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| Title: | 獨立董事財務背景與盈餘管理之關聯
The association between financial background of independent directors and earnings management |
| Authors: | 吳冠萱
Wu, Kuan-Hsuan |
| Contributors: | 潘健民
Pan, Chien- Min
吳冠萱
Wu, Kuan-Hsuan |
| Keywords: | 公司治理
應計項目盈餘管理
實質盈餘管理
獨立董事
財務背景
Corporate governance
Accrual-based earnings management
Real activities manipulation
Independent director
Financial background |
| Date: | 2023 |
| Issue Date: | 2023-07-06 16:49:28 (UTC+8) |
| Abstract: | 獨立董事係維護公司治理之重要機制，而財務報導品質為衡量企業公司治理好壞之關鍵因素。然而公司經理人往往出於自利動機、政策誘因等不同原因而有從事盈餘管理之行為。盈餘管理不同於常見之財務報表舞弊，多運用會計準則所賦予的彈性或企業決策之自主裁量權進行，對企業揭露品質和長期經營有重大影響，因此獨立董事往往被期許能對企業盈餘管理行為產生有力的監督效果。由於日本並未強制規範所有公司皆須設置獨立董事，因此本文得以探討獨立董事的設置與企業盈餘管理行為的關聯性。本研究以日本東京證券交易所上市公司為研究樣本，探討聘用獨立董事與否和聘用之獨立董事比率，對於盈餘管理之影響。實證結果顯示，僅設立獨立董事一職無法對盈餘操縱行為產生顯著抑制作用，惟當獨立董事比率愈高時，企業確實會減少應計項目和實質盈餘管理行為。同時，本研究亦探討獨立董事之財務專業背景是否能對盈餘管理產生較佳之監督效果，結果顯示董事會中具財務背景的獨立董事比例愈高，企業反而會傾向於增加應計項目盈餘管理行為，此一結果與先前研究假說相悖，推測原因為具財務背景之獨立董事往往與企業有密切往來，因此未能發揮獨立董事應有之監督效果。再者，本研究也以企業是否聘僱具財務背景獨立董事此一虛擬變數替換主要變數，以論證具財務背景獨立董事是否同樣需佔董事會一定比例才會導致盈餘管理程度的改變。惟研究顯示相比於獨立董事皆不具財務背景之企業，聘有具財務背景獨立董事之企業其應計項目盈餘管理程度會增加。由此可推知財務背景獨立董事不僅無法發揮其監督效果，且當其存在於董事會中，僅有聘任的事實就能對盈餘管理程度造成影響。
Managers have incentives to manage earnings and independent director plays an important role in corporate governance to safeguard financial reporting quality. Earnings management stems from managers exploit the flexibility and discretion given by accounting policies to achieve an earnings target. On the other hand, independent directors are expected to monitor the managers and safeguard the financial reporting quality of the firm. Taking the advantage that independent directors are not mandated in Japan, we examine the association between independent directors and earnings management behaviors using the data from firms listed on the Tokyo Stock Exchange. Consistent with the prior studies, the empirical results show that the existence of independent directors in the board of director have no association with earnings management, but as the ratio of independent director in the board gets higher, the level of earnings management gets lower.
To our surprise, the analyses show that independent directors with financial background increase the level of accrual-based earnings management. Further analyses also show that the existence of independent director in the board can increase the level of accrual-based earnings management. |
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| Description: | 碩士
國立政治大學
會計學系
110353017 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0110353017 |
| Data Type: | thesis |
| Appears in Collections: | [會計學系] 學位論文
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