會計政策揭露、IFRS資訊品質與權益資金成本關聯性之研究

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高偉玲(Wei-Ling Kao) 查詢紙本館藏

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企業管理學系

論文名稱

會計政策揭露、IFRS資訊品質與權益資金成本關聯性之研究
(The Relevance between Accounting Policy Disclosure, IFRS Information Quality and the Cost of Equity Capital)

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摘要(中)

2008金融海嘯顯現出企業資訊透明度過低的癥結，因此會計政策揭露是所有企業在此困境中不容忽視的課題。企業必須揭露重大資訊與提升財務報表的資訊品質，其中，財務報表為投資人做決策依循的一項重要工具，一份資訊品質高的財務報表，能讓投資人面對的風險下降，進而降低公司之權益資金成本並提升公司之價值。近年來國際財務報導準則〈International Financial Reporting Standards，IFRS〉由於增加資訊揭露程度的特性，獲得廣大認同，採用IFRS的風氣也因此受到各國家的倡導，於是轉換IFRS已是全球的趨勢。而國際財務報導準則與一般公認會計原則〈Generally Accepted Accounting Principles，GAAP〉的其中一項差別在於，財務報表的附註中增添更多重要資訊的揭露，如此可提供給報表使用者更多的參考資訊。本研究透過企業訪談來設計問卷，並以台灣上市、上櫃與興櫃公司為樣本，加上自台灣經濟新報社資料庫〈Taiwan Economic Journal, TEJ〉擷取樣本之公開財務資料，綜合問卷資料與公開財務資料，以進行統計分析。期望能觀察到會計政策揭露程度、IFRS資訊品質因素與權益資金成本之關聯性。本研究實證結果發現對樣本公司來說，會計政策揭露和IFRS資訊品質呈現正相關，表示當公司的會計政策揭露得越完整，其基本品質特性與強化品質特性就會越高；藉由檢定發現會計政策揭露與權益資金成本呈現負相關，表示當公司的會計政策揭露程度越高時，公司的權益資金成本就會越低；藉由檢定發現IFRS資訊品質與權益資金成本呈現負相關，IFRS資訊品質指標越高時，公司的權益資金成本就會越低。

摘要(英)

The adoption of International Financial Reporting Standards (IFRS) will increase the accounting disclosure of financial reporting, and contribute to globalization. IFRS and Generally Accepted Accounting Principles (GAAP) are mainly different from accounting policy disclosure, which provide more information to users .This study investigate the influential factors of accounting policy disclosure by using the questionnaire survey of listed companies, OTC companies and emerging stock companies. Besides, this study refer the published financial data from Taiwan Economic Journal of these companies. The main purpose of this research plan is to explore the relevance between accounting policy disclosure, IFRS information quality and the cost of equity capital. The empirical results show the accounting policy disclosure and IFRS information quality presented a significant positive correlation. It means that increase accounting policy disclosure, resulting in the higher IFRS information quality. The empirical results show the accounting policy disclosure and the cost of equity capital presented a significant negative correlation. It means that increase the accounting policy disclosure, resulting in the lower cost of equity capital. The empirical results show the IFRS information quality and the cost of equity capital presented a significant negative correlation. It means that increase the IFRS information quality, resulting in the lower cost of equity capital.

關鍵字(中)

★ 會計政策揭露
★ IFRS資訊品質
★ 權益資金成本

關鍵字(英)

★ Accounting Disclosure Policy
★ IFRS Information Quality
★ Cost of Equity Capital

論文目次

目錄
摘要 i
ABSTRACT ii
一、緒論 1
1-1研究背景與動機 1
1-2研究目的 2
1-3論文結構與研究流程 3
1-3-1論文結構 3
1-3-2研究流程 3
二、文獻探討 5
2-1國際財務報導準則〈International Financial Reporting Standards，IFRS〉 5
2-1-1 IFRS的發展緣由 5
2-1-2我國採用IFRS之狀況 7
2-1-3 IFRS和一般公認會計原則(GAAP)的差異 11
2-1-4 IFRS對企業管理資訊建立與揭露之影響 12
2-2會計政策揭露〈Accounting Policy Disclosure〉 12
2-2-1會計政策揭露之定義與範圍 12
2-2-2會計政策揭露之功能 14
2-2-3會計政策揭露之指標 15
2-3 IFRS資訊品質〈IFRS Information Quality〉之定義 16
2-3-1基本品質特性〈Fundamental Quality Characteristics〉 16
2-3-2強化品質特性〈Enhancing Quality Characteristics〉 18
2-4會計政策揭露、IFRS資訊品質與權益資金成本之關係 19
2-4-1會計政策揭露與IFRS資訊品質 19
2-4-2會計政策揭露、IFRS資訊品質與權益資金成本 20
三、研究方法 22
3-1研究架構 22
3-2問卷設計與發放對象 23
3-3問卷收發情形及樣本描述 23
3-4會計政策揭露指標揭露之完整程度與重要性程度衡量 26
3-5 IFRS資訊品質構面衡量(基本品質部分) 26
3-6 IFRS資訊品質構面衡量(強化品質部分) 27
3-7研究變數 28
3-7-1應變數(Dependent Variable) 28
3-7-2控制變數(Control Variable) 30
3-7-3自變數與中介變數(Independent Variables and Mediator) 33
3-8迴歸模型 35
四、實證結果與分析 44
4-1本研究設計問卷之信效度分析 44
4-2敘述性統計 49
4-3 t檢定 49
4-3-1不同產業別對於會計政策揭露與資訊品質之影響 50
4-3-2成立年數於會計政策揭露、資訊品質之影響 51
4-4單因子變異數分析 52
4-4-1員工人數、營業額對於會計政策揭露、資訊品質之影響 52
4-4-2會計政策揭露程度對於資訊品質之影響 55
4-5 Pearson相關係數分析 59
4-6迴歸分析 61
4-7中介效果(Mediation Effects) 67
4-7-1中介效果之定義 67
4-7-2研究目的 68
4-7-3相關文獻與分析 68
五、研究結論與建議 72
5-1研究結論 72
5-2研究建議 74
參考文獻 74

圖目錄

圖1研究流程 4
圖2相關導入時程與狀況 8
圖3轉換計畫各階段流程圖及其目標 11
圖4附註之內容及揭露順序 13
圖5應用基本品質特性之程序 17
圖6研究架構 22
圖7研究架構標註實證結果之迴歸係數及顯著性 65
圖8無中介效果 67
圖9部份中介效果 67
圖10完全中介效果 67
圖11驗證中介效果流程圖 68

表目錄

表1各個國家採用IFRS狀況 6
表2IFRS相關譯名對照 7
表3各部門之專案小組成員相關執掌內容 9
表4工作計畫 10
表5樣本選取表 24
表6不同變項之敘述統計資料 25
表7權益資金成本敘述性統計結果 30
表8權益資金成本相關係數矩陣 30
表9變數彙整表 35
表10 問卷各構面之Cronbach ‘s Alpha係數值(N=140) 45
表11 KMO檢定以及Bartlett′s球型檢定結果(N=140) 46
表12因素分析結果(N=140) 47
表13模型的適配度檢驗(N=140) 48
表14各變數之敘述性統計分析 49
表15不同產業別在本問卷的獨立樣本T考驗摘要表 50
表16不同成立年數在本問卷的獨立樣本T考驗摘要表 51
表17員工人數對於會計政策揭露、資訊品質之模式摘要 53
表18員工人數對於會計政策揭露、資訊品質之描述性統計資料 53
表19年營業額對於會計政策揭露、資訊品質之模式摘要 54
表20年營業額對於會計政策揭露、資訊品質之描述性統計資料 54
表21不同會計政策揭露程度在三種資訊品質特性之人數、平均數與標準差 56
表22變異數同質性測試表 56
表23不同會計政策揭露程度在三種資訊品質特性之單因子變異數分析摘要表 57
表24Scheffe統計結果分析表 58
表25相關係數摘要表(N=62) 60
表26實證結果之迴歸分析 66
表27會計政策揭露與權益資金成本模式摘要 69
表28會計政策揭露與IFRS資訊品質模式摘要 69
表29IFRS資訊品質與權益資金成本模式摘要 70
表30會計政策揭露、IFRS資訊品質與權益資金成本模式摘要 70
表31中介效果之摘要表 71

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指導教授

蔡文賢(Wen-Hsien Tsai)

審核日期

2016-8-18

推文