- 學位論文
審計委員會開會次數與盈餘反應係數之關聯性研究
The Association between Audit Committee Meeting Frequency and Earnings Response Coefficient
摘要
我國證券交易法自96年1月起要求公開發行公司必須擇一設置審計委員會或監察人，正式將審計委員會制度導入國內。根據我國公開發行公司審計委員會行使職權辦法第7條規定，審計委員會應至少每季開會一次。另依照公開發行公司年報應行記載事項準則第10條規定，設置審計委員會之公開發行公司必需揭露審計委員會運作情形，包括開會次數、獨立董事出席率以及其他應記載事項等資訊。 過去文獻證實設置審計委員會可強化公司內部控制改善公司治理效能，並確保財務報導品質。而學者針對審計委員會開會次數進行研究，結果發現開會次數增加有助於強化公司治理並提高公司財務報導品質與資訊揭露內容。此外，亦有實證研究發現設置審計委員會與盈餘報酬間是呈正相關。 本研究欲自投資人角度觀察96年至100年間設置審計委員會之上市、櫃公司其審計委員會運作情形，探討審計委員會開會次數與盈餘反應係數之間的關聯性，藉以檢視公司股價是否受到審計委員開會次數多寡之影響。實證結果發現，審計委員會開會次數與盈餘反應係數之間並未呈現顯著正相關。就投資人觀點而言，公司股價之表現並不會受到審計委員會開會次數多寡之影響。
並列摘要
The audit committee system has been introduced into Taiwan since January 2007. The Taiwan Securities and Exchange Act has regulated that all public company should set up an audit committee or a supervisor. According to article 7 of the Regulations Governing the Exercise of Powers by Audit Committees of Public Companies, the audit committee shall meet at least quarterly. The operations of the audit committee, such as meeting frequencies, the rate of attendance of each independent director, or any other matters that require reporting must be published in annual report in order to follow the Regulations Governing Information to be Published in Annual Reports of Public Companies Article 10 as well. Previous literatures informed that audit committee can strengthen the company's internal control, company’s performance, and ensure the quality of financial reports. The Audit Committee meeting frequencies were studied by scholars as well, and the studies showed higher meeting frequencies will improve the quality of the financial reports and the accuracy of disclosure content. In addition, some studies found a positive correlation between the establishment of audit committee and earnings-return. The purpose of this study is to examine the association between audit committee meeting frequency and earnings response coefficient on investor perception. Listed publicly companies in Taiwan with audit committee from 2007 to 2011 are used as a sample. Empirical results don’t show a significant positive correlation between earnings response coefficient and audit committee meeting frequency. The investor’s perspective on the company’s share price is not affected by the audit committee meeting frequency.