盈餘門檻與盈餘管理行為之研究

Earnings Thresholds Effect and Earnings Management

10.6735/JAFD.200906_2(2).0001

林有志(Yu-Chih Lin)；邱炳雲(Pin-Yung Chiu)；何韋霆(Wei-Ting Ho)

盈餘門檻 ； 盈餘管理 ； Earnings Thresholds ； Earnings Management

會計與財金研究

2卷2期（2009 / 06 / 01）

1 - 16

繁體中文

本文旨在探討公司在面對前期盈餘門檻、正盈餘鬥檻及分析師預測盈餘門檻峙，是否會為了達到或超越上述三個盈餘鬥檻而從事盈餘管嫂。本文以2000年至2005年台灣土市（櫃）公司為樣本，將裁決性應計項目、超額處分固定資產損益及超額處分投資損益當作盈餘管理之衡量變數，分別針對三項門檻建立迴歸模式。實證結果顯示：前期盈餘門檻與盈餘管理呈現正向顯著關係，代表公司可能為了達到或跨越前期盈餘門繼而從事盈餘管理。在正盈餘門檻方面，其與盈餘管理之關係並不顯著，因此沒有足夠證據支持公司可能為了達到正盈餘鬥檻而有盈餘管理之行為。而分析師預測盈餘門提與盈餘管理也有顯著之正向關係，代表公司可能為了避免實際盈餘低於分析師預期而從事盈餘管理。

This paper aims to investigate whether firms manage earnings to meet or exceed each of following three earnings thresholds: avoiding earnings decline, avoiding a loss and beating analysts' earnings forecasts. The empirical tests have been conducted using TEJ database for firms listed on the Taiwan Stock Exchange and Gretai Securities Market for fiscal years from 2000 to 2005 Discretionary accruals and excess gain or loss on disposal of fixed assets and of investments are used as the proxy for the magnitude of earnings management (EM). The empirical results show that there is a positive relation between earnings decline threshold and EM. However, the relationship between positive earnings threshold and EM is not statistically significant. Finally, we find that meeting or beating analysts' forecasts threshold is positively associated with the magnitude of earnings management.

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