本研究之主要目的在探討企業集團多角化對分子企業盈餘管理之影響,本文認為集團多角化提高集團與分子企業間的資訊不對稱,並加重了集團和分子企業的代理問題,導致分子企業的盈餘管理增加。本研究以台灣2001年到2003年之曆年制上市櫃公司為研究對象,分別以集團的海外子公司數做為集團的國際化多角化程度,和以集團內分子企業的銷貨比例而計算出entropy來表示集團的多角化程度,並以裁決性應計項來衡量公司盈餘管理。實證結果發現,企業所隸屬的集團國際多角化程度愈高時,分子企業的盈餘管理幅度愈高,集團的產業多角化程度未發現對分子企業的盈餘管理幅度有顯著影響力。
The purpose of this study aims to investigate the impacts of group business diversification on earnings management. This paper asserts that group diversification increases information asymmetry between group and affiliated firms, and diversification strategies complicate the financial reports, deteriorating earnings management. A sample of Taiwanese listed companies from 2001 to 2003 was collected to test our hypotheses. We use the foreign subsidiaries of group business to proxy international diversification, entropy to proxy for industry diversification and discretionary accruals to proxy for earnings management. Our findings suggest that the degree of group internationalization will enhance corporate earnings management, while the degree of group industry diversification has insignificant impacts on earning management.