隨著國內外的大型企業接連爆發重大舞弊事件後,資訊透明度的議題逐漸受到高度關注。2003年財團法人證券暨期貨市場發展基金會建置「資訊揭露評鑑系統」進行上市櫃公司資訊揭露透明度之評鑑,目的為提升公司資訊揭露之透明度。過去文獻指出,資訊揭露評鑑系統實施後,管理當局的盈餘管理行為明顯降低。2008年雷曼兄弟風暴事件後,各國紛紛制定更為嚴謹的金融改革法案,其中包含資訊應適當並清楚地揭露。本研究主旨在探討資訊透明度與裁決性應計數間之關聯,尤其是驗證在2008年後,資訊透明度與裁決性應計數間之關聯性是否呈現不同的結果。實證結果顯示,資訊透明度較高的企業,裁決性應計數較低;且在2008年後資訊透明度與裁決性應計數間之相關性,呈現與2008年之前資訊透明度與裁決性應計數間之相關性不同的結果。
Information transparency has attracting numerous attentions from general public since series outbreak of major fraud events involving many large domestic and foreign companies. The "Information Disclosure and Transparence Ranking System" established by the Securities and Futures Market Development Foundation in 2003 is aiming to enhance the transparency of information disclosure for companies listed in national stock exchanges. Previous studies have shown that the probability of management earnings manipulation has significantly reduced after the implementation of information disclosure evaluation system. Countries around the world have developed more rigorous financial reform bills to require information to be much more properly and clearly disclosed, especially after Lehman Brothers bankruptcy case in 2008. This study aims to examine the correlation between information transparency and discretionary accruals and to verify if the results are different before and after 2008. The empirical evidences have shown that disclosure ranking are negative correlative with the discretionary accruals. The evidences also show that the correlation between information transparency and discretionary accruals have different results before and after 2008.