一直以來家族企業瑕瑜互見的公司治理皆有很多學者探討,而在近年來有一套新的理論以心理層面來解釋家族企業內部成員間維繫的核心價值—社會情感財富理論(Socioemotional Wealth,簡稱SEW)並以企業永續經營為SEW的重要理念。本研究以SEW為基礎欲探討台灣家族企業與盈餘管理的關聯性。研究結果顯示,台灣的家族企業會同時進行實質盈餘管理、應計盈餘管理,而且操作的程度會比非家族企業大。而在更進一步的分析中可得知家族企業偏好採用應計盈餘管理,而實質盈餘管理為輔助之用,甚至是有採用應計盈餘管理,會偏向減少實質盈餘管理的情況。
The studies of the strengths and weaknesses of family firms in their corporate governance have been widely examined in the finance and accounting literatures. Recently, socioemotional wealth theory explains psychological connection among the family members, so that they have strong intention to bequeath the family business to future generation. This study examines the relationships between family firms and earnings management based on socioemotional wealth theory. The empirical results show that family firms compared with those of non-family in Taiwan engage both of real earnings management and accrual-based earnings management. However, if one of the earnings management is controlled, the result shows the family firms prefer accrual-based earnings management to real earnings management.