Have library access?
IP:3.215.16.238
  • Journals

現金流量及應計項目之價值攸關性:考量企業生命週期

The Effects of Value Relevance of Cash Flows and Accruals: The Corporate Life Cycle

Abstracts


本文以財報使用者之觀點計算出具個別年與個別公司特性之現金流量及應計項目資訊,依不同企業生命週期,分別檢驗現金流量及應計項目之價值攸關性與公司價值之關係。生命週期之衡量係以現金流量為劃分之依據,消除過去採用單一指標或以分位法得之綜合指標之分類偏誤情形。實證結果顯示,現金流量及應計項目之價值攸關性與公司價值的關係會因不同的企業生命週期而有不同的影響。

Parallel abstracts


Considering the impact of life-cycle attributes of firms, this paper investigates the relationship between the value of firms and the value relevance of cash flows and accruals from the perspective of the users of financial statements measured by individual firm and year. To avoid the dispute of classification in life-cycle studies, we take advantage of cash flows to classify the stages of corporate life cycle. The empirical findings show that the effects of value relevances of operating cash flows and accruals on the firm value are influenced by different corporate life cycle.

References


林惠玲、陳正倉(2014),《基礎統計學:觀念與應用》,台北:雙葉書廊有限公司。
詹家昌、許月瑜(2012),「企業生命週期可否解釋投資與現金流量的敏感度」,《中山管理評論》,第 20 卷第 3 期,909-944。
廖秀梅、陳依婷(2010),「資訊揭露透明度、家族控制因素與盈餘價值攸關性」,《東吳大學會計學報》,第 2 卷第 2 期,1-23。
Abdullah, A. A., and N. M. Saleh (2014), “Impact of Firms’ Life-Cycle on Conservatism: the Malaysian Evidence,” Procedia – Social and Behavioral Sciences, Vol. 145, 18-28.
Akbar, S., S. Z. A. Shah, and A. W. Stark (2011), “The Value Relevance of Cash Flows, Current Accruals, and Non-Current Accruals in the UK,” International Review of Financial Analysis, Vol. 20, No. 5, 311-319.

Read-around