- 學位論文
適用財務會計準則第34號及第36號公報對於盈餘屬性的影響
The Impact of Financial Accounting Standards No.34 and No.36 on Earnings Attributes
摘要
隨著金融市場逐漸開放且迅速發展下，金融商品樣貌呈現多元化。本文以民國94年至96年台灣非金融業之上市公司為研究對象，探討在第34號及第36號公報實施之後，企業使用衍生性金融商品進行避險及金融商品資訊揭露程度對於盈餘屬性的影響。首先，對於各種不同面向的盈餘屬性而言(應計品質項目、盈餘持續性、盈餘可預測性、盈餘平穩化程度及價值攸關性)，實證結果顯示，當避險程度比率愈高，企業的盈餘屬性就愈好，表示避險活動的確有助於提升公司的盈餘品質特性。其次，就金融商品資訊揭露程度而言，實證結果顯示，當金融商品資訊揭露程度愈高，企業的盈餘屬性也就愈好。
並列摘要
With the booming and rapid development of derivative market, the financial products have now blossomed into diversification. After the implementation of Taiwan’s SFAS No.34 and No.36, this study investigates the impact of financial derivatives use to hedge and disclosure of information about financial instruments on earnings attributes. The sample consists of observations selected from listed companies in Taiwan from 2005 to 2007. First, we examine the relation between the derivatives usage and several attributes of earnings: accrual quality, persistence, predictability, smoothness and value relevance. Empirical results indicate that firms hedged with derivatives can enhance earnings predictability and persistence, smooth earnings volatility and improve accrual quality. This suggests that firms hedged with derivatives can improve earnings attributes. Second, we examine the relation between the disclosure of information about financial instruments and attributes of earnings. Empirical results indicate that the higher disclosure of information about financial instruments can improve earnings attributes.
參考文獻
延伸閱讀
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