| 摘要Abstract | 台灣許多公司為家族企業，而家族企業獨特的特質可能使其公 司治理環境與非家族企業有所不同。因此，本研究主要以家族企業為 對象，深入瞭解家族特質對於企業盈餘品質之影響；此外，本文更進 一步檢測家族股權與盈餘品質是否具有非線性關係。實證結果發現除 了家族董監事席次比與盈餘品質呈正相關外，其餘家族企業特質之實 驗變數（家族股權、控制權與現金流量權偏離程度、所屬集團之海外 成員個數、創設者擔任總經理或董事長時）皆與盈餘品質呈現顯著負 相關。換言之，實證結果符合利益掠奪效果。然而，本研究並未發現 家族股權與盈餘品質呈非線性關係。In Taiwan, most firms are family-controlled businesses. The unique characteristics of family-controlled firms may cause its corporate governance environment to be different from non-family-controlled firms. Thus, this study mainly targets family-controlled firms, exploring in depth how family-controlled firm characteristics affect corporate earnings quality. This study further examines whether nonlinear relations exist between family ownership equity and earnings quality. Empirical results indicate that the ratio of board members to supervisors in a family-controlled firm is positively correlated to earnings quality. Furthermore, such measure variables as family equity control, the extent to deviation between owner’s control and cash flow control, the number of overseas members, the founder serving as a CEO or president—these variables all have a significant negative correlation to earnings quality. In other words, empirical results are consistent with the entrenchment effect argument, although the study finds no evidence of nonlinear relations between family ownership equity and earnings quality. |