企業以首次適用第34號金融商品公報之會計變動影響數進行盈餘管理之決定因素與資訊內涵

Determinants and Information Content of Using the Effect of Accounting Change from the Adoption of SFAS No. 34 (Financial Instruments) for Earnings Management

10.6226/NTURM2010.21.1.205

謝宛庭(Wan-Ting Hsieh)；吳清在(Tsing-Zai Wu)

金融商品 ； 會計變動影響數 ； 盈餘管理 ； financial instruments ； effect of accounting change ； earnings management

臺大管理論叢

21卷1期（2010 / 12 / 01）

205 - 238

繁體中文

2006年1月1日開始適用之中華民國財務會計準則第34號公報《金融商品之會計處理準則》規定，企業擁有的金融商品須依公報的規定予以重新分類及衡量，並依「公平價值」評價。由於預期採行34號公報對企業的巨大影響，金管會證期局特別規定，上市櫃公司必須於2006年1月底在「公開資訊觀測站」公佈採行第34號公報公司的自結會計變動影響數。本研究實證結果發現：公司以首次適用第34號公報之會計變動影響數進行盈餘管理者，取決於公司管理當局之「報導動機」、「公司治理結構」、「資訊揭露透明度」與「產業」等因素，然而此種盈餘管理不具資訊價值。另一方面，2006年第一季季報資產負債表上經重分類、重衡量後之金融資產之帳面價值因係以公平價值衡量而有顯著之股價攸關性。

Expecting possible immense impact of Taiwan's SFAS No. 34 Accounting for Financial Instruments, effective January 1, 2006, Taiwan's Securities and Futures Bureau requires that listed firms in stock exchanges disclose the cumulative effects of adopting this new statement in the Market Observation Posting System before January 31, 2006. Our empirical results show that determinants of the income effect from adopting adopting SFAS No. 34 are the firm's reporting motivation, the corporate governance, the information disclosure and the industry membership. We find that stock market does not react significantly to the income effect of this accounting change. However, we do find the re-classified financial assets in fair values in the balance sheet for the first quarter of 2006 are relevant to stock price.

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