從不同薪酬來源之動機衝突探討董監事薪酬與盈餘品質之關係

過去文獻大多探討董監事變動薪酬（或總薪酬）與盈餘品質之關聯，而忽略不同來源之薪酬，其誘因不同，可能對盈餘品質之影響亦不同，因此，本文分別探討固定薪酬、變動薪酬及總薪酬如何影響盈餘品質。結果顯示，固定薪酬與異常應計數絕對值呈顯著負相關，而變動薪酬及總薪酬則與異常應計數絕對值呈顯著正相關，表示董監事取領取愈多固定薪酬，則愈限制公司操縱盈餘空間，使盈餘品質有所提昇，然而董監事領取越多變動薪酬或總薪酬，愈寬鬆公司操縱盈餘空間，使盈餘品質愈差。此結果證實薪酬誘因差異，將造成盈餘品質之不同。本文可補足過去相關研究之缺口，並可供作董監事薪酬制定決策之參考依據。

關鍵字

董監事薪酬；異常應計數；盈餘品質

並列摘要

Past studies have observed the relationship between directors' variable compensation (or total compensation) and earnings quality. While few have mentioned that the incentive conflicts behind different forms of compensation may have a varying degree of influence on earnings quality. After analyzing how the fixed, variable and total compensation affects the earnings quality in this research, we find the significant negative correlation between fixed compensation and the absolute value of abnormal accruals. While the variable compensation (or total pay) is significantly positively correlated with the absolute value of abnormal accruals. The result implies the more variable compensation encourage directors the greater magnitude of earnings management, resulting in lower quality of earnings. Otherwise, higher fixed compensation shrink the magnitude of earnings management, causing the higher quality of earnings. Our research highlights a concrete link between compensation and earnings quality, which provides a fresh view and useful insight for choosing the proper strategies about directors' compensation.

並列關鍵字

Director Compensation ； Abnormal Accruals ； Earnings Quality

參考文獻

Hope, O.K. & Wang, J., “Management Deception, Big-Bath Accounting, and Information Asymmetry: Evidence from Linguistic Analysis", Ассоunting. Organizations & Society, https://doi.org/10.1016/j.aos.2018.02.004.

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