經濟環境的變遷、會計制度的更新以及公司的財務狀況,皆可能會影響績效指標的價值攸關性,故本文探討公司經理人更換,對財務報表績效指標價值攸關性之影響。由於國際會計準則(IFRS)採用的關係,使得上市公司過去的財務報表資料不完整,因此本研究以2009年至2012年之中國上市公司為研究對象,探討經理人更換對績效指標價值攸關性之影響。 本研究結果發現,同時更換董事長與總經理的公司,在相對價值攸關性方面,各績效指標皆具有顯著的影響,表示綜合損益表上績效指標的相對價值攸關性,會反應公司同時更換董事長與總經理此項資訊;而在增額價值攸關性方面,唯有銷貨淨額會反應此項資訊。另外,更換董事長的公司,在相對價值攸關性方面,營業利益、繼續營業部門稅前利益、繼續營業部門純益、本期淨利具有顯著影響;而在增額價值攸關性方面,則皆無顯著影響。最後,更換總經理的公司,在相對價值和增額價值攸關性方面,績效指標皆無顯著影響。
The value relevance of performance measures may be affected by economic environment, accounting regulations and company’s financial situation. This paper investigates the effect of management turnover on the value relevance of performance measures. Because of adopting IFRS, previous company’s financial informations are not complete. The sample on this paper is publicly traded company in China and research period is from 2009 to 2012. Our results show that performance measures are significantly affected by the chairman and general manager turnover at the same time in the relative value relevance. That implies the relative value relevance of performance measures will reflect the information of chairman and general manager turnover at the same time. In the incremental value relevance, only SALES will be significantly affected by the chairman and general manager turnover at the same time. Moreover, the value relevance of OPINC, IBTAX, IBXIDO, NI will be significantly affected by the chairman turnover in the relative value relevance. Finally, the value relevance of performance measures not will be affected by the general manager turnover in the relative value relevance and the incremental value relevance.