權益價值高估對簽發繼續經營疑慮審計意見可能性之影響

Equity Overvaluation and Going-Concern Opinions

張琮閔(Tsung-Min Chang)

指導教授 ： 薛敏正

國立臺北大學/商學院/會計學系/碩士(2011年)

摘要

本研究以1998至2009年期間國內上市及上櫃公司之中有財務危機者為研究樣本，探討當期權益價值高估的程度與次期會計師簽發繼續經營疑慮審計意見可能性之影響，並運用多變量Probit迴歸對本研究假說進行檢驗。實證結果顯示，當期權益價值高估愈嚴重，企業收到繼續經營疑慮審計意見的可能性愈低。前期權益價值高估的係數為正，但不顯著。雖然經Probit迴歸檢定結果與會計師出具繼續經營疑慮審計意見的可能性呈正向的關連性，但不具統計顯著性，故檢定結果並不支持本研究的假說，亦即當期權益價值高估的程度與次期會計師簽發繼續經營疑慮審計意見的可能性並無顯著的關連性。

關鍵字

權益價值高估、繼續經營疑慮審計意見

並列摘要

The purpose of this study is to examine the influence of equity overvalution on the probability of issuing going-concern opinions. In recent years, there are many accounting fraud cases emerged while most of these cases are accompany with equity overvaluation. I focus on financially distressed companies and first-time going-concern receivers. Research samples are collected from Taiwanese public trading firms over the period 1998 to 2009.
To examine the hypothesis, Probit regression analyses were used in this study. I find that there is a positive correlation between equity overvaluation and the probability of receiving a going-concern opinion. However, I did not find any evidence that the associations between equity overvaluation and the probability of issuing going-concern opinions next period. To summarize, research findings do not support my conjecture.

並列關鍵字

equity overvaluation, going-concern opinions

參考文獻

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Blay, A.D., and M. Geiger. 2001. Market expectations for first-time going-concern

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