本研究係從資本管理及盈餘平穩化兩個構面切入,探討金融控股公司旗下之銀行子公司是否會利用裁量性壞帳費用進行盈餘管理,樣本選取以2003-2009年間之上市(櫃)金融控股公司及其旗下銀行子公司作為研究對象。 實證結果顯示: (一)根據資本管理假說,經理人有利用裁量性壞帳費用以提升資本適足率的動機,但研究結果卻未支持資本管理假說,可能因樣本大部分皆符合法規之規定(資本適足率不得低於8%),所以經理人操弄裁量性壞帳費用提升資本適足率的動機就減弱了。 (二)為了降低風險及主管機關過多的干預,經理人有達成盈餘平穩化的動機,其研究結果支持盈餘平穩假說,在盈餘較高的年度提列較多的裁量性壞帳費用,反之則提列較少的裁量性壞帳費用。 (三)因銀行在金控公司制度下具有非常重要的地位,金控公司為了穩健經營會有透過銀行子公司之裁量性壞帳費用達成整體盈餘平穩的動機,其研究結果支持合併個體盈餘平穩假說。
In this research we focus on capital management and income smoothing to study whether the bank owned by financial holding company involves in earnings manage-ment through discretionary bad debt expense. This study examines samples of TWSE (OTC) listed financial holding company and its subsidiary bank from 2003 to 2009. The empirical results have shown:(1)According to capital management hypothesis, managers have motivation to enhance capital adequacy ratio through discretionary bad debt, but our study does not support this hypothesis. Perhaps most of examined samples are in compliance with regulations (capital adequacy ratio no less than 8%), so the motivation is lessened. (2)In order to reduce risk and excessive intervention from authorities, managers have motivation to smooth income. Our study supports income smoothing hypothesis, managers will record more discretionary bad debt when annual earnings are higher; on the other hand, managers record less discretionary bad debt when annual earnings are lower. (3)Bank plays an important role in financial holding company, so financial holding company has motivation to achieve overall objective of income smoothing through its subsidiary bank’s discretionary bad debt for stable operation. Our study supports the consolidated group income smoothing hypothesis.