資訊,但於長時間下,投資人會使用綜合損益所提供之額外資訊。於IFRS 9實施後,短時間下投資人對於當期淨利之關注度有顯著下降,推論為IFRS 9之分類使金融資產公允價值波動從其他綜合損益轉移至營業外淨利,讓投資人較不使用當期淨利判斷公司營運之績效;而長時間下,投資人對於綜合損益之關注度有顯著上升,推論IFRS 9之分類要求企業須於其他綜合損益額外區分可重分類與不可重分類之金融資產公允價值變動損益,使綜合損益具有增額資訊。 Since adoption of IFRS 9 in Taiwan on January 1, 2018, firms listed in Taiwan need to reassess financial assets and consider whether they need to be reclassified. This research mainly discusses whether the subsequent measurement of financial assets after reclassification has differences in the firms’ financial statements, and whether the investors will change their accounting information mainly focusing after implementing IFRS 9. The sample of this study uses a total of 909 listed firms in general industry from 2013 to 2019, and uses the sample's annual and quarterly data. This study uses the stock return rate as the investors’ response in the market, and the accounting earnings as the accounting information obtained by the investors. There are two regression models established by the stock return rate and the accounting earnings to respectively represent the investors’ reaction. The empirical results show that the investors tend to focus on operating income and net income, and completely not concern comprehensive income in a short period. However, the impact of comprehensive income on the investors increases in a long period when the investors still focus on net income. The results show that the investors have limited attention in a short period and cannot pay attention to all information; however, in a long period, investors have enough time to realize the additional information in comprehensive income. After adoption of IFRS 9, the investors’ attention to net income has significantly decrease in a short period. It is inferred that the classification of IFRS 9 decreases the investors’ attention to net income; in the long period, the investors’ attention to comprehensive income significantly increase, and it is inferred that the additional information required by the classification of IFRS 9 increases the investors’ attention to comprehensive income. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/15955 |
DOI: | 10.6342/NTU202002177 |
全文授權: | 未授權 |
顯示於系所單位: | 會計學系 |
文件中的檔案:
檔案 | 大小 | 格式 | |
---|---|---|---|
U0001-3107202017145100.pdf 目前未授權公開取用 | 729.5 kB | Adobe PDF |
系統中的文件,除了特別指名其著作權條款之外,均受到著作權保護,並且保留所有的權利。