公允價值、會計資訊品質、信用風險 與外資持股比率之關聯性研究

以作者查詢圖書館館藏

、以作者查詢臺灣博碩士

、以作者查詢全國書目

、勘誤回報

、線上人數：8

、訪客IP：3.133.141.6

姓名

楊馥亘(Fu-Hsuan Yang) 查詢紙本館藏

畢業系所

企業管理學系

論文名稱

公允價值、會計資訊品質、信用風險與外資持股比率之關聯性研究

相關論文

★ 台灣與大陸在ERP專案管理、專案成員向心力與離心力的不同之處	★ ERP專案成員離心力與向心力對代理問題之影響
★ 事業策略、人力資源管理與組織績效之實證研究	★ 商用飛機維修成本控制之研究-以某國籍航空公司為例
★ ERP系統更換關鍵成功因素研究-以Oracle系統導入為例	★ 中小企業自行開發ERP 系統關鍵成功因素研究- 以高科技產業為例
★ 文化創意產業產品策略選擇之影響因素-以國片為例	★ 專案管理風險對ERP專案成功之影響
★ 品質機能展開與多準則決策於設備開發應用	★ ERP導入品質因素對IFRS轉換專案之影響
★ ERP投資金額對服務品質及導入後IT治理目標之分析	★ ERP 導入問題對專案的影響
★ IFRS轉換對員工退休金計畫影響	★ IFRS轉換對企業績效評估的影響
★ IFRS轉換問題對IFRS效益的影響	★ ERP環境下企業集團自行編製合併報表能力對XBRL資訊透明度之研究

檔案

[Endnote RIS 格式]

[Bibtex 格式]

[相關文章]

[文章引用]

[完整記錄]

[館藏目錄]

至系統瀏覽論文 ( 永不開放)

摘要(中)

本研究以台灣上市櫃公司為對象，探討公允價值、會計資訊品質、信用風險與外資持股比率之關聯性研究，實證顯示透過公允價值之採用可透過會計資訊品質之忠實表述進而降低信用風險、並提升外資持股比率。使企業之利害關係人能夠以財務報表上忠實表述之公允價值確認企業財務狀況與經營投資成果，避免錯誤與增進資訊之品質，達提升公司財務狀況之透明度，進而降低企業信用風險、提升投資意願之綜效。
本研究更進一步發現公允價值對信用風險之影響為負相關，而對外資持股比率之影響為正相關，符合本研究之假說。然公允價值對上述兩變數並無直接顯著影響。進而推測公允價值可能須經其他中介因素方能顯著影響信用風險與外資持股比率。因此本研究進一步以會計資訊品質作為本研究架構中介變數，探討公允價值之採用是否能夠提升會計資訊品質進而顯著影響信用風險與外資持股比率。

關鍵詞：
公允價值、會計資訊品質、忠實表述、信用風險、外資持股比率

摘要(英)

This study examines the correlation between fair value, the quality of accounting information, credit risk and foreign investment shareholding ratio. It shows that the
adoption of fair value can reduce the credit risk through the faithful representation of the quality of accounting information, enhance the foreign ownership ratio as well. That is, with the aim of adopting fair value and faithful representation on the accounting information, stakeholders of the enterprise can monitor the enterprise’s financial status easily, provide better investing decision and increase investing wiliness with better quality of accounting information. Adoption of fair value may enhance the transparency of the financial status of the enterprise; help reduce the credit risk and lower financing cost.
The empirical result finds out that the effect of fair value on credit risk is negatively correlated; and fair value is positively correlated with the effect of foreign
ownership ratio, which is consistent with the hypothesis of this study. However, the fair value does not have a direct and significant effect on the two variables above. It is speculated that fair value may have to be subject to mediator which can significantly affect the credit risk and foreign investor shareholding ratio. Therefore, this study further uses the quality of accounting information as the mediator to explore whether the use of fair value can improve the quality of accounting information and significantly affect the credit risk and foreign investor shareholding ratio.

Keywords: Fair Value, Quality of accounting information, Faithful representation, Credit Risk, Foreign investor shareholding ratio

關鍵字(中)

★ 公允價值
★ 會計資訊品質
★ 忠實表述
★ 信用風險
★ 外資持股比率

關鍵字(英)

★ Fair Value
★ Quality of accounting information
★ Faithful representation
★ Credit risk
★ Foreign investor shareholding ratio

論文目次

目錄
致謝 ii
摘要 iv
ABSTRACT v
圖目錄 ix
表目錄 x
一、緒論 1
1-1 研究背景與目的 1
1-2 論文架構與研究流程 2
二、文獻探討 5
2-1 公允價值 5
2-2 信用風險與公允價值 7
2-3 外資持股比率與公允價值 8
2-4 會計資訊品質 9
三、研究方法 15
3-1 研究架構 15
3-2 研究對象與樣本描述 18
3-3 構面評估 19
四、研究結果 29
4-1 統計檢驗 29
4-2 測量模式評估 33
4-3 結構模式評估 44
4-4 中介效果評估 54
4-5 假說檢定 59
五、結論與建議 60
5-1 研究結論 60
5-2 研究限制與未來建議 62
參考文獻 63
中文文獻 63
英文文獻 64

參考文獻

中文文獻
[1] 蔡文賢、藍淑慧(2015)。 IFRS 經營管理 e 化實務。臺北 : 碁峰資訊股份有限公司。
[2] 彭博(2011).公允價值會計對財務報表價值攸關性之影響.私立東海大學會計研究所碩士論文.
[3] 吳清在, & 朱心迪. (2007). 財務會計準則之制定與財務報表之價值攸關性─台灣上市公司時間序列分析.
[4] 倪毅豪. (2013). 盈餘管理, 資訊不對稱與信用評等之關聯性研究.
[5] 張麗娟. (1998). 台灣股市自營商及外資巨額交易對股票報酬率之影響 (下).企銀季刊.
[6] 陳彩稚, 李書行, & 蔡璧徽. (2006). 會計準則, 資訊不對稱對中國大陸證券市場盈餘宣告之市場反應的影響. 會計評論(43), 1-25.
[7] 游智賢. (1999). 外資資訊領先地位之探討. 中國財務學刊, 7(3), 1-26.
[8] 蕭惠元、陳惠玲. (2002). 各級TCRI 之違約率統計. 貨幣觀測與信用評等，第三十四期, 19-25.
[9] 李瑞瑜. (2007). 信用評等與資本結構. 政治大學會計研究所學位論文: 1-78.
[10] 顏信輝, & 王炫斌. (2014). 我國逐步趨同國際財務報導準則對財報品質之影響. 會計評論(58), 1-37.
[11] 金管會：2013 年版國際財務報導準則(IFRSs) (2013)，2015 年5 月17 日，資料來源：http://www.sfb.gov.tw/ch/home.jsp?id=528&parentpath=0,2
[12] 金管會：ROC GAAP 與IFRSs 差異(2013)，2015 年4 月22 日，資料來源：http://www.twse.com.tw/ch/listed/IFRS/aboutGAAP.php
[13] 臺灣證券交易所：全體外資及陸資持股比例，2014 年12 月31 日，資料來源：http://www.tse.com.tw/ch/trading/fund/MI_QFIIS/MI_QFIIS.php
英文文獻
[14] Agoglia, Christopher P, Doupnik, Timothy S, & Tsakumis, George T. (2011). Principles-based versus rules-based accounting standards: The influence of
standard precision and audit committee strength on financial reporting decisions. The accounting review, 86(3), 747-767.
[15] Anderson, James C, & Gerbing, David W. (1988). Structural equation modeling in practice: A review and recommended two-step approach. Psychological bulletin,
103(3), 411.
[16] Barth, Mary E, Beaver, William H, & Landsman, Wayne R. (1998). Relative valuation roles of equity book value and net income as a function of financial health. Journal of Accounting and Economics, 25(1), 1-34.
[17] Barth, Mary E, Landsman, Wayne R, & Wahlen, James M. (1995). Fair value accounting: Effects on banks′ earnings volatility, regulatory capital, and value of contractual cash flows. Journal of banking & finance, 19(3), 577-605.
[18] Beran, Rudolf, & Srivastava, Muni S. (1985). Bootstrap tests and confidence regions for functions of a covariance matrix. The Annals of Statistics, 95-115.
[19] Brown, Stephen, Lo, Kin, & Lys, Thomas. (1999). Use of R 2 in accounting research: measuring changes in value relevance over the last four decades. Journal of Accounting and Economics, 28(2), 83-115.
[20] Carmona, Salvador, & Trombetta, Marco. (2008). On the global acceptance of IAS/IFRS accounting standards: The logic and implications of the principles-based system. Journal of Accounting and Public Policy, 27(6), 455-461.
[21] Chin, Wynne W. (1998). Commentary: Issues and opinion on structural equation modeling: JSTOR.
[22] Cohen, Jacob. (1988). Statistical power analysis for the behavioural sciences. Hillside. NJ: Lawrence Earlbaum Associates.
[23] Davison, Anthony Christopher, & Hinkley, David Victor. (1997). Bootstrap methods and their application (Vol. 1): Cambridge university press.
[24] Dechow, Patricia M, & Dichev, Ilia D. (2002). The quality of accruals and earnings: The role of accrual estimation errors. The accounting review, 77(s-1), 35-59.
[25] DeMarzo, Peter M, & Duffie, Darrell. (1991). Corporate financial hedging with proprietary information. Journal of Economic theory, 53(2), 261-286.
[26] Efron, Bradley. (1981). Nonparametric estimates of standard error: the jackknife, the bootstrap and other methods. Biometrika, 589-599.
[27] Efron, Bradley. (1987). Better bootstrap confidence intervals. Journal of the American statistical Association, 82(397), 171-185.
[28] Efron, Bradley, & Tibshirani, Robert J. (1994). An introduction to the bootstrap: CRC press.
[29] F. Hair Jr, Joe, Sarstedt, Marko, Hopkins, Lucas, & G. Kuppelwieser, Volker. (2014). Partial least squares structural equation modeling (PLS-SEM) An emerging tool in business research. European Business Review, 26(2), 106-121.
[30] Fama, Eugene F. (1970). Efficient capital markets: A review of theory and empirical work. The journal of Finance, 25(2), 383-417.
[31] Fornell, Claes, & Larcker, David F. (1981). Structural equation models with unobservable variables and measurement error: Algebra and statistics. Journal of
marketing research, 382-388.
[32] Froot, Kenneth A, Scharfstein, David S, & Stein, Jeremy C. (1993). Risk management: Coordinating corporate investment and financing policies. the Journal of Finance, 48(5), 1629-1658.
[33] Geisser, Seymour. (1974). A predictive approach to the random effect model. Biometrika, 101-107.
[34] Graham, John R, & Rogers, Daniel A. (1999). Is corporate hedging consistent with value maximization? An empirical analysis.
[35] Hair, Joseph F, Black, William C, Babin, Barry J, Anderson, Rolph E, & Tatham, Ronald L. (1998). Multivariate data analysis . Uppersaddle River. Multivariate Data Analysis (5th ed) Upper Saddle River.
[36] Hair, Joe F, Ringle, Christian M, & Sarstedt, Marko. (2011). PLS-SEM: Indeed a silver bullet. Journal of Marketing theory and Practice, 19(2), 139-152.
[37] Hair, Joseph F, Ringle, Christian M, & Sarstedt, Marko. (2013). Editorial-partial least squares structural equation modeling: Rigorous applications, better results
and higher acceptance.
[38] Hair, Joe F, Sarstedt, Marko, Ringle, Christian M, & Mena, Jeannette A. (2012). An assessment of the use of partial least squares structural equation modeling in
marketing research. Journal of the academy of marketing science, 40(3), 414-433.
[39] Henseler, Jörg, Ringle, Christian M, & Sinkovics, Rudolf R. (2009). The use of partial least squares path modeling in international marketing New challenges to
international marketing (pp. 277-319): Emerald Group Publishing Limited.
[40] Henseler, Jörg, & Sarstedt, Marko. (2013). Goodness-of-fit indices for partial least squares path modeling. Computational Statistics, 1-16.
[41] Horton, J, & Serafeim, G. (2008). Market Reaction to and Valuation of IFRS Reconciliation Adjustments: First Evidence from the United Kingdom.
[42] Ionascu, Mihaela, & Ionascu, Ion. (2012). The use of accounting information by financial analysts in emergent markets: the case of Romania. Accounting and Management Information Systems, 11(2), 174.
[43] Jeanjean, Thomas, & Stolowy, Hervé. (2008). Do accounting standards matter? An exploratory analysis of earnings management before and after IFRS adoption. Journal of accounting and public policy, 27(6), 480-494.
[44] Joos, Philip PM, & Leung, Edith. (2012). Investor perceptions of potential IFRS adoption in the United States. The Accounting Review, 88(2), 577-609.
[45] Kabir, Md Humayun, Laswad, Fawzi, & Islam, Md Ainul. (2010). Impact of IFRS in New Zealand on accounts and earnings quality. Australian Accounting Review, 20(4), 343-357.
[46] Kolev, Kalin S. (2008). Do investors perceive marking-to-model as marking-to-myth? Early evidence from FAS 157 disclosure.
[47] Kuorinka, Ilkka, Jonsson, Bengt, Kilbom, Asa, Vinterberg, Henrik, Biering-Sørensen, Fin, Andersson, Gunnar, & Jørgensen, Kurt. (1987). Standardised Nordic questionnaires for the analysis of musculoskeletal symptoms. Applied ergonomics, 18(3), 233-237.
[48] Landsman, Wayne R, Maydew, Edward L, & Thornock, Jacob R. (2012). The information content of annual earnings announcements and mandatory adoption of IFRS. Journal of Accounting and Economics, 53(1), 34-54.
[49] Moser, Claus Adolf, & Kalton, Graham. (1971). Survey methods in social investigation. Survey methods in social investigation.(2nd Edition).
[50] Nicholls, Jeananne, Hair Jr, Joseph F, Ragland, Charles B, & Schimmel, Kurt E.(2013). Ethics, corporate social responsibility, and sustainability education in
AACSB undergraduate and graduate marketing curricula: A benchmark study. Journal of Marketing Education, 35(2), 129-140.
[51] Rigdon, Edward E. (2014). Rethinking partial least squares path modeling: breaking chains and forging ahead. Long Range Planning, 47(3), 161-167.
[52] Rogers, Daniel A. (2002). Does executive portfolio structure affect risk management? CEO risk-taking incentives and corporate derivatives usage. Journal
of Banking & Finance, 26(2), 271-295.
[53] Rubinstein, Mark. (1975). Securities market efficiency in an Arrow-Debreu economy. The American Economic Review, 65(5), 812-824.
[54] Sami, Heibatollah, & Zhou, Haiyan. (2004). A comparison of value relevance of accounting information in different segments of the Chinese stock market. The
International Journal of Accounting, 39(4), 403-427.
[55] Schroeder, Richard G, Clark, Myrtle W, & Cathey, Jack M. (2001). Accounting theory and analysis. Chapel Hill: University of North Carolina.
[56] Smith, Clifford W, & Stulz, Rene M. (1985). The determinants of firms′ hedging policies. Journal of financial and quantitative analysis, 20(04), 391-405.
[57] Van Tendeloo, Brenda, & Vanstraelen, Ann. (2005). Earnings management under German GAAP versus IFRS. European Accounting Review, 14(1), 155-180.
[58] Verrecchia, Robert E. (1983). Discretionary disclosure. Journal of accounting and economics, 5, 179-194.
[59] Werts, Charles E, Linn, Robert L, & Jöreskog, Karl G. (1974). Intraclass reliability estimates: Testing structural assumptions. Educational and Psychological
measurement, 34(1), 25-33.

指導教授

蔡文賢(Wen-Hsien Tsai)

審核日期

2017-7-10

推文