董事會特性與盈餘管理之選擇行為

The Impact of Board Characteristics on the Choice of Earnings Management

10.6552/JOAR.2013.57.2

許永聲(Yun-Sheng Hsu)；陳信吉(Hsin-Chi Chen)；陳琬菁(Wan-Ching Chen)

應計項目盈餘管理 ； 實質盈餘管理 ； 分類變動 ； 董事會特性 ； Accruals-based earnings management ； Real earnings management ； Classification shifting ； Board characteristics

會計評論

57期（2013 / 07 / 01）

39 - 72

繁體中文

本研究探討分類變動、應計項目盈餘管理、實質盈餘管理三種盈餘管理方法的選擇行為。討論企業存在盈餘管理誘因時，在分類變動受限的情況下，是否會增加利用應計項目盈餘管理及實質盈餘管理；在應計項目盈餘管理受限的情況下，是否會增加利用實質盈餘管理。本研究並探討董事會特性是否會影響企業盈餘管理方法的選擇行為。實證結果發現，企業存在盈餘管理動機時，會同時利用分類變動、應計項目盈餘管理、實質盈餘管理等盈餘管理方法。且當分類變動受限時，企業會增加利用應計項目盈餘管理及實質盈餘管理，在應計項目盈餘管理受限的情況下，會增加利用實質盈餘管理。董事會特性會影響企業的應計項目盈餘管理及實質盈餘管理程度，同時也會影響分類變動、應計項目盈餘管理、實質盈餘管理三種盈餘管理的選擇行為。在分類變動受限時，應計項目盈餘管理會受董事長內部化、外部董事比率及董事規模的影響；實質盈餘管理則會受董事長內部化、外部董事比率及董事持股比率的影響。在應計項目盈餘管理受限的情況下，實質盈餘管理會受董事長內部化、外部董事比率及董事持股比率的影響。

This study explores managers' choice between classification shifting, accruals-based earnings management, and real earnings management. Specifically, we investigate whether firms with less flexibility in classification shifting increase the use of accruals-based earnings management and real earnings management, and whether firms with less flexibility in accruals-based earnings management increase the use of real earnings management. We also take into account the effect of board characteristics on the choice of earnings management mechanisms. The results show that (1) if the choice of classification shifting is impeded, the company is more likely to use accruals-based earnings management and real earnings management and (2) if the choice of accruals-based earnings management is restricted, the company is more likely to use real earnings management. In addition, board characteristics play a role in determining the choice between alternative earnings management methods. When the choice of classification shifting is impeded, we find that (1) accruals-based earnings management is affected by chairman internalization, the proportion of outside directors, and board size, and that (2) real earnings management is affected by chairman internalization, the proportion of outside directors, and directors' shareholdings. If the choice of accrual-based earnings management is impeded, real earnings management is affected by chairman internalization, the proportion of outside directors, and directors' shareholdings.

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