集團企業活動外關係人交易對盈餘持續性之影響：委託同一會計師事務所查核財務報表之效果

The Impact of Non-Operating Related Party Transactions by Affiliated Business Groups on Earnings Persistence: The Effect of Audits from the Same CPA Firm

10.6226/NTUMR.201808_28(2).0002

方俊儒(Chun-Ju Fang)；張瑞當(Ruey-Dang Chang)

集團企業 ； 盈餘持續性 ； 營業活動外關係人交易 ； affiliated business group ； earnings persistence ； non-operating related party transactions

臺大管理論叢

28卷2期（2018 / 08 / 01）

33 - 59

繁體中文

關係人交易是集團企業經常採用之方式，正常之關係人交易可以提升經營績效。然而，不當之關係人交易，卻是集團企業管理者操弄財務報表的工具。集團企業之會計師若能瞭解關係人交易的內容與特性，將有助於其判斷關係人交易的合理性，進而能抑制不當之關係人交易。本文發現整體而言，國內大部分集團企業仍然委託不同事務所查核，會計師因無法完整瞭解關係人交易，故集團企業會利用營業外活動，進行不當之關係人交易，導致財務報表的盈餘持續性較低。然而，相較於委託不同事務所查核，當集團企業委託同一事務所查核，其營業活動外關係人交易較不會降低盈餘持續性。而此結果僅限於集團企業委託同一大型事務所查核，或是集團企業屬於大型者。

Related party transactions are conducted between components within an affiliated business group and these transactions in the normal course of operations are beneficial for the improvement of the operating performance of the group. However, abnormal related party transactions can be used by managers of the group to manipulate financial statements. If auditors of the group can better understand the content and characteristics of related party transactions, then they can determine the rationality of the transactions and further inhibit improper transactions more accurately. The findings of this study indicate that most components of an affiliated business group are audited by auditors from different CPA firms that do not fully understand the nature of related party transactions. As such, affiliated business groups may conduct related party transactions by means of non-operating activities, which could decrease earnings persistence. Yet, when components of the affiliated business group are audited by the same firm, as opposed to being audited by different firms, earnings persistence would not be decreased. It is noteworthy that the results have to do with the significance of the companies under discussion for the following: either the CPA firm conducting the audits is big or the affiliated business group itself is big.

1. 范宏書、林彥廷Lin, Yan-Ting、陳慶隆(2015)。實質盈餘管理對會計資訊價值攸關性之影響。臺大管理論叢，25(3)，163-196。
   連結：
2. 范宏書、林彥廷Lin, Yan-Ting、陳慶隆(2015)。實質盈餘管理對會計資訊價值攸關性之影響。臺大管理論叢，25(3)，163-196。
   連結：
3. 張瑞當、方俊儒、沈文華(2008)。集團企業是否委託同一會計師事務所查核財報對其盈餘管理行為之影響。管理評論，27(2)，29-52。
   連結：
4. 陳慶隆、張傳章、翁佩瑜(2017)。公司盈餘平穩化行為與盈餘資訊性之關係－合格境外機構投資者角色之檢測。臺大管理論叢，27(4)，1-42。
   連結：
5. 葉銀華(1998)。家族控股集團與股票報酬共變性之實證研究。臺大管理論叢，9(1)，25-49。
   連結：
6. 廖秀梅、戚務君(2014)。強制合夥會計師輪調當年度的審計品質分析。臺大管理論叢，25(1)，233-258。
   連結：
7. 廖秀梅、戚務君(2014)。強制合夥會計師輪調當年度的審計品質分析。臺大管理論叢，25(1)，233-258。
   連結：
8. 劉嘉雯、王泰昌、賴信蒼(2009)。訴訟風險與大型會計師事務所之客戶財務風險可接受水準。臺大管理論叢，20(1)，1-40。
   連結：
9. Atwood, T. J.,Drake, M. S.,Myers, L. A.(2010).Book-tax conformity, earnings persistence and the association between earnings future cash flows.Journal of Accounting and Economics,50(1),111-125.
10. Benston, G. J.(1985).The market for public accounting services: Demand, supply and regulation.Journal of Accounting and Public Policy,4(1),33-79.
11. Boone, J. P.,Khurana, I. K.,Raman, K. K.(2011).Litigation risk and abnormal accruals.Auditing: A Journal of Practice & Theory,30(2),231-256.
12. Branson, J.,Breesch, D.(2004).Referral as a determining factor for changing auditors in the Belgian auditing market: An empirical study.The International Journal of Accounting,39(3),307-326.
13. Chang, S. J.,Hong, J.(2000).Economic performance of group-affiliated companies in Korea: Intragroup resource sharing and internal business transactions.Academy of Management Journal,43(3),429-448.
14. Chen, J. J.,Cheng, P.,Xiao, X.(2011).Related party transactions as a source of earnings management.Applied Financial Economics,21(3),165-181.
15. Chen, K. C. W.,Yuan, H.(2004).Earnings management and capital resource allocation: Evidence from China's accounting-based regulation of rights issues.The Accounting Review,79(3),645-665.
16. Chi, W.,Douthett, E. B., Jr.,Lisic, L. L.(2012).Client importance and audit partner independence.Journal of Accounting and Public Policy,31(3),320-336.
17. Chow, G. C.(1960).Tests of equality between sets of coefficients in two linear regressions.Econometrica,28(3),591-605.
18. Dechow, P.,Ge, W.,Schrand, C.(2010).Understanding earnings quality: A review of the proxies, their determinants and their consequences.Journal of Accounting and Economics,50(2-3),344-401.
19. Doyle, J. T.,Lundholm, R. J.,Soliman, M. T.(2003).The predictive value of expenses excluded from pro forma earnings.Review of Accounting Studies,8(2-3),145-174.
20. Gopalan, R.,Jayaraman, S.(2012).Private control benefits and earnings management: Evidence from insider controlled firms.Journal of Accounting Research,50(1),117-157.
21. Hanlon, M.(2005).The persistence and pricing of earnings, accruals, and cash flows when firms have large book-tax differences.The Accounting Review,80(1),137-166.
22. Haw, I. M.,Qi, D.,Wu, D. H.,Wu, W.(2005).Market consequences of earnings management in response to security regulations in China.Contemporary Accounting Research,22(1),95-140.
23. Iatridis, G.,Alexakis, P.(2012).Evidence of voluntary accounting disclosure in the Athens stock market.Review of Accounting and Finance,11(1),73-92.
24. Khanna, T.,Palepu, K.(2000).Is group affiliation profitable in emerging markets? An analysis of diversified India business groups.The Journal of Finance,55(2),867-891.
25. Lee, C.,Yoon, S. W.(2012).The effects of goodwill accounting on informativeness of earnings: Evidence from earnings persistence and earnings' ability to predict future cash flows.Journal of Accounting and Finance,12(3),124-147.
26. Pizzo, M.(2013).Related party transactions under a contingency perspective.Journal of Management and Governance,17(2),309-330.
27. Reynolds, J. K.,Francis, J. R.(2000).Does size matter? The influence of large clients on office-level auditor reporting decisions.Journal of Accounting and Economics,30(3),375-400.
28. Williamson, O. E.(1975).Markets and Hierarchies: Analysis and Antitrust Implications: A Study in the Economics of Internal Organization.New York, NY:The Free Press.
29. 江明哲(2013)。我國審計準則公報第54 號「集團財務報表查核之特別考量」之介紹（ 下）。商學趨勢報導，43，77-88。
30. 江明哲(2013)。我國審計準則公報第54 號「集團財務報表查核之特別考量」之介紹（ 上）。商學趨勢報導，42，72-81。
31. 余佳樺(2014)。審計準則公報第54 號「集團財務報表查核之特別考量」。會計研究月刊，338，53-61。
32. 蘇淑慧、呂倩如、金成隆(2009)。家族公司與盈餘品質關係之研究：所有權、管理權與控制權。臺大管理論叢，19(S2)，35-70。

1. Ya-Ching Chu,Wei-Shao Wu,Chuan-Pin Chu,Chao-Jung Chen(2023)。The impact of the internal capital market of business-group affiliation on the dynamic capital-structure adjustment speed: Evidence from Taiwan。中華會計學刊，19(1)，1-41。
2. 蔡宗益,陳信吉,李建然(2020)。責任分攤式查核意見與集團企業合併財務報表審計品質關聯性：以會計師調整數為衡量基礎。臺大管理論叢，30(2)，37-69。
3. 陳慶隆,陳欣怡,翁佩瑜,王翰屏(2023)。關係人銷貨交易在編製報導個體財務報表規範下對會計資訊相對價值攸關性之影響。當代會計，24(2)，297-335。
4. 陳膺郁(2019).Does Efficient Social-Network Structure Benefit the Performance of Business Groups and Core Firms? The Underlying Mediation Mechanism for Small World Network Structure and Internationalization in Cross- Level Business Group Network.臺大管理論叢,29(3),125-166.
5. 黃靖權,翁慈青,林書賢(2022)。會計師關鍵查核事項之價值攸關性研究。當代會計，23(2)，193-247。
6. 鄭政宇,曾玉琦,張瑞當(2021)。集團企業經營複雜化與委任同一會計師事務所查核對關鍵查核事項之影響。中華會計學刊，17(1)，85-130。
7. (2024)。集團企業整合策略、會計師簽證網絡關係與盈餘管理之關聯性。經濟論文叢刊，52(3)，309-375。