選擇性新會計準則實施時點對策略性會計報導與資訊攸關性的影響

Evidences of Opportunistic Reporting and Value-relevance by the Voluntarily Early Adopters of SFAS 35 in Taiwan

陳慶隆(Ching-Lung Chen)

《台灣管理學刊》 7卷1期 (2007/02) Pp. 43-71

https://doi.org/10.6295/TAMJ.2007.0701.03

摘要

我國關於資產減損會計處理的第35號公報，彈性允許上市（櫃）公司自願性提前於93年適用，此彈性政策賦予公司選擇會計報導的機會。本文首先探討存在資產減損的公司，是否在實際盈餘與預定的目標盈餘水準偏離時，會提前適用第35號公報，以進行某種程度的負向盈餘管理。其次，投資者如果將公司提前適用之會計報導決策納入評價模式中，是否對會計資訊攸關性產生影響？實證結果顯示:存在資產減損的公司，其財務預測的偏離值越大，提前適用第35號公報的可能性越高，且在負向偏離的情境更為明顯。就資訊的價值攸關性而言，93年提前適用第35號公報的資產減損公司，其整體資訊價值攸關性低於未提前適用的公司，亦低於公報實施前的91與92兩會計年度，而此資訊價值攸關性的下降與盈餘變數的增額解釋能力的下降相關。

關鍵字

第35號公報 ； 資產減損 ； 資訊價值攸關性 ； 盈餘管理

並列摘要

In Statement of Financial Accounting Standards No. 35(SFAS 35) on assets impairment in Taiwan, the regulator allowed yet the opportune timing of adoption such new standard that can be used to manage financial reporting. SFAS 35 provides an even more interesting context for empirical examination in both management's motivation and investors' perception for the early adoption of the new standard. The paper explores whether management's choice of voluntarily early adoption timing is motivated by their desires to manage financial reporting. And whether such expediency regulation make investors adjust their value-relevance of earnings vs. book value of equity that reported by the early adopters.
The empirical result indicates that the decision to adopt early is not independence of the earnings forecast errors. It evidences that a higher magnitude of earnings forecast errors is significantly associated with the choice of voluntarily early adoption the new standard and support the hypothesis. It is also observed that the value-relevance of accounting numbers is deteriorated of the early adopters, in comparison with the non-early adopters versus the years before adoption, which can be attributed to the significantly declined incremental explanatory power of current earnings and is reliably reflected in investors’ valuation assessments. Thus, the empirical results provide evidences on the management's use of discretion accorded by the new accounting standard and raise a question that accounting rules be promulgated in such a way may offer opportunities for management's strategic financial reporting.

並列關鍵字

SFAS 35 ； Asset impairment ； Value-relevance ； Earnings management

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