由於國內外接連爆發企業舞弊案件,台灣於2007年起證交法實施審計委員會的規範,希望藉此使公司治理更加健全並強化董事會監督職能,以提升財務報表品質,進而保障利害關係人。而現金增資為台灣企業主要募集資金方式之一,過去研究發現公司在現金增資時,會傾向從事盈餘管理來美化財務報表。根據代理理論,董事會具有監督管理階層的功能。而審計委員會也扮演著監督財報品質的角色,可減少資訊不對稱,並降低代理問題,從而降低盈餘管理的動機。因為現金增資公司於前一期便開始從事盈餘管理,本研究以2008年至2013年間上市(櫃)公司為研究對象,探討現金增資公司在設立審計委員會後,對盈餘管理之影響。盈餘管理方式分為:裁決性應計項目、實質盈餘管理及分類變動盈餘管理。實證結果顯示,設立審計委員會僅能降低現金增資公司進行其分類變動之盈餘管理。
Due to the frequent domestic and foreign enterprise scandals, Taiwan implemented Securities and Exchange Act about audit committee in 2007. They hoped to make corporate governance more robust and strengthen supervise function of the Board of Directors to improve the quality of financial statements, and thus protect the stakeholders. The seasoned equity offering is one of the main ways to raise funds in Taiwanese companies. In the past research finding SEO firms tended to engage in earnings management to make their financial statements look better. According to agency theory, the Board of Directors can supervise management. The audit committee can also play the role of supervising the quality of financial statements and can reduce information asymmetry and the agency problem. Thereby reducing the motivation of earnings management. Because the companies engaged in earnings management in the previous of SEO, in this study, we used listed companies from 2008 to 2013 in Taiwan as our sample. To examine the impact of earnings management after SEO firms setting audit committee. The kinds of earnings management include discretionary accruals, real earning management and classification shifting. The empirical results indicate that SEO firms set audit committee can only reduce earnings management of classification shifting.