English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 91287/121427 (75%)
Visitors : 25450168      Online Users : 236
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/30323
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/30323

    Title: 氣候相關變數與盈餘反應係數關聯性之跨國研究
    Authors: 呂倩如
    Contributors: 金成隆

    Keywords: 盈餘反應係數
    Date: 2007
    Issue Date: 2009-09-11 17:39:56 (UTC+8)
    Abstract: 本文主要目的在探討當天氣(雲量及氣溫)、日照小時數以及會影響人們生理週期(如睡眠型態的改變)的日光節約制等外在環境因素引發投資人情緒變化時,是否會影響各國投資人對公司會計盈餘宣告資訊之解讀與反應,且是否會因為公司盈餘宣告所傳遞的為好消息或壞消息而不同。此外,本文亦進一步檢視在不同國家層級的機制背景所塑造出的不同資訊環境(例如財務透明度高低以及成文法系或不成文法系)下,上述氣候效應是否存在差異性。<br>由於心理學文獻指出,一些外在環境因素會引發投資人的情緒反應,而投資人情緒又會影響其對資訊的處理過程以及風險趨避程度,另一方面,行為財務學文獻則指出投資人情緒會影響其對公司資訊之解讀,因此本文以跨洲及跨緯度共25國於1990年至2006年間共169,177筆的公司季盈餘宣告為樣本分析此現象。整體而言,本研究發現氣候等外在環境因素所引發的投資人情緒確實會影響其對公司盈餘宣告資訊之解讀;且當公司盈餘宣告傳遞的為好消息時,投資人因雲量較少、氣溫較低、日照小時數較長或未受到日光節約制影響而心情比較好時,會促使對未來較為樂觀且對資訊的處理較為隨意,故對於好消息的反應更為正面,但若處於較差的心情時,則對未來比較悲觀且處理資訊相對嚴謹,因此會比較保守地看待好消息而減少原本對好消息應有的正向反應。相對地,上述外在環境因素對公司盈餘宣告壞消息的影響則相反。<br>最後,由於本研究未發現任何外在環境因素所引發的投資人情緒對公司盈餘宣告資訊的反應存在明顯的緯度或地區等地理上的趨勢,因而嘗試由制度環境面加以解釋上述現象,亦即探討資訊環境的完善度是否會影響氣候效應的差異性。本文發現當國家層級的法律制度等機制背景使得其股市發展程度較高且財務資訊較多較可靠時,投資人更能透過公司的資訊揭露取得瞭解公司經營狀況的真實資訊,其所要考量的投資決策之複雜性、風險及未來不確定性確實較低,因此資訊環境較完善(高財務透明度或為不成文法系)的國家,其投資人對公司盈餘資訊宣告的反應受氣候等相關因素影響之程度較小。
    Reference: Abdelsalam, M. and D. Satin. 1988. The impact of published annual financial reports on share prices in Saudi Arabia. The International Journal of Accounting 23: 113-124.
    Abele, A. 1985. Thinking about thinking. Causal, evaluative and finalistic cognitions about social situations. European Journal of Social Psychology 13: 315-332.
    Ahmed, A. S. 1994. Accounting earnings and future economic rents. Journal of Accounting and Economics 17: 377-400.
    Alford, A., J. Jones, R. Leftwich, and M. Zmijewski. 1993. The relative informative- ness of accounting disclosures in different countries. Journal of Accounting Research 31: 183-223.
    Ali, A. and L. Hwang. 2000. Country-specific factors related to financial reporting and the value relevance of accounting data. Journal of Accounting Research 38: 1-22.
    Allen, A. M. and G. J. Fisher. 1978. Ambient temperature effects on paired associate learning. Ergonomics 21: 95-101.
    Andrews, D. W. K. 1991. Heteroskedasticity and autocorrelation consistent co- variance matrix estimation. Econometrica 59: 817-858.
    Arellano, M. 1987. Computing robust standard errors for within-groups estimators. Oxford Bulletin of Economics and Statistic 49: 431-433.
    Bailey, W., G. A. Karolyi, and C. Salva. 2006. The economic consequences of increased disclosure: Evidence from international cross-listings. Journal of Financial Economics 81: 175-213.
    Baker, M. and J. C. Stein. 2004. Market liquidity as a sentiment indicator. Journal of Financial Markets 7: 271-299.
    Baker, M. and J. Wurgler. 2006. Investor sentiment and the cross-section of stock returns. Journal of Finance 61: 1645-1680.
    Goetzmann, W. N. and N. Zhu. 2005. Rain or shine: Where is the weather effect? European Financial Management 11: 559-578.
    Greenwood, R. and S. Nagel. 2006. Inexperienced investors and bubbles. Working Paper. Harvard Business School.
    Griffin, D. and A. Tversky. 1992. The weighing of evidence and the determinants of confidence. Cognitive Psychology 24: 411-435.
    Grinblatt, M. and M. Keloharju. 2001. How distance, language, and culture influence stockholdings and trades. Journal of Finance 56: 1053-1073.
    Guenther, D. and D. Young. 2000. The association between financial accounting measures and real economic activity: A multinational study. Journal of Accounting and Economics 29: 53-72.
    Hanoch, Y. 2002. Neither an angel nor an ant: Emotion as an aid to bounded rationality. Journal of Economic Psychology 23: 1-25.
    Harper, R. M. J., W. G. Mister, and J. R. Strawser. 1987. The impact of new pension disclosure rules on perceptions. Journal of Accounting Research 25: 327-330.
    Harris, T. S., M. Lang, and H. P. Moller. 1994. The value relevance of German accounting measures: An empirical analysis. Journal of Accounting Research 32: 187-209.
    He, W., G. M. Mian, and S. Sankaraguruswamy. 2007. Market sentiment, investor size and reaction to firm-specific news. Working Paper. National University of Singapore.
    Hicks, R. A., K. Lyndseth, and J. Hawkins. 1983. Daylight-saving time changes increase traffic accidents. Perceptual and Motor Skills 56: 64-66.
    Baker, M. and J. Wurgler. 2007. Investor sentiment in the stock market. Journal of Economic Perspectives 21: 129-151.
    Hilton, D. J. 2001. The psychology of financial decision-making: Applications to trading, dealing, and investment analysis. Journal of Psychology and Financial Markets 2: 37-53.
    Hirshleifer, D. and T. Shumway. 2003. Good day sunshine: Stock returns and the weather. Journal of Finance 58: 1009-1032.
    Hirshleifer, D. 2001. Investor psychology and asset pricing. Journal of Finance 56: 1533-1597.
    Hirst, D. and P. E. Hopkins. 1998. Comprehensive income reporting and analysts’ valuation judgments. Journal of Accounting Research 36: 47-75.
    Hodge, F. 2003. Investors’ perceptions of earnings quality, auditor independence, and the usefulness of audited financial information. Accounting Horizons 17: 37-48.
    Holthausen, R. and R. Verrecchia. 1988. The effect of sequential information releases on the variance of price changes in an intertemporal multi-assets market. Journal of Accounting Research 26: 82-106.
    Hope, O. K. 2001. A study of international variations in the financial reporting environment, disclosure practices and analysts’ forecasts. Unpublished doctoral dissertation. Northwestern University.
    Hope, O. K. 2003. Disclosure practices, enforcement of accounting standards and analyst forecast accuracy: An international study. Journal of Accounting Research 41: 235-272.
    Hopkins, P. E. 1996. The effect of financial statement classification of hybrid financial instruments on financial analysts’ stock price judgments. Journal of Accounting Research 34: 33-50.
    Hopkins, P. E., R. W. Houston, and M. F. Peters. 2000. Purchase, pooling, and equity analysts’ valuation judgments. The Accounting Review 75: 257-281.
    Ball, R. and P. Brown. 1968. An empirical evaluation of accounting income numbers. Journal of Accounting Research 6: 159-178.
    Howarth, E. and M. S. Hoffman. 1984. A multidimensional approach to the relationship between mood and weather. British Journal of Psychology 75: 15-23.
    Hung, M. 2000. Accounting standards and value relevance of earnings: An international analysis. Journal of Accounting and Economics 30: 401-420.
    Ikenberry, D., J. Lakonishok, and T. Vermaelen. 1995. Market underreaction to open market share repurchases. Journal of Financial Economics 39: 181-208.
    Isen, A. M. 2000. Positive affect and decision making. In M. Lewis and J. M. Haviland-Jones (eds.), Handbook of Emotions. New York: Guilford Press.
    Isen, A. M., T. E. Shalker, M. Clark, and L. Karp. 1978. Affect, accessibility of material in memory, and behavior: A cognitive loop? Journal of Personality and Social Psychology 36: 1-12.
    Izard, C. E. 1977. Human Emotions. New York: Plenum.
    Izard, C. E. 1991. The Psychology of Emotions. New York: Plenum.
    Jaggi, B. and P. Low. 2000. Impact of culture, market forces, and legal system on financial disclosures. International Journal of Accounting 3: 495-519.
    Jegadeesh, N. and S. Titman. 1993. Returns to buying winners and selling losers: Implications for stock market efficiency. Journal of Finance 48: 65-91.
    Jagadeesh, N. and W. Kim. 2006. Value of analyst recommendations: International evidence. Journal of Financial Markets 9: 274-309.
    Ball, R., S. P. Kothari, and A. Robin. 2000. The effect of international institutional factors on properties of accounting earnings. Journal of Accounting and Economics 29: 1-52.
    Jensen, M. and W. Meckling. 1976. Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3: 305-360.
    Johnson, E. J., J. Hershey, J. Meszaros, and H. Kunreuther. 1993. Framing, probability distortions, and insurance decisions. Journal of Risk and Uncertainty 7: 35-51.
    Johnson, E. J. and A. Tversky. 1983. Affect, generalization, and the perception of risk. Journal of Personality and Social Psychology 45: 20-31.
    Kahneman, D. and M. W. Riepe. 1998. Aspects of investor psychology. Journal of Portfolio Management 24: 52-65.
    Kahneman, D. and A. Tversky. 1979. Prospect theory: An analysis of decision under risk. Econometrica 46: 171-185.
    Kahneman, D. and A. Tversky. 1984. Choices values and frames. American Psychologist 39: 341-350.
    Kamstra, M. J., L. A. Kramer, and M. D. Levi. 2000. Losing sleep at the market: The daylight-savings anomaly. American Economic Review 90: 1005-1011.
    Kamstra, M. J., L. A. Kramer, and M. D. Levi. 2002. Losing sleep at the market: The daylight saving anomaly: Reply. American Economic Review 92: 1257-1263.
    Kamstra, M. J., L. A. Kramer, and M. D. Levi. 2003. Winter Blues: A sad stock market cycle. American Economic Review 93: 324-343.
    Kaufman, B. E. 1999. Emotional arousal as a source of bounded rationality. Journal of Economic Behavior and Organization 38: 135-144.
    Ball, R., A. Robin, and J. S. Wu. 2003. Incentives versus standards: Properties of accounting income in four East Asian countries. Journal of Accounting and Economics 36: 235-270.
    Keim, D. B. 1983. Size-related anomalies and stock return seasonality: Further empirical evidence. Journal of Financial Economics 12: 13-32.
    Keim, D. B. and W. Ziemba. 2000. Security market imperfections: An overview. In D. B. Keim and W. T. Ziemba (eds.), Security Market Imperfections in Worldwide Equity Markets. Cambridge, UK: Cambridge University Press.
    Kormendi, R. and R. Lipe. 1987. Earnings innovations, earnings persistence and stock returns. Journal of Business 60: 323-345.
    Kubota, K. 1980. Information content of accounting numbers: Evidence on Tokyo Stock Exchange firms. The International Journal of Accounting 15: 61-76.
    Kumar, A. and C. Lee. 2006. Retail investor sentiment and return comovement. Journal of Finance 61: 2451-2486.
    Laibson, D. 2001. A cue-theory of consumption. Quarterly Journal of Economics 66: 81-119.
    Lam, R. W. and R. D. Levitan. 2000. Pathophysiology of seasonal affective disorder: A review. Journal of Psychiatry and Neuroscience 25: 469-480.
    La Porta, R., F. Lopez-de-Silanes, and A. Shleifer. 2006. What works in securities laws? Journal of Finance 61: 1-32.
    La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. W. Vishny. 1997. Legal determinants of external finance. Journal of Finance 52: 1131-1150.
    La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. W. Vishny. 1998. Law and finance. Journal of Political Economy 106: 1113-1155.
    Ballester, M. and J. Livnat. 1997. The association between security prices and financial information in the Spanish Stock Market. Journal of International Financial Management and Accounting 8: 114-136.
    La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. W. Vishny. 1999. The quality of government. Journal of Law, Economics and Organization 15: 222-279.
    La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. W. Vishny. 2000. Investor protection and corporate governance. Journal of Financial Economics 58: 3-27.
    Lazarus, R. S. 1991. Emotion and Adaptation. New York: Oxford University Press.
    Lee, W. Y., C. X. Jiang, and D. C. Indro. 2002, Stock market volatility, excess returns, and the role of investor sentiment. Journal of Banking and Finance 26: 2277-2299.
    Lee, C., A. Shleifer, and R. H. Thaler. 1991. Investor sentiment and the closed-end fund puzzle. Journal of Finance 46: 75-109.
    Lemmon, M. and E. Portniaguina. 2006. Consumer confidence and asset prices: Some empirical evidence. Review of Financial Studies 19: 1499-1529.
    Leuz, C., D. Nanda, and P. D. Wysocki. 2003. Earnings management and investor protection: An international comparison. Journal of Financial Economics 69: 505-527.
    Lev, B. 1989. On the usefulness of earnings: Lessons and directions from two decades of empirical research. Journal of Accounting Research 27: 153-201.
    Lev, B. and B. Yahalomi. 1972. The effect of corporate financial statements on the Israeli Stock Exchange. Management International Review 12: 145-149.
    Liang, K. Y. and S. Zeger. 1986. Longitudinal analysis using generalized linear models. Biometrika 73: 13-22.
    Barber, B. M., T. Odean, and N. Zhu. 2006. Systematic noise. Working Paper. University of California, Davis.
    Libby, R. and H. T. Tan. 1999. Analysts’ reactions to warnings of negative earnings. Journal of Accounting Research 37: 415-436.
    Lipe, R. 1990. The relation between stock returns and accounting earnings given alternative information. The Accounting Review 65: 49-71.
    Lo, A. W. and D. V. Repin. 2002. The psychophysiology of real-time financial risk processing. Journal of Cognitive Neuroscience 14: 323-339.
    Loewenstein, G. 2000. Emotions in economic theory and economic behavior. American Economic Review 65: 426-432.
    Loewenstein, G., E. U. Weber, C. K. Hsee, and N. Welch. 2001. Risk as feelings. Psychological Bulletin 127: 267-286.
    Loewenstein, G., T. O’Donoghue, and M. Rabin. 2002. Projection bias in predicting future utility. Working Paper. University of California, Berkeley.
    Loughran, T. and J. R. Ritter. 1995. The new issues puzzle. Journal of Finance 50: 23-51.
    Loughran, T. and P. Schultz. 2004. Weather, stock returns, and the impact of localized trading behavior. Journal of Financial and Quantitative Analysis 39: 343-364.
    Luce, M. F., J. W. Payne, and J. R. Bettman. 1999. Emotional trade-off difficulty and choice. Journal of Marketing Research 36: 143-159.
    Lucey, B. M. and M. Dowling. 2005. The role of feelings in investor decision-making. Journal of Economic Surveys 19: 211-237.
    Barberis, N., A. Shleifer, and R. Vishny. 1998. A model of investor sentiment. Journal of Financial Economics 49: 307-343.
    Mahoney, P. 1995. Mandatory disclosure as a solution to agency problems. University of Chicago Law Review 62: 1047-1112.
    Maingot, M. 1984. The information content of U.K. annual earnings announcements: A note. Accounting and Finance 24: 51-58.
    Mandler, G. 1984. Mind and Body: Psychology of Emotion and Stress. New York: Norton.
    Markowitz, H. 1952. Portfolio selection. Journal of Finance 7: 77-91.
    Mayo Clinic. 2002. Seasonal affective disorder. Online at http://www.mayoclinic. com.
    Mehra, R. and R. Sah. 2002. Mood fluctuations, projection bias and volatility of equity prices. Journal of Economic Dynamics and Control 26: 869-887.
    Molin, J., E. Mellerup, T. Bolwig, T. Scheike, and H. Dam. 1996. The influence of climate on development of winter depression. Journal of Affective Disorders 37: 151-155.
    Monk, T. H. 1980. Traffic accident increases as a possible indicant of desynchronsis. Cronobiologica 7: 527-529.
    Moulton, B. 1986. Random group effects and the precision of regression estimates. Journal of Econometrics 32: 385-397.
    Moulton, B. 1990. An illustration of a pitfall in estimating the effects of aggregate variables on micro units. Review of Economics and Statistics 72: 334-338.
    Barberis, N. and R. H. Thaler. 2003. A survey of behavioral finance. In G. Constantinides, M. Harris, and R. M. Stulz (eds.), Handbook of the Economics of Finance. Amsterdam: North-Holland.
    Neal, R. and S. M. Wheatley. 1998. Do measures of investor sentiment predict returns? Journal of Financial and Quantitative Analysis 33: 523-547.
    Niarchos, N. A. and M. C. Georgakopoulos. 1986. The effect of annual corporate profit reports on the Athens Stock Exchange: An empirical investigation. Management International Research 26: 64-72.
    Mueller, G. G., H. Gernon, and G. Meek. 1994. Accounting: An International Perspective. New York: Business One Irwin.
    Odean, T. 1998a. Volume, volatility, price and profit when all traders are above average. Journal of Finance 53: 1887-1934.
    Odean, T. 1998b. Are investors reluctant to realize their losses? Journal of Finance 53: 1775-1798.
    Ohlson, J. 1989. Ungarbled earnings and dividends. Journal of Accounting and Economics 11: 109-115.
    Olsen, R. A. 1998. Behavioral finance and its implications for stock-price volatility. Financial Analysts Journal 54:10-18.
    Palinkas, L. A. and M. Houseal. 2000. Stages of change in mood and behavior during a winter in Antarctica. Environment and Behavior 32: 128-141.
    Palinkas, L. A., M. Houseal, and N. E. Rosenthal. 1996. Subsyndromal seasonal affective disorder in Antarctica. Journal of Nervous and Mental Disease 184: 530-534.
    Persinger, M. A. 1975. Lag responses in mood reports to changes in the weather matrix. International Journal of Biometeorology 19: 108-114.
    Baron, R. A. and V. M. Ransberger. 1978. Ambient temperature and the occurrence of collective violence: The long, hot summer revisited. Journal of Personality and Social Psychology 36: 351-360.
    Peters, E. and P. Slovic. 1996. The role of affect and worldviews as orienting dispositions in the perception and acceptance of nuclear power. Journal of Applied Social Psychology 26: 1427-1453.
    Petersen, M. A. 2007. Estimating standard errors in finance panel data sets: Comparing approaches. Working Paper. Northwestern University.
    Petty, R. E., F. Gleicher, and S. M. Baker. 1991. Multiple roles for affect in persuasion. In J. P. Forgas (ed.), Emotion and Social Judgment. New York: Pergamon Press.
    Pilcher, J. J., E. Nadler, and C. Busch. 2002. Effects of hot and cold temperature exposure on performance: A meta-analytic review. Ergonomics 45: 682-698.
    Pinegar, J. M. 2002. Losing sleep at the market: Comment. American Economic Review 92: 1251-1256.
    Pownall, G. and K. Schipper. 1999. Implications of accounting research for the SEC’s consideration of international accounting standards for US securities offerings. Accounting Horizons 13: 259-280.
    Rind, B. 1996. Effects of beliefs about weather conditions on tipping. Journal of Applied Social Psychology 26: 137-147.
    Rogers, J. L. and P. C. Stocken. 2005. Credibility of management forecasts. The Accounting Review 80: 1233-1260.
    Rogers, W. 1993. Regression standard errors in clustered samples. Stata Technical Bulletin 13: 19-23.
    Romer, P. M. 2000. Thinking and feeling. American Economic Review 90: 439-443.
    Bartov, E., S. Radhakrishnan, and I. Krinsky. 2000. Investor sophistication and patterns in stock returns after earnings announcements. The Accounting Review 75: 43-63.
    Rosenthal, N. E. 1998. Winter Blues: Seasonal Affective Disorder: What It Is, and How to Overcome It. New York: Guilford Press.
    Sanders, J. L. and M. S. Brizzolara. 1982. Relationships between mood and weather. Journal of General Psychology 107: 157-158.
    Saunders, E. M. 1993. Stock prices and Wall Street weather. American Economic Review 83: 1337-1345.
    Schneider, F. W., W. A. Lesko, and W. A. Garrett. 1980. Helping behavior in hot, comfortable and cold temperature: A field study. Environment and Behavior 12: 231-241.
    Schwarz, N. 1990. Feelings as information: Informational and motivational functions of affective states. In E. T. Higgins (ed.), Handbook of Motivation and Cognition, Vol. 2. New York: Guildford Press.
    Schwarz, N. and G. L. Clore. 1983. Mood, misattribution, and judgments of well-being: Informative and directive functions of affective states. Journal of Personality and Social Psychology 45: 513-523.
    Schwarz, N. and G. L. Clore. 1988. How do I feel about it? The informative function of affective states. In J. Forgas (ed.), Affect, Cognition, and Social Behavior. Toronto: Hogrefe.
    Schwert, G. W. 2002. Anomalies and market efficiency. Working Paper. Simon School of Business, University of Rochester.
    Shanks, T. G. 1985. The International Atlas. San Diego, CA: ACS Publications.
    Shiller, R. J., F. K. Ya, and Y. Tsutsui. 1996. Why did the Nikkei Crash? Expanding the scope of expectations data collection. Review of Economics and Statistics 78: 156-164.
    Basu, S. 1997. The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics 24: 3-37.
    Shleifer, A. 2000. Inefficient Markets: An Introduction to Behavioral Finance. Oxford: Oxford University Press.
    Shleifer, A. and R. Vishny. 1997. A survey of corporate governance. Journal of Finance 52: 737-783.
    Simon, H. A. 1983. Reason in Human Affairs. Stanford: Stanford University Press.
    Sinclair, R. C. and M. Mark. 1995. The effects of mood state on judgmental accuracy: Processing strategy as a mechanism. Cognition and Emotion 9: 417-438.
    Sloan, R. 1996. Do stock prices fully reflect information in accruals and cash flows about future earnings? The Accounting Review 71: 289-316.
    Slovic, P. 1987. Perception of risk. Science 236: 280-285.
    Slovic, P., M. L. Finucane, E. Peters, and D. G. MacGregor. 2002. The affect heuristic. In D. Kahneman (ed.), Heuristics and Biases: The Psychology of Intuitive Judgment. Cambridge: Cambridge University Press.
    Teoh, S., I. Welch, and T. Wong. 1998a. Earnings management and the long-run underperformance of seasoned equity offerings. Journal of Financial Economics 50: 63-100.
    Teoh, S., I. Welch, and T. Wong. 1998b. Earnings management and the long-run underperformance of initial public offerings. Journal of Finance 53: 1935-1974.
    Teoh, S. and T. Wong. 1993. Perceived auditor quality and the earnings response coefficient. The Accounting Review 68: 346-367.
    Beaver, W. 1968. The information content of annual earnings announcements. Journal of Accounting Research 6: 67-92.
    Tietjen, G. H. and D. F. Kripke. 1994. Suicides in California (1968-1977)- Absence of seasonality in Los Angeles and Sacramento Counties. Psychiatric Research 53: 161-172.
    Watson, D. 2000. Situational and environmental influence on mood. In: Mood and Temperament. New York: Guilford Press.
    White, H. 1980. A heteroskedasticity-consistent covariance matrix estimator and a direct test of heteroskedasticity. Econometrica 48: 817-838.
    Williams, P. A., G. D. Moyes, and K. Park, 1996. Factors affecting earnings forecast revisions for the buy-side and sell-side analyst. Accounting Horizons 10: 112-121.
    Williams, R. J. and G. G. Schmidt. 1993. Frequency of seasonal affective disorder among individuals seeking treatment at a Northern Canadian Medical Health Center. Psychiatry Research 46: 41-45.
    Williams, R. L. 2000. A note on robust variance estimation for cluster-correlated data. Biometrics 56: 645-646.
    Wood, J. K., J. A. Saltzberg, J. M. Neale, A. A. Stone, and T. B. Rachmiel. 1990. Self-focused attention, coping responses, and distressed mood in everyday life. Journal of Personality and Social Psychology 58: 1027-1036.
    Wright, W. E. and G. H. Bower. 1992. Mood effects on subjective probability assessment. Organizational Behavior and Human Decision Processes 52: 276-291.
    Wyer, R. S. and D. E. Carlston. 1979. Social Cognition, Inference, and Attribution. Hillsdale, NJ: Lawrence Erlbaum Associates, Inc.
    Yates, J. F. and L. G. Zukowski. 1976. Characterization of ambiguity in decision making. Behavioral Science 21:19-25.
    Beaver, W., R. Clarke, and F. Wright. 1979. The association between unsystematic security returns and the magnitude of earnings forecast errors. Journal of Accounting Research 17: 316-340.
    Yetman, M. H. 2001. Accounting-based value metrics and the informational efficiency of IPO early market prices. Working Paper. University of Iowa.
    Yohai, V. J. 1987. High breakdown-point and high efficiency robust estimates for regression. The Annals of Statistics 15: 642-656.
    Young, M. A., P. M. Meaden, L. F. Fogg, E. A. Cherin, and C. I. Eastman. 1997. Which Environmental variables are related to the onset of seasonal affective disorder? Journal of Abnormal Psychology 106: 554-562.
    Zajonc, R. B. 1980. Feeling and thinking: Preferences need no inferences. American Psychologist 35: 151-175.
    Beaver, W., R. Lambert, and D. Morse. 1980. The information content of security prices. Journal of Accounting and Economics 2: 3-28.
    Beaver, W., R. Lambert, and S. Ryan. 1987. The information content of security prices: A second look. Journal of Accounting and Economics 9: 139-157.
    Bechara, A., A. Damasio, D. Tranel, and A. R. Damasio. 1997. Deciding advantage- ously before knowing the advantageous strategy. Science 275: 1293-1295.
    Becker, S. W. and F. O. Brownson. 1964. What price ambiguity? Or the role of ambiguity in decision making. Journal of Political Economy 72: 62-73.
    Bell, P. A. 1981. Physiological comfort, performance and social effects of heat stress. Journal of Social Issues 37: 71-94.
    Benartzi, S. and R. H. Thaler. 1995. Myopic loss aversion and the equity premium puzzle. Quarterly Journal of Economics 110: 75-92.
    Berger, P. and R. Hann. 2003. The impact of SFAS No. 131 on information and monitoring. Journal of Accounting Research 41: 163-223.
    Bernard, V. L. and R. G. Ruland. 1987. The incremental information content of historical cost and current cost income numbers: Time-series analyses for 1962-1980. The Accounting Review 62: 707-722.
    Bernard, V. L. and J. Thomas. 1989. Post-earnings announcement drift: Delayed price response or risk premium? Journal of Accounting Research 27: 1-48.
    Bernard, V. L. and J. Thomas. 1990. Evidence that stock prices do not fully reflect the implications of current earnings for future earnings. Journal of Accounting and Economics 13: 305-340.
    Bhattacharya, U. and H. Daouk. 2002. The world pricing of insider trading. Journal of Finance 57: 75-108.
    Biddle, G. and G. Seow. 1991. The estimation and determinants of association between returns and earnings: Evidence from cross-industry comparisons. Journal of Accounting, Auditing and Finance 6: 183-232.
    Bless, H. 2000. Moods and general knowledge structures: Happy moods and their impact on information processing. In J. P. Forgas (Ed.), Feeling and Thinking: the Role of Affect in Social Cognition. New York: Cambridge University Press.
    Bless, H., N. Schwarz, and M. Kemmelmeier. 1996. Mood and stereotyping: The impact of moods on the use of general knowledge structures. European Review of Social Psychology 7: 63-93.
    Bower, G. H. 1981. Mood and memory. American Psychologist 36: 129-148.
    Bower, G. H. 1991. Mood congruity of social judgments. In J. P. Forgas (ed.), Emotion and Social Judgment. New York: Pergamon Press.
    Brown, G. W. and M. T. Cliff. 2004. Investor sentiment and the near-term stock market. Journal of Empirical Finance 11: 1-27.
    Burgstahler, D., L. Hail, and C. Leuz. 2006. The importance of reporting incentives: Earnings management in European private and public firms. The Accounting Review 81: 983-1016.
    Burgstahler, D., J. Jiambalvo, and T. Shevlin. 1999. Time-series properties and pricing of special items component of earnings. Working Paper, University of Washington.
    Bushman, R. M., J. D. Piotroski, and A. J. Smith. 2004. What determines corporate transparency? Journal of Accounting Research 42: 207-252.
    Cao, M. and J. Wei. 2005a. Stock market returns: A note on temperature anomaly. Journal of Banking and Finance 29: 1559-1573.
    Cao, M. and J. Wei. 2005b. An expanded study on the stock market temperature anomaly. Research in Finance 22: 73-112.
    Carton, S., R. Jouvent, C. Bungener, and D. Widlocher. 1992. Sensation seeking and depressive mood. Personality and Individual Differences 13: 843-849.
    Center for International Analysis and Research (CIFAR). 1995. International accounting and auditing trends. Fourth edition. Princeton, NJ: CIFAR Publication Inc.
    Chang, J., T. Khanna, and K. Palepu. 2000. Analyst activity around the world. Working Paper. Harvard Business School.
    Chang, S. C., S. S. Chen, R. K. Chou, and Y. H. Lin. 2007. Weather and intraday patterns in stock returns and trading activity. Journal of Banking and Finance, forthcoming.
    Cho, J. Y. and K. Jung. 1991a. Earnings response coefficients: A synthesis of theory and empirical evidence. Journal of Accounting Literature 10: 85-116.
    Cho, J. Y. and K. Jung. 1991b. The differential information content of earnings announcements: The case of merger. Contemporary Accounting Research 8: 42-61.
    Choi, S. K. and D. C. Jeter. 1992. The effects of qualified audit opinions on earnings response coefficients. Journal of Accounting and Economics 15: 229-247.
    Choi, S. K. and G. Salamon. 1994. External reporting and capital asset prices. Advances in Quantitative Analysis of Finance and Accounting 3: 85-110.
    Clore, G. L. and W. G. Parrott. 1991. Moods and their vicissitudes: Thoughts and feelings as information. In J. P. Forgas (ed.), Emotion and Social Judgment. New York: Pergamon Press.
    Clore, G. L., N. Schwarz, and M. Conway. 1994. Affective causes and consequences of social information processing. In R. S. Wyer and T. K. Srull (eds.), Handbook of Social Cognition. Hillsdale, NJ: Erlbaum.
    Cohen, R., P. Gompers, and T. Vuolteenho. 2002. Who underreacts to cash flow news? Evidence from trading between individuals and institutions. Journal of Financial Economics 66: 409-462.
    Collins, D. W. 1976. Predicting earnings with sub-entity data: Some further evidence. Journal of Accounting Research 14: 163-177.
    Collins, D. W. and L. DeAngelo. 1990. Accounting information and corporate governance: Market and analyst reactions to earnings of firms engaged in proxy contests. Journal of Accounting and Economics 13: 213-247.
    Collins, D. W. and S. Kothari. 1989. An analysis of inter-temporal and cross-sectional determinants of earnings response coefficients. Journal of Accounting and Economics 11: 143-181.
    Coren, S. 1996. Sleep Thieves. New York: Free Press.
    Cotter, J. and I. Zimmer. 2003. Disclosure versus recognition: The case of asset revaluations. Asia-Pacific Journal of Accounting and Economics 10: 81-99.
    Cunningham, M. R. 1979. Weather, mood and helping behavior: Quasi-experiments with the sunshine samaritan. Journal of Personality and Social Psychology 37: 1947-1956.
    Curley, S. P. and J. F. Yates. 1985. The center and range of the probability interval as factors affecting ambiguity preferences. Organizational Behavior and Human Decision Processes 36: 273-87.
    Damasio, A. 1994. Descartes’ error: Emotion, reason, and the human brain. New York: Putnam.
    Daniel, K. D., D. Hirshleifer, and A. Subramanyam. 2001. Mispricing, covariance risk, and the cross section of security returns. Journal of Finance 56: 921-965.
    Dechow, P., R. Sloan, and A. Sweeney. 1996. Causes and consequences of earnings manipulation: An analysis of firms subject to enforcement actions by the SEC. Contemporary Accounting Research 13: 1-36.
    DeFond, M., M. Hung, and R. Trezevant, 2007. Investor protection and the information content of annual earnings announcements: International evidence. Journal of Accounting and Economics 43: 37-67.
    DeLong, J. B. and A. Shleifer. 1991. The stock market bubble of 1929: Evidence from closed-end funds. Journal of Economic History 52: 675-700.
    DeLong, J. B., A. Shleifer, L. H. Summers, and R. J. Waldmann. 1990. Noise trader risk in financial markets. Journal of Political Economy 98: 703-738.
    Dhaliwal, D. S., K. J. Lee, and N. L. Fargher. 1991. The association between unexpected earnings and abnormal security returns in the presence of financial leverage. Contemporary Accounting Research 8: 20-41.
    Dhaliwal, D. S. and S. Reynolds. 1994. The effect of the default risk of debt on the earnings response coefficient. The Accounting Review 69: 412-419.
    Dietrich, J. R., S. J. Kachelmeier, D. N. Kleinmuntz, and T. J. Linsmeier. 2001. Market efficiency, bounded rationality and supplemental business reporting disclosures. Journal of Accounting Research 39: 243-268.
    Ding, D. K., C. Charoenwong, and R. Seetoh. 2004. Prospect theory, analyst forecasts, and stock returns. Journal of Multinational Financial Management 14: 425-442.
    Doane, D. C. 1980. Time Changes in the World. Tempe, AZ: American Federation of Astrologers.
    Doane, D. C. 1985. 1981-1985 World-wide Time Change Update. Tempe, AZ: American Federation of Astrologers.
    Doane, D. C. 1991. 1986-1990 World-wide Time Change Update. Tempe, AZ: American Federation of Astrologers.
    Dowling, M. and B. M. Lucey. 2005. Are weather induced moods priced in global equity markets? Working Paper. University of Dublin.
    Eagles, J. M. 1994. The relationship between mood and daily hours of sunlight in rapid cycling bipolar illness. Biological Psychiatry 36: 422-424.
    Easton, P. and T. S. Harris. 1991. Earnings as an explanatory variables for returns. Journal of Accounting Research 29: 19-36.
    Easton, P. and M. Zmijewski. 1989. Cross-sectional variation in the stock market response to accounting earnings announcements. Journal of Accounting and Economics 11: 117-141
    Edmans, A., D. Garcia, and O. Norli. 2007. Sports sentiment and stock returns. Journal of Finance 62: 1967-1998.
    Einhorn, H. J. and R. M. Hogarth. 1986. Decision making under ambiguity. The Journal of Business 59: 225-250.
    Eisenberg, A. E., J. Baron, and M. E. P. Seligman. 1998. Individual differences in risk aversion and anxiety. Working Paper. University of Pennsylvania.
    Elster, J. 1998. Emotions and economic theory. Journal of Economic Literature 36: 47-74.
    Emanuel, D. M. 1984. The information content of sign and size of earnings announcements: New Zealand evidence. Accounting and Finance 24: 25-43.
    Etzioni, A. 1988. Normative-affective factors: Towards a new decision-making model. Journal of Economic Psychology 9: 125-150.
    Fiedler, K. 1991. On the task, the measures and the mood: Research on affect and social cognition. In J. P. Forgas (ed.), Emotion and Social Judgment. New York: Pergamon Press.
    Fiedler, K. 2000. Towards an integrative account of affect and cognition phenomena. In J. P. Forgas (Ed.), Feeling and Thinking: the Role of Affect in Social Cognition. New York: Cambridge University Press.
    Firth, M. 1976. The impact of earnings announcements on the share price behavior of similar type firms. The Economic Journal 86: 196-306.
    Forgas, J. P. 1993. On making sense of odd couples: Mood effects on the perception of mismatched relationships. Personality and Social Psychology Bulletin 19: 59-71.
    Forgas, J. P. 1994. Sad and guilty? Affective influences on the explanation of conflict episodes. Journal of Personality and Social Psychology 66: 56-68.
    Forgas, J. P. 1995. Mood and judgment: The affect infusion model (AIM). Psychological Bulletin 117: 39-66.
    Forgas, J. P. 1998a. On feeling good and getting your way: Mood effects on negotiation strategies and outcomes. Journal of Personality and Social Psychology 74: 565-577.
    Forgas, J. P. 1998b. Asking nicely? Mood effects on responding to more or less polite requests. Personality and Social Psychology Bulletin 24: 173-185.
    Forgas, J. P. and G. H. Bower. 1987. Mood effects on person-perception judgments. Journal of Personality and Social Psychology 53: 53-60.
    Forgas, J. P. and J. M. George. 2001. Affective influences on judgments and behavior in organizations: An information processing perspective. Organizational Behavior and Human Decision Processes 86: 3-34.
    Francis, J., I. Khurana, and R. Pereira. 2003. Investor protection laws, accounting and auditing around the world. Asia-Pacific Journal of Accounting and Economics 10: 1-30.
    Frost, C. and G. Pownall. 1994. A comparison of the stock price response to earnings disclosures in the United States and the United Kingdom. Contemporary Accounting Research 11: 59-83.
    Gardenfors, P. and N. E. 1982. Unreliable probabilities, risk taking, and decision making. Synthese 53: 361-86.
    Description: 博士
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0923535041
    Data Type: thesis
    Appears in Collections:[會計學系] 學位論文

    Files in This Item:

    File SizeFormat

    All items in 政大典藏 are protected by copyright, with all rights reserved.

    社群 sharing

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback