董事連結與財務報表可比性

Board Interlocks and Financial Statement Comparability

10.6342/NTU201600595

張家安

社會網絡 ； 董事網絡 ； 董事連結 ； 財務報表可比性 ； social networks ； director networks ； board interlocks ； financial statement comparability

國立臺灣大學會計學系學位論文

2016年

碩士

廖芝嫻

繁體中文

本研究旨在探討董事連結與企業之間財務報表可比性(以下簡稱可比性)的關聯。藉由交錯複雜之董事連結所產生的董事網絡，企業的資訊、知識及政策能彼此交流及學習，進而增強企業之間的可比性。透過台灣2007至2012年上市櫃公司的資料以及實證研究測試，本研究發現當企業具有董事連結的現象時，可比性確實會較高；此外，若連結董事具備會計或財務專長，可比性亦可以提升。然而，連結董事為審計委員會的成員和可比性並沒有顯著的關聯性，我們推測可能是樣本過少的原因所導致的結果。最後，額外分析則進一步確認本研究的主要實證模型並無自我選擇偏誤的問題，且於控制盈餘管理和排除金融產業後，仍然和主要實證結果相同。

The objective of this research is to investigate the relationship of board interlocks and financial statement comparability (hereafter comparability). Director network through board interlocking has the advantages of information transfer and knowledge spillover, which in turn can enhance comparability among firms. Using a sample of Taiwanese listed firms over years 2007-2012, we find that board interlock is positively associated with comparability. In addition, comparability increases when the interlocking director has financial expertise. However, we find no evidence that audit committee member interlock is associated with comparability, probability due to the small sample of firms with audit committees. Finally, the additional tests confirm that the main results are robust to correction of potential self-selection problems, controlling for earnings management, and excluding financial firms.

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