國際多角化與會計保守性; International diversification and accounting conservatism

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Please use this identifier to cite or link to this item: http://ir.lib.ncu.edu.tw/handle/987654321/48751

Title:	國際多角化與會計保守性;International diversification and accounting conservatism
Authors:	謝佩珊;Pei-san Hsieh
Contributors:	企業管理研究所
Keywords:	超額價值;國際多角化;會計保守性;International diversification;accounting conservatism;excess value
Date:	2011-06-22
Issue Date:	2012-01-05 15:05:42 (UTC+8)
Abstract:	本研究探討保守會計與國際多角化之間的關係以及國際多角化與保守會計如何影響公司價值。過去研究主要探討多角化策略與公司績效之間的關係以及股權結構對多角化績效的影響；有別於過去學者研究，本研究分別以保守會計的供給面與需求面探討國際多角化策略對保守會計之影響，並以三種不同的方式衡量會計保守性。實證結果顯示，在不同保守會計衡量方法下，相較於無多角化公司，國際多角化公司會傾向使用保守會計政策，減少其資訊不對稱情形，並提供較具攸關與可靠的財務報導給外部使用人；可藉此推論出經理人係基於公司極大化價值為目標進行國際多角化策略。本研究進一步探討落實公司監理機制，為國際多角化公司帶來公司價值變動，實證結果指出當國際多角化公司採用保守會計作為公司監理機制時，仍會產生多角化溢價的現象，使公司價值增加幅度產生加乘效果。 This study examines how the extent of international diversification influence accounting conservatism and moderating role of accounting conservatism on the excess value attributed to international diversification. The empirical evidence reveals that the extent of international diversification is positively related to the likelihood to appoint high-conservatism. Further, Firms appointing high-conservatism suffer less diversification discount attributed to international diversification. Overall, our result are consistent with conjecture that high-conservatism is an effective mechanism to reduce agency cost arising from diversification.
Appears in Collections:	[Graduate Institute of Business Administration] Electronic Thesis & Dissertation

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