博碩士論文 103421016 詳細資訊




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:11 、訪客IP:3.238.190.82
姓名 高偉玲(Wei-Ling Kao)  查詢紙本館藏   畢業系所 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)
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) 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
參考文獻 中文部分
[1] 林蕙真,中級會計學: 理論與應用,第六版,証業出版 ,民國一零三年九月
[2] 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
[3] 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
[4] 鄭丁旺,中級會計學(上冊),第十一版,自行出版,民國一零一年九月
英文部分
[1] Ahmed, K., Chalmers, K., & Khlif, H. (2013). A meta-analysis of IFRS adoption effects. The International Journal of Accounting, 48(2), 173-217.
[2] Ali, A., Chen, T. Y., & Radhakrishnan, S. (2007). Corporate disclosures by family firms. Journal of Accounting and Economics, 44(1), 238-286.
[3] Armstrong, C. S., Barth, M. E., Jagolinzer, A. D., & Riedl, E. J. (2010). Market reaction to the adoption of IFRS in Europe. The accounting review, 85(1), 31-61.
[4] Ball, R. (2006). International Financial Reporting Standards (IFRS): pros and cons for investors. Accounting and business research, 36(sup1), 5-27.
[5] Ball, R., Kothari, S. P., & Robin, A. (2000). The effect of international institutional factors on properties of accounting earnings. Journal of accounting and economics, 29(1), 1-51.
[6] Baron, R. M., & Kenny, D. A. (1986). The moderator–mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of personality and social psychology, 51(6), 1173.
[7] Barry, C. B., & Brown, S. J. (1986). Limited information as a source of risk. The Journal of Portfolio Management, 12(2), 66-72.
[8] Barth, M. E., Landsman, W. R., & Lang, M. H. (2008). International accounting standards and accounting quality. Journal of accounting research, 46(3), 467-498.
[9] Bartlett, M. S. (1951). An inverse matrix adjustment arising in discriminant analysis. The Annals of Mathematical Statistics, 107-111.
[10] Basu, S. (1997). The conservatism principle and the asymmetric timeliness of earnings 1. Journal of accounting and economics, 24(1), 3-37.
[11] Beaver, W. H., Lambert, R. A., & Ryan, S. G. (1987). The information content of security prices: A second look. Journal of Accounting and Economics, 9(2), 139-157.
[12] Berdie, D. R., (1994), Reassessing the Value of High Response Rates to Mail Surveys, Marketing Research, 1(3), 52-64.
[13] Botosan, C. A. (1997). Disclosure level and the cost of equity capital.Accounting review, 323-349.
[14] Botosan, C. A., & Plumlee, M. (2000). Disclosure level and expected cost of equity capital: An examination of analysts′ rankings of corporate disclosure and alternative methods of estimating expected cost of equity capital. Available at SSRN 224385.
[15] Boubakri, N., Guedhami, O., Mishra, D., & Saffar, W. (2012). Political connections and the cost of equity capital. Journal of Corporate Finance, 18(3), 541-559.
[16] Brown, S., & Hillegeist, S. A. (2007). How disclosure quality affects the level of information asymmetry. Review of Accounting Studies, 12(2-3), 443-477.
[17] Bushman, R. M., & Smith, A. J. (2001). Financial accounting information and corporate governance. Journal of accounting and Economics, 32(1), 237-333.
[18] Cardinal, R. N., & Aitken, M. R. (2013). ANOVA for the behavioral sciences researcher. Psychology Press.
[19] Chan, A. L. C., Lin, S. W., & Strong, N. (2009). Accounting conservatism and the cost of equity capital: UK evidence. Managerial Finance, 35(4), 325-345.
[20] Chan, L. K., Hamao, Y., & Lakonishok, J. (1991). Fundamentals and stock returns in Japan. The Journal of Finance, 46(5), 1739-1764.
[21] Chen, F., Jorgensen, B. N., & Yoo, Y. K. (2004). Implied cost of equity capital in earnings-based valuation: international evidence*. Accounting and Business Research, 34(4), 323-344.
[22] Chen, S., Chen, X., & Cheng, Q. (2008). Do family firms provide more or less voluntary disclosure?. Journal of accounting research, 46(3), 499-536.
[23] Cheng, C. A., Collins, D., & Huang, H. H. (2006). Shareholder rights, financial disclosure and the cost of equity capital. Review of Quantitative Finance and Accounting, 27(2), 175-204.
[24] Claus, J., & Thomas, J. (2001). Equity premia as low as three percent? Evidence from analysts′ earnings forecasts for domestic and international stock markets. Journal of Finance, 1629-1666.
[25] Cohen, J. (1977). Statistical power analysis for the behavioral sciences (rev. Lawrence Erlbaum Associates, Inc.
[26] Cooke, T. E. (1991). An assessment of voluntary disclosure in the annual reports of Japanese corporations. International Journal of Accounting Education and Research 26 (3),174-189.
[27] Cramer, D., & Bryman, A. (1997). Quantitative data analysis with SPSS for Windows: a guide for social scientists.
[28] Cronbach, L. J. (1951). Coefficient alpha and the internal structure of tests.psychometrika, 16(3), 297-334.
[29] Daske, H., Hail, L., Leuz, C., & Verdi, R. (2008). Mandatory IFRS reporting around the world: Early evidence on the economic consequences. Journal of accounting research, 46(5), 1085-1142.
[30] DeVellis, R. F. (2012). Scale development: Theory and applications (Vol. 26). Sage publications.
[31] Dhaliwal, Dan, et al. "Dividend taxes and implied cost of equity capital." Journal of Accounting Research 43.5 (2005): 675-708.
[32] Diamond, D. W. (1985). Optimal release of information by firms. The Journal of Finance, 40(4), 1071-1094.
[33] Dimitropoulos, P. E., Asteriou, D., Kousenidis, D., & Leventis, S. (2013). The impact of IFRS on accounting quality: Evidence from Greece. Advances in Accounting.
[34] Douthett, E. B., Duchac, J. E., Haw, I. M., & Lim, S. C. (2003). Differential levels of disclosure and the earnings–return association: evidence from foreign registrants in the United States. The International Journal of Accounting, 38(2), 145-162.
[35] Easton, P. D. (2004). PE ratios, PEG ratios, and estimating the implied expected rate of return on equity capital. The accounting review, 79(1), 73-95.
[36] Fama, E. F., & French, K. R. (1992). The cross‐section of expected stock returns. the Journal of Finance, 47(2), 427-465.
[37] Fama, E. F., & French, K. R. (1993). Common risk factors in the returns on stocks and bonds. Journal of financial economics, 33(1), 3-56.
[38] Fama, E. F., & French, K. R. (1997). Industry costs of equity. Journal of financial economics, 43(2), 153-193.
[39] Fant, L. F., & Peterson, D. R. (1995). The effect of size, book‐to‐market equity, prior returns, and beta on stock returns: january versus the remainder of the year. Journal of Financial Research, 18(2), 129-142.
[40] Ferreira, M. A., & Laux, P. A. (2007). Corporate governance, idiosyncratic risk, and information flow. The Journal of Finance, 62(2), 951-989.
[41] Fishman, M. J., & Hagerty, K. M. (1989). Disclosure decisions by firms and the competition for price efficiency. The Journal of Finance, 44(3), 633-646.
[42] Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of marketing research, 39-50.
[43] Francis, J. R., Khurana, I. K., & Pereira, R. (2005). Disclosure incentives and effects on cost of capital around the world. The Accounting Review, 80(4), 1125-1162.
[44] Francis, J., Nanda, D., & Olsson, P. (2008). Voluntary disclosure, earnings quality, and cost of capital. Journal of accounting research, 46(1), 53-99.
[45] Gebhardt, W. R., Lee, C. M., & Swaminathan, B. (2001). Toward an implied cost of capital. Journal of accounting research, 39(1), 135-176.
[46] Gietzmann, M. B., & Trombetta, M. (2003). Disclosure interactions: accounting policy choice and voluntary disclosure effects on the cost of raising outside capital. Accounting and Business Research, 33(3), 187-205.
[47] Gkougkousi and Mertens.(2010),.Capital Market Effects of Mandatory IFRS Adoption in the Financial Sector,.working paper, Rotterdam School of Management.
[48] Gove, P. B. (1981). Webster′s third new international dictionary of the English language, unabridged (Vol. 1). Merriam-Webster.
[49] Hail, L. (2002). The impact of voluntary corporate disclosures on the ex ante cost of capital for Swiss firms. Available at SSRN 279276.
[50] Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2006). Multivariate data analysis (Vol. 6). Upper Saddle River, NJ: Pearson Prentice Hall.
[51] Healy, P. M., & Palepu, K. G. (1993). The effect of firms′ financial disclosure strategies on stock prices. Accounting Horizons, 7(1), 1.
[52] Healy, P. M., & Palepu, K. G. (2001). Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of accounting and economics, 31(1), 405-440.
[53] Holder, A. D., Karim, K. E., Lin, K. J., & Woods, M. (2013). A content analysis of the comment letters to the FASB and IASB: Accounting for contingencies.Advances in Accounting, 29(1), 134-153.
[54] Hope, O. K. (2003). Disclosure practices, enforcement of accounting standards, and analysts′ forecast accuracy: An international study. Journal of accounting research, 41(2), 235-272.
[55] Kaiser, H. F. (1974). An index of factorial simplicity. Psychometrika, 39(1), 31-36.
[56] Karamanou, I., & Nishiotis, G. P. (2009). Disclosure and the cost of capital: Evidence from the market′s reaction to firm voluntary adoption of IAS. Journal of Business Finance & Accounting, 36(7‐8), 793-821.
[57] Kirk, R. E. (1982). Experimental design. John Wiley & Sons, Inc..
[58] Lakonishok, J., Shleifer, A., & Vishny, R. W. (1994). Contrarian investment, extrapolation, and risk. The journal of finance, 49(5), 1541-1578.
[59] Lambert, R., Leuz, C., & Verrecchia, R. E. (2007). Accounting information, disclosure, and the cost of capital. Journal of accounting research, 45(2), 385-420.
[60] Li, S. (2010). Does mandatory adoption of International Financial Reporting Standards in the European Union reduce the cost of equity capital?. The Accounting Review, 85(2), 607-636.
[61] Lintner, J. (1965). The valuation of risk assets and the selection of risky investments in stock portfolios and capital budgets. The review of economics and statistics, 13-37.
[62] Liu, C., Yao, L. J., Hu, N., & Liu, L. (2011). The impact of IFRS on accounting quality in a regulated market: An empirical study of China. Journal of Accounting, Auditing & Finance, 0148558X11409164.
[63] Loh, L. C. (2002). Gain from increased voluntary disclosure in corporate reporting. The Star Biz Weekly, 3.
[64] Loughran, T. (1997). Book-to-market across firm size, exchange, and seasonality: Is there an effect?. Journal of financial and quantitative analysis,32(03), 249-268.
[65] Meek, G. K., C. B. Roberts and S. J. Gray. (1995). Factors influencing voluntary annual report disclosures by U.S., U.K. and continental European multinational corporations. Journal of International Business Studies,555-572.
[66] Merton, R. C. (1987). A simple model of capital market equilibrium with incomplete information. The journal of finance, 42(3), 483-510.
[67] Mitton, T. (2002). A cross-firm analysis of the impact of corporate governance on the East Asian financial crisis. Journal of financial economics, 64(2), 215-241.
[68] Murphy, K. R., & Myors, B. (2004). Statistical power analysis. 2. Aufl., Mahwah: Earlbaum.
[69] Naser, K. (1998). Comprehensives of disclosure of non-financial companies listed on the Amman financial market. International Journal of Commerce and Management ,2(8),88-119.
[70] Naser, K. and K. Al-Khatib.( 2000). Determinants of the depth of information disclosure in the board of directors statements of a sample of Jordanian listed companies. Advances in International Accounting 13,99-118.
[71] Nunnally, J. (1978). Psychometric methods.
[72] Ohlson, J. A., & Juettner-Nauroth, B. E. (2005). Expected EPS and EPS growth as determinantsof value. Review of accounting studies, 10(2-3), 349-365.
[73] Patton, J. and I. Zelenka. (1997). An empirical analysis of the determinants of the extent of disclosure in annual reports of joint stock companies in the Czech Republic. The European Accounting Review 6 (4),605-626.
[74] Rosenberg, B., Reid, K., & Lanstein, R. (1985). Persuasive evidence of market inefficiency. The Journal of Portfolio Management, 11(3), 9-16.
[75] Sharpe, W. F. (1964). Capital asset prices: A theory of market equilibrium under conditions of risk*. The journal of finance, 19(3), 425-442.
[76] Shleifer, A., & Vishny, R. W. (2003). Stock market driven acquisitions. Journal of financial Economics, 70(3), 295-311.
[77] Sloan, R. G. (2001). Financial accounting and corporate governance: a discussion. Journal of Accounting and Economics, 32(1), 335-347.
[78] Velury, U. (1999). The effect of institutional ownership on the quality of earnings(Doctoral dissertation, University of South Carolina).
[79] Verrecchia, R. E. (2001). Essays on disclosure. Journal of accounting and economics, 32(1), 97-180.
[80] Yip, R. W., & Young, D. (2012). Does mandatory IFRS adoption improve information comparability?. The Accounting Review, 87(5), 1767-1789.
指導教授 蔡文賢(Wen-Hsien Tsai) 審核日期 2016-8-18
推文 facebook   plurk   twitter   funp   google   live   udn   HD   myshare   reddit   netvibes   friend   youpush   delicious   baidu   
網路書籤 Google bookmarks   del.icio.us   hemidemi   myshare   

若有論文相關問題,請聯絡國立中央大學圖書館推廣服務組 TEL:(03)422-7151轉57407,或E-mail聯絡  - 隱私權政策聲明