EARNINGS MANIPULATION AND STOCK RETURNS: THE EMPIRICAL RESULTS OF THE TAIWAN STOCK MARKET

盈餘操作與股票報酬：台灣股票市場實證分析

鄭功華(Kung-Hua Cheng)

指導教授 ： 黃志奇

國立中正大學/管理學院/財務金融學系/碩士(2014年)

摘要

無資料

關鍵字

應計項目 ； 股票報酬 ； 盈餘操作

並列摘要

Earnings manipulation is a form of management fraud that is operated to deceive outside stakeholder. Academic researchers have been endeavored to model the relationship between certain financial characteristics and earnings manipulation. Our study mainly focuses on the prediction of Taiwan stock return. We rely on models in Beneish (1997, 1999) to estimate the probability of manipulation (M-score) and provide an in-depth examination of the predictive power of the M-score to Taiwan stock return.

並列關鍵字

Stock Returns ； Earnings Manipulation ； Accruals

參考文獻

Lai, L.-w., & Shiue, M.-j. (2009, 1). The variation of accrual components, earning quality and stock returns. Journal of National Tapei College of Business(15), pp. 1-22.

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Abarbanell, J., & Bushee, B. (1997). Fundamental analysis, future earnings and stock price. Journal of Accouting Research, 35(1), pp. 1-24.

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Beneish, D. M. (1997). Detecting GAAP Violation: Implications for Assessing Earnings Management among Firms with Extreme Financial Performance. Journal of Accounting and Public Policy, 16(3), pp. 271-309.