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Title: | 裁決性應計數的衡量與企業分類之基準 Measurement of Discretionary Accrual and the Basis of Industry Classification |
Authors: | Chia-Ming Liu 劉家銘 |
Advisor: | 林修葳(Hsiou Wei Lin) |
Keyword: | 裁決性應計項,產業分類,標準產業分類碼, Discretionary Accrual,Industrial Classification,Standard Industrial Classification Code, |
Publication Year : | 2013 |
Degree: | 碩士 |
Abstract: | 企業裁決性應計項的計算係以其總應計項減去作為參考標竿企業群組的合理應計項水準(即該企業非裁決性應計項的替代變數),估算而得。惟可作為參考標竿企業組的選擇,或許會決定研究者衡量企業盈餘偏離正常水準程度或甚至衡量盈餘操縱程度的效度。本研究旨在探討裁決性應計數的決定是否受產業分類方式及細分程度之影響,而可能造成誤判。 本文以產業分類方式為出發點,衡量在不同情形及假設下,企業所屬的產業類別、分類方式以及分類的細緻程度是否會對既定模型所決定之裁決性應計數造成影響。先以產業分類Standard Industrial Classification Code認定各企業作為裁決性應計數比較標準的企業群組,並進一步以企業財務報表之應計項目變動的相關性等為基準,篩選出相關係數高之企業分組;而模型係以Kothari (2005)針對Jones Model作出的修正為衡量裁決性應計數之判定基準。研究設計係假設應計數與行業特性相關連,因此使用更細緻之方式,如SIC三碼或者財務資訊表現,分類企業後再衡量產業應計數,所得出的結論將較具參考性。 實證結果顯示:在產業較為複雜的主要群組中,若加以細分而以產業群組分別衡量該產業之裁決性應計數;或以企業財務報表各項相關數值為基準找尋相關係數較高之企業分組,所得出之應計數解釋力普遍增加,其針對特定企業裁決性應計項的估計衡量也縮小,顯示若以既定分類標準衡量裁決性應計項,將導致部分企業受到誤解,以既定標準衡量看似具有盈餘操縱之動機及結果之企業,實際上裁決性應計項的組成有部分原因係來自參考標竿企業群組分類不當,並非盈餘操縱。本研究認為衡量裁決性應計數時,除了相關變數的取捨,對於因分類而造成的影響亦是不可忽略的一環。 The recognition and estimation of one company’s discretionary accrual is based on its total accrual minus benchmark group’s reasonable accrual, that is, the proxy variable of the company’s non-discretionary accrual. However, the selection of benchmark group could determine how much one company’s earning deviates from regular extent or even the persuasiveness of measuring the extent of earnings management. This thesis aimed to investigate if the determination of discretionary accrual is affected by the classification of industries and its segmentation extent and in the end cause the misleading conclusion. This thesis bases on the classification of industries to test if the determination of discretionary accrual by specific model is affected by how one company is classified, which classification it’s in and how fraction the classification is under different situations and assumptions. The research first applies Standard Industrial Classification Code (SIC) as grouping criteria. Secondly, the grouping criteria turns to the high correlation coefficient of companies on accruals. The measuring model is Kothari (2005) study which revised Jones model. The research design is assuming one company’s accrual is connected to its industry characteristics, thus , by applying finer ways to group the companies is presumably having a better determination of discretionary accrual. The result shows the model turns more persuasive if we apply sub-division as grouping criteria on those industries with rather complicated segmentation or if we choose the high correlation coefficient of companies on accruals as grouping criteria. The finding elaborates that some companies being misunderstood for having incentive or fact to manipulate company earning under original grouping criteria are in fact partly due to inadequately grouping criteria rather than earning management. This thesis concludes that other than choosing the right variable, it is also very important to choose the right grouping criteria. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/17721 |
Fulltext Rights: | 未授權 |
Appears in Collections: | 國際企業學系 |
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ntu-102-1.pdf Restricted Access | 1 MB | Adobe PDF |
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