執行長過往任職企業特性與盈餘管理間關聯

The Relationships between Firm CEO’s Prior Employing Firm Characteristics and Earnings Management

吳哲豪(Zhe-Hao Wu)

指導教授 ： 林修葳

國立臺灣大學/管理學院/國際企業學研究所/碩士(2021年)

https://doi.org/10.6342/NTU202101002

摘要

本研究區分為兩大議題，其一為探討經理人於新企業上任初期之盈餘管理程度與該經理人於先前任職企業數據間的關係；另一探討議題為檢視企業盈餘管理程度對於企業招募新任經理人之影響。本研究蒐集近30年北美地區經理人更換任職企業之樣本，檢測各領導人特徵與盈餘管理程度的關係。本研究探索經理人之特徵對於企業特徵之影響，探討是否企業文化與高階經理人間會有相互的影響。實證顯示，來自於企業規模相對小的經理人上任初期會有較明顯的盈餘管理；當企業盈餘管理程度較高時，這類型的企業招募經理人時，會較容易招募先前任職企業盈餘管理程度較高且來自於相同產業別的經理人。

關鍵字

應計項盈餘管理 ； 企業特性 ； 高階經理人招募

並列摘要

This paper aims at exploring (1) the relationship between CEO’s past employing firm characteristics and earnings management and (2) whether a firm with higher level of earnings management would tend to recruit the new CEO that has the prior employer engaging in significant earnings management before the CEO replacement. In contrast with the other papers, this paper focuses on the effect of CEO characteristics. We conjecture that not only firm characteristics but also CEO characteristics would affect the extent which a firm manages its earnings. We collect the North American CEO replacement data in the past 30 years. According to statistical results we conclude that a firm with the CEO who previously managed a smaller firm are likely to have a greater extent of earnings management. Moreover, we find that the firm that more heavily manipulates the earnings would tend to hire the CEO whose prior company more aggressively manages the earnings and belongs to the same industry.

並列關鍵字

Accrual earnings management ； Firm Characteristics ； CEO recruitment

參考文獻

Ali, A. Zhang, W., 2014. CEO Tenure and Earnings Management. Journal of Accounting and Economics 59, 60-79.

Burgstahler, D. Dichev, I., 1997. Earnings Management to Avoid Earnings Decreases and Losses. Journal of Accounting and Economics, 24, (1), 99-126.

Choi, J., Kwak, Y. Choe, C., 2014. Earnings Management Surrounding CEO Turnover: Evidence from Korea. Journal of Accounting, Finance and Business Study 50, (1), 25-55.

Davidson, W. N., Jiraporn, P., Kim, Y. S., Nemec, C. 2004. Earnings Management Following Duality‐Creating Successions: Ethnostatistics, Impression Management, and Agency Theory. Academy of Management Journal, 47, (2), 267–275.

Dechow, P., Sloan, R. Sweeney, R.,1995. Detecting Earnings Management, The Accounting Review 70, (2), 193-225.