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論文名稱 Title |
銀行業與金控業之企業資訊揭露與盈餘管理的關係 The Relationship between Earnings Management and Information Disclosure in Banks and Financial Holding Corporations |
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系所名稱 Department |
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畢業學年期 Year, semester |
語文別 Language |
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學位類別 Degree |
頁數 Number of pages |
56 |
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研究生 Author |
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指導教授 Advisor |
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召集委員 Convenor |
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口試委員 Advisory Committee |
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口試日期 Date of Exam |
2005-06-12 |
繳交日期 Date of Submission |
2005-07-12 |
關鍵字 Keywords |
none earnings management, financial holding industry, banks, information disclosure |
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統計 Statistics |
本論文已被瀏覽 5689 次,被下載 13 次 The thesis/dissertation has been browsed 5689 times, has been downloaded 13 times. |
中文摘要 |
none |
Abstract |
Abstract This thesis is examining not only the relationship between earnings management and information disclosure but also which information disclosure dimensions influence earnings management in banks and financial holding corporations. I classified the information into five dimensions and they are independent variables in this thesis. Due to different industrial characteristics among financial and other industries, I didn’t use The Healy Model ( 1985), The Jones Model (1991), The DeAngelo Model(1986), The Modified Jones (1995) Model to estimate earnings management. Instead, I choose eight proxies selected in Liu’s paper (1999), and they are Bad Debt, Provisions of Other Loss, Gain on Disposal of Investment, Loss on Disposal of Investment, Gain -Disposal of Fixed Asset, Loss -Disposal of Fixed Asset, Gain on Trading S-T Investment, Loss on Trading S-T Investment as the earnings management proxies for financial industry. Hence, I also chose those proxies as my earnings management proxies. The results show that the total scores of information disclosure are not related to earnings management in banks and financial holding corporations. On the other hands, it is the score of information disclosure dimensions related to earnings management. It demonstrates that different information disclosure dimensions influence the earnings management in different ways for banks and financial holding corporations. Key words: earnings management, information disclosure, banks, financial holding industry |
目次 Table of Contents |
Contents Chapter 1 Introduction 9 1.1 Motivation and Background 9 1.2 Objective 11 Chapter 2 Literature Review 12 2.1 Information Disclosure 12 2.2 Earnings management 13 2.3 The relationship between earnings management and information disclosure 14 2.4 Why do I choose banks and financial holding corporations as sample companies? 14 2.5 The importance of annual reports and website information 15 2.6 What are my proxies of earnings management? 16 Chapter 3 Research Design 18 3.1 The structure of the Thesis 18 3.2 Hypotheses 20 3.3 Sample Analysis and Variables Measurement 24 3.4 Statistical Analysis 29 Chapter 4 Result and Analysis 31 4.1 Data Analysis 31 4.3 Regression Analysis 39 Chapter 5 Conclusion and Research limitation 49 5-1 Summary and conclusion 49 5-2 Research limitation 51 Reference 52 |
參考文獻 References |
Reference Articles in Chinese Chen, W.M., 2003. The effect of the amount of disclosed information on earning management and stock price volatility. Unpublished, Master Thesis of National Taiwan University. Lee, M.P., 2002. The test of the earnings management and information effect in banking industry. Unpublished ,Master Thesis of National Sun Yat-Sen University. Liu, C.C., 1999. The Seasonal Analysis of Interim Income Items in Taiwan Banking Industry. The International Journal of Accounting Studies 31:64-79 Shie, S.A., 2001. The seasonal analysis of earnings management and market reaction in Taiwan banking industry. Unpublished, Master Thesis of National Taiwan University. Tsai, K.Z., 2002. The Relationship Between Corporate Disclosure and Earnings Management. Unpublished , Master Thesis of National Dong Hwa University. Wang, Y.S., 2003. Insider Trading, Earnings Quality, and Market Valuation. Unpublished , Master Thesis of National Taiwan University. Articles in English Boot, Arnoud W. A.; Anjan V Thakor, 2001. The Many Faces of Information Disclosure. Review of Financial Studies 14(Winter):1021-1057 Botosan, Christine A., 1997. Disclosure Level and the Cost of Equity Capital. Accounting Review 72 (July): 323-349 Burgstahler, D. and I. Dichev 1997, Earnings Management to avoid earnings decrease and loss. Journal of Accounting and Economics 24(1): 99-126 Callen, J., J. Livnat, and S. Ryan. 1994. The Intra-year Timing of Capital Expenditures: An Agency Problem? Mimeo, New York University (January). Chaua, Gerald K., Gray, Sidney J. 2002. Ownership structure and corporate voluntary disclosure in Hong Kong and Singapore. The International Journal of Accounting.37:247-265. Chiang, H. T., 2005.. An Empirical Study of Corporate Governance and Corporate Performance The Journal of American Academy of Business, Cambridge 6 (March); 95-101 Conyon, Martin J, Graham V. Sadler, 2001.CEO Compensation, Incentives and information Disclosure. Review of Financial Economics 10(August); 251-277. DeAngelo (1986), “Accounting Numbers as Market Valuation Substitutes:A study of Management Buyouts of Public Stockholders”, The Accounting Review(July):400-420. Dechow, Sloan, and Sweeney (1995), “Detecting Earning Management”, The Accounting Review(April):193-225, Elliott, R. and Peter Jacobson, 1994, Costs and Benefits of Business Information Disclosure, The Accounting Horizons (December):80-96 Fried, D.,M. Schiff, and A. Sondhi. 1989. Impairments and Writeoffs of Long-Lived Assets, Bold Step Series, National Association of Accountants, Montvale: New Jersey. Gerald J. Lobo and Jian Zhou , 2001. Disclosure and Earnings Management. Working paper(August). Givoly, Dan; Joshua Ronen;Allen Schiff, 1978. Does Audit Involvement Affect the Quality of Interim Report Numbers? Journal of Accounting, Auditing & Finance 1,(Summer):361 Haniffa, R.M., T.E. Cooke, 2002. Culture, Corporate Governance and Disclosure in Malaysian Corporations. Abacus 38(October):317-350 Healy, P. 1985. The Effect of Bonus Schemes on Accounting Decisions. Journal of Accounting and Economics 7 (April): 85-107 Healy, P. and J. Wahlen. 1999. A review of the earnings management literature and its implications for standard setting. Accounting Horizons (December): 365-383. Healy, Paul M.,Palepu, Krishna G, 2001, Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of Accounting and Economics (September): 405-440 Hunton , James E. , Libby , Robert and Mazza , 2004 Cheri R., Financial Reporting Transparency and Earnings Management. Working paper (October). Imhoff, E. Jr. and J. Thomas. 1994. Accounting Quality. In Asset Valuation. Stephen A. Butler, ed. The Center for Economic and Management Research, The University of Oklahoma: 25-53. Jones (1991),“Earnings Management during Import Relief Investigation”, Journal of Accounting Research: 193-228. Kang, S., and K. Sivaramarishnan. 1995. Issues in Testing Earnings Management and an Instrumental Variable Approach. Journal of Accounting Research 33 (Autumn):353-367 Kasznik, Ron, 1999. On the Association Between Voluntary Disclosure and Earnings Management. Journal of Accounting Research 37 (Spring ): 57-81 Knutson, P.,1992. Financial Reporting in 1990’s and Beyond. New York NY: Association for Investment Management and Research. Lang, M. and R. Lundholm, 1993. Cross-sectional determinants of analyst ratings of corporate disclosure. Journal of Accounting Research 31:246-271. Liu, C., S. G. Ryan, and J. M. Wahlen. 1997. Differential Valuation Implications of Loan Loss Provisions across Banks and Fiscal Quarters. The Accounting Review 72 (January): 133-14 Mendenhall, R., and W., Nichols. 1988. Bad News and Differential Market Reactions to Announcement of Earlier-Quarter versus Fourth-Quarter Earnings. Journal of Accounting Research 26 (Supplement):63-86. Young, Michael R., 2000, Accounting Irregularities and the Future of Financial Reporting, Harcourt Professional Publishing: San Diego, New York, Chicago,London, 266 Penman, S., 1984. Abnormal Returns to Investment Strategies Based on the Timing of Earnings Reports. Journal of Accounting and Economics 6 (December):165-184 Schipper, K., 1989. Commentary on Earnings Management. Accounting Horizons 3 (December): 91-102 Seyhun, H. Nejat, 1986. Insiders' Profits, Costs of Trading, and Market Efficiency. Journal of Financial Economics 16 (June): 189 Singhvi, Surendra Singh , 1968. Corporate Disclosure Through Annual Reports in the United States of America and India. Journal of Finance 23(June):551-552 Wahlen, James M.1994. The Nature of Information in Commercial Bank Loan Loss Disclosures. Accounting Review 69(July):455-478 Watts and Zimmerman (1978),”Towards a Positive Theory of the Determination of Accounting Standards”, The Accounting Review, pp 52-77. |
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