- 學位論文
我國民營銀行與公營銀行盈餘管理比較探討
Earnings Management across Private and Public Banks in Taiwan.
摘要
台灣地區銀行有民營與公營之分。這兩類銀行在股權結構及內部流程等方面都存在有種種差異，因而造成兩者在各項營運決策上的差異。在這之中，本研究主要檢視民營銀行及公營銀行在運用盈餘管理決策上的異同。分析這兩類銀行調控盈餘的動機，主要發現有兩項差異：(1) 股權分散程度不同—股權較為分散的民營銀行，為了影響眾多小股東對公司營運的評價，會有較強烈的動機進行盈餘管理；(2) 管理階層任免標準不同—公營銀行的重要人事案多由政府機關全盤掌控，因此會受到政策規劃的影響，導致公營銀行管理階層之去留與銀行盈餘績效表現的關聯性相對較低。綜合此兩項因素，台灣地區民營銀行運用盈餘管理的情況，應該多於公營銀行。 本研究以台灣地區民國80年至90年之民營銀行與公營銀行為樣本進行實證測試。發現民營銀行之盈餘表現與公營銀行相比，具有以下三項特性：(1) 股東權益報酬變化率之分布，在變化率為0附近呈現較為明顯之不連續狀況，而且在變更組距的情況下仍得到相同結果；(2) 年度股東權益報酬率與前一年度相比，呈現微幅成長之情況較為頻繁；(3) 盈餘維持連續成長之期間較長。根據Burgstahler and Dichev (1997)等文獻之討論，上述盈餘特性可用於驗證樣本公司使用盈餘管理的情形。因此，本研究實證結果顯示，民營銀行運用盈餘管理的情況確實多於公營銀行。
並列摘要
There are private and public banks in the bank industry in Taiwan. The differences between those two kinds of banks, such as stock structure and internal process, result in some significant dissimilarity about bank operational decision-making. This study is preparing to examine whether private and public banks have differences in earnings management. After analyzing the incentives of banks to manage earnings, there is something being found: (1) the equity diffusion of private banks may cause the higher frequency of earnings management in order to affect the evaluation of the bank made by small shareholders; (2) the employment and discharge of managers of public banks are almost entirely controlled by the government, and then earnings is comparatively lesser relative. According to the former, we expect the private banks in Taiwan manage earnings more than the public ones. This study examines samples of private and public banks in Taiwan between Year 80 to 90. We find that the earning performance of private banks, relative to public banks, has three charactistics: (1) the discountinuity of the ΔROE distribution is more significant in the point of ΔROE=0; (2) reporting more small increases of equity returns; (3) reporting longer strings of consecutive earnings increases. In accordance with Burgstahler and Dichev (1997) and others, these charactistics are attributable to earnings management. Consequently, the empirical results show that private banks in Taiwan do perform more earnings management than public ones.