執行長與財務長薪酬差距對財務報導品質之影響

The Effect of Pay Gap between CEOs and CFOs on Financial Reporting Quality

林家安(Jia-An Lin)

指導教授 ： 廖芝嫻

國立臺灣大學/管理學院/會計學研究所/碩士(2019年)

https://doi.org/10.6342/NTU201900861

摘要

本研究主要探討執行長(CEO)及財務長(CFO)之薪酬差距對財務報導品質之影響。本研究之薪酬資料來自Execucomp資料庫，財務變數資料來自Compustat資料庫樣本所涵蓋之所有期間為2006年至2017年之美國上市櫃公司。實證結果發現，薪酬差距對應計數管理與實質盈餘管理的影響並不一致，短期薪酬差距愈大會增加實質盈餘管理，而長期薪酬差距愈大則會增加應計數管理。本研究期望對公司薪酬政策的制訂有參考價值，薪酬委員會除考量薪酬水準與薪酬結構之外，對於CEO與CFO的薪酬差距也應一併考量。

關鍵字

薪酬差距 ； 財務報導品質 ； 裁決性應計數 ； 實質盈餘管理

並列摘要

This paper examines the effect of pay gap between CEOs and CFOs on financial reporting quality. In this study, all samples are selected from the Compustat and Execucomp database during the period of years 2006–2017. The empirical results show that pay gap has differential impacts on discretionary accruals and real activity manipulation. Larger short-term pay gap increases real activity manipulation, whereas larger long-term pay gap increases discretionary accrual management. The findings provide implications to corporate decision-making regarding the compensation policy. In addition to the pay level and pay structure, the compensation committee should also consider the pay gap between CEOs and CFOs.

並列關鍵字

Pay gap ； Financial reporting quality ； Discretionary accruals ； Real activities manipulation

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