服務組織控制報告對公司行為之影響

Abstract

本研究主要探討服務組織控制報告(Service Organization Controls Reports)與公司現金持有數、公司負債比率和投資效率之關聯性。本研究以標準普爾指數500(S&P 500)公司為樣本。研究結果發現取得服務組織控制報告的公司其現金持有數較少，兩者呈負相關。此外，取得服務組織控制報告的公司其負債比率較高，兩者呈正相關。最後，本研究透過使用Biddle et al. (2009)投資效率模型，發現當前的情況下公司是否取得服務組織控制報告與投資效率之間並無關聯性。

In this paper, I examine the association between Service Organization Controls Reports and corporate behavior, including cash holdings, leverage, and investment efficiency. The purpose of this study is to examine whether companies with Service Organization Controls Reports substantially benefit organization. Based on a sample of S&P 500 firms, I provide evidence that companies with Service Organization Controls Reports tend to hold less cash. I also find evidence that companies with Service Organization Controls Reports have higher corporate leverage. Finally, using the model proposed by Biddle et al. (2009), I find that there is no association between Service Organization Controls Reports and investment efficiency.