前瞻性資訊揭露與公司治理對價值攸關性的影響

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姓名

謝智麒(HSIEH,CHIH-CHI) 查詢紙本館藏

畢業系所

企業管理學系

論文名稱

前瞻性資訊揭露與公司治理對價值攸關性的影響
(The influence of forward-looking disclosure and corporate governance on value relevance)

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至系統瀏覽論文 (2028-7-11以後開放)

摘要(中)

過去台灣在實施自願性財務預測制度之後，企業揭露的數量逐年減少，因此本研究檢驗了企業另一種揭露管道：年報，期望能透過新的方式替代自願性財務預測來改善此問題。本研究主要探討的議題為公司治理對年報中前瞻性資訊揭露的影響，同時檢驗前瞻性資訊揭露對於未來盈餘的影響力。本研究採用台灣2012至2016年上下市(櫃)公司的年報做為樣本來源，研究發現公司治理會對前瞻性資訊揭露有影響，機構所有人持股、內部人持股、董事會規模、董事會組成、董事會會議頻率對前瞻性資訊揭露有影響。本研究進一步發現前瞻性資訊揭露會提升當前股價對於未來盈餘的影響力，並且擁有較好公司治理的企業所揭露的前瞻性資訊對未來盈餘影響力較強。

摘要(英)

After Taiwan introduced the voluntary financial forecast disclosure system, enterprise declined their disclosure willingness year by year. Therefore, this paper examine annual report, the other way company may disclosure their private information, to improve this problem. The main topic in this study is whether the forward-looking statements driven by governance are informative about future earnings. We collect our data from annual report of company during 2012 to 2016. Our variables including institutional ownership, insider ownership, board size, board composition, and board meeting frequency. These results suggest that better corporate governance improves annual report. We further find that the forward-looking statements improve the stock market’s ability to anticipate future earnings and better corporate governance of well governed firms would strongly influence the ability to anticipate future earnings.

關鍵字(中)

★ 前瞻性資訊揭露
★ 公司治理
★ 價值攸關性

關鍵字(英)

論文目次

目錄
摘要 I
Abstract II
誌謝 III
目錄 IV
表目錄 V
第一章緒論 1
第一節、研究動機 1
第二節、研究目的 3
第三節、研究貢獻 3
第二章文獻探討 5
第一節、公司治理與前瞻性資訊揭露 5
第二節、本期股價對未來盈餘影響 10
第三節、前瞻性資訊揭露相關文獻 12
第三章假說發展 15
第一節、公司治理與前瞻性資訊揭露 15
第二節、本期股價對未來盈餘影響與前瞻性資訊揭露 20
第三節、公司治理、前瞻性資訊揭露與本期股價對未來盈餘影響 21
第四章研究方法 22
第一節、樣本選擇與資料來源 22
第二節、實證模型與變數定義 25
第五章實證結果 29
第一節、敘述性統計與相關分析 29
第二節、迴歸分析 33
第六章結論與建議 40
第一節、研究結論 40
第二節、研究限制與建議 41
參考文獻 42

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指導教授

曹壽民

審核日期

2018-7-12

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