本文以迴歸模型分析,研究肥貓效果與政策效果對會計穩健性的關聯性。本研究樣本期間自2008年至2012年,採用三種不同報酬率,參考Khan and Watts (2009)會計穩健衡量值C_Score估計。 本文實證結果發現如下:(1)政策從嚴實施前,肥貓與非肥貓公司會計穩健性並無顯著差異。(2)政策從嚴實施後,肥貓與非肥貓公司的會計穩健度有差異,且肥貓公司的會計穩健度低於非肥貓公司。(3)非肥貓公司於政策實施之從嚴後,公司會計的穩健度更高。(4)肥貓公司的會計穩健程度在政策實施從嚴後,會計穩健程度提升。(5)政策從嚴後肥貓與非肥貓會計穩健性差異與政策從嚴前肥貓與非肥貓會計穩健性差異的差異更大,而導致政策無實質效果。
Using regression analysis, this study examines the relevance of policy effects and fat cats effects to accounting conservatism. The study covers from 2008 to 2012, by three different methods of the annual rate of return to estimate accounting conservatism measurement C_Score, suggested by Khan and Watts (2009). The empirical results of this study summarize as follows: (1) before the implementation of the strict policy, there is no significant difference between the accounting conservatism of fat cat and non-fat cat corporations; (2) after the implementation of the strict policy, there is significant difference between the accounting conservatism of fat cat and non-fat cat corporations, the accounting conservatism of fat cat is lower than that of non-fat cat company; (3) the conservatism of non-fat cat company is higher after the disclosure of the strict policy; (4) the conservatism of fat cat company is higher after the disclosure of the strict policy; (5) the difference of accounting conservatism between fat cat and non-fact cat corporations is wider than the difference of that between before and after the strict policy. The implication of this study shows the strict policy does put into effect.