公司治理與符合績效門檻盈餘管理行為之關連性研究

Corporate Governance and Earnings Management to Meet Performance Thresholds

蔡柳卿(Liu-Ching Tsai) ； 楊怡芳(Yi-Fang Yang)

《東吳經濟商學學報》 53期 (2006/06) Pp. 33-72

https://doi.org/10.29735/SJEB.200606.0002

摘要

本研究旨在探討公司整體治理機制的有效性，對於管理者符合績效門檻盈餘管理行為的影響。本文主要係以裁決性應計金額來衡量盈餘管理程度，並以五項董事會結構變數及四項股權結構變數，轉化成治理機制有效性綜合指標，俾衡量公司治理機制的良窳。本研究實證結果發現，當公司操縱前盈餘為負或是低於去年績效時，則公司會有操控盈餘的行為。同時，當公司具有「避免損失」與「維持前期績效」的盈餘管理誘因時，若公司治理機制較佳，則較能減緩符合績效門檻的盈餘管理程度。此證據補充了公司治理可降低代理衝突這類文獻，同時，亦進一步佐證台灣新興市場中，治理機制在財務報導過程具有監督功能，故可知治理結構資訊對於投資人評估公司財務資訊品質具有額外參考價值。

關鍵字

盈餘管理 ； 公司治理 ； 董事會

並列摘要

This study examines whether corporate governance structures are related to firms' earnings management behavior to meet performance thresholds. Discretionary accruals are used to proxy for the magnitude of earnings management, and the corporate governance index is measured by five board characteristics and four ownership structures. This study provides evidence that the effectiveness of corporate governance is negatively related with the magnitude of earnings management. This result suggests that corporate governance systems play an effective role in monitoring the corporate financial accounting process.

並列關鍵字

Earnings management ； Corporate governance ； Board of directors

參考文獻

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