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Title: | 或有價金與盈餘管理之研究 Earnouts and Earnings Management |
Authors: | Meng-Huei Li 李孟徽 |
Advisor: | 王泰昌,劉嘉雯 |
Keyword: | 或有價金,併購,商譽減損,SFAS 141 (R),SFAS 142, Earnouts,Acquisitions,Goodwill Impairment,SFAS 141 (R),SFAS 142, |
Publication Year : | 2016 |
Degree: | 碩士 |
Abstract: | 或有價金為併購交易付款的方式之一,其中詳細說明主併公司對於目標公司有義務於未來移轉資產,作為部分或全額的併購交易對價。相對於現金或股票付款,或有價金延遲交付款項,直到目標公司達到績效門檻或預先設定的經濟事件發生。SFAS 141(R)要求主併公司在併購日估計並認列或有價金之公允價值,而非僅將其揭露於財務報表附註之中。本研究實證結果發現在SFAS 141(R)的要求下,訂有或有價金合約的主併公司,其應計基礎盈餘管理和實質營業活動盈餘管理於併購後的觀察期間受到制約。在SFAS 141(R)的準則之下,資訊內涵增加以及或有價金相關之審計工作投入提升,這些情況可能制約了訂有或有價金合約的主併公司之投機行為。 Earnouts represent a means of acquisition payment that specify future obligation of the acquirer to transfer assets to the target as partial or full acquisition payment. In contrast to cash or stock payment, earnouts defer the payment until target firms meet performance thresholds or pre-specified economic events occur. SFAS 141(R) requires the acquirer to estimate and recognize the fair value of earnouts at the acquisition date instead of disclosing in financial statements. The empirical results in this study find that under SFAS 141(R), accrual-based earnings management and real activities earnings management are constrained in post-acquisition period for acquiring firms with earnout contracts. Under SFAS 141(R), information content and inputs of earnout-related assurance work increase. These circumstances could constrain opportunistic behavior of acquiring firms with earnout contracts. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/19259 |
DOI: | 10.6342/NTU201601272 |
Fulltext Rights: | 未授權 |
Appears in Collections: | 會計學系 |
Files in This Item:
File | Size | Format | |
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ntu-105-1.pdf Restricted Access | 1.32 MB | Adobe PDF |
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