財務報表重編與董事會成員特性關聯性之研究

A Study of Association between Financial Statement Restatement and Board Member Characteristics

歐嘉甄(Chia-Zhen Ou)

指導教授 ： 劉政淮

共同指導教授 ： 紀信義(Hsin-Yi Chi)

國立臺中科技大學/商學院/會計資訊系會計與財稅碩士班/碩士(2012年)

摘要

公司治理可分為內部機制與外部機制兩大部分，董監事會職能的有效運作是內部機制的核心部分，而攸關董事會品質的董事會所屬成員特性，更主宰了董事會運作的績效。而投資人所仰賴的財務資訊，管理當局可能因為主動或被動原因而重編財務報表，此種具有財務預警功能的報表重編制度在美國早已行之多年，並引起學術與實務界的重視，惟台灣的相關研究卻如鳳毛麟角。再者，董事會品質是否影響財務報表重編，甚或董事會成員因為擁有政治關聯時，是否進一步影響所屬公司財務報表重編，這些議題是國內文獻鮮少探討者。
本論文以2006年至2010年間台灣上市櫃公司為研究對象，整合多個董事會成員特性，以綜合指標來評估企業的董事會成員特性，再藉此探討與財務報表重編之關聯，更進一步探討董事會的政治關聯對財務報表重編的影響。本研究參考Defond et al. (2005)之方法，利用七個指標以計算董事會品質的分數，再綜合建構一個衡量董事會品質的虛擬變數。實證結果發現，當一間企業董事會成員持股比例愈高、質押比率愈低或公司規模較大者，則公司較不會發生財務報表重編。因此董事會品質與財務報表重編呈顯著負向關係。另外在高負債比率之情況下，公司亦會提高重編之可能性。除此之外，研究結果也顯示董事會的政治連結關係與財務報表重編則呈現顯著正向關係。

關鍵字

財務報表重編 ； 政治連結 ； 董事會成員特性

並列摘要

Corporate governance can be divided into two parts, internal mechanisms and external mechanisms. The effective operation of the board of directors is a core part of the internal mechanisms. Board member characteristics are not only relevant to the quality of the board, but also dominate the operational performance of board. And investors rely on financial information, management may be active or passive restatement the financial statements. Such financial early warning function of the restatement in the United States has long time for many years, and caused the attention of academic and practical circles. However, Taiwan-related research, such as rare. Furthermore, the quality of board affect restated financial statements, or even board members have political connection, whether further affect restated financial statements. These issues are discussed rarely in domestic literature.
The thesis objects listed companies from 2006 to 2010 in Taiwan, the integration of multiple characteristics of board member. Using a comprehensive index to assess the board member characteristics, and then to discuss the association with restatement. And further study the impact of the board of political connection on the restated financial statements. In the study, we reference Defond et al (2005), using seven indicators to calculate the quality score of board, and then integrated to construct a dummy variable to measure the quality of board. The empirical results show that the members of the board holding higher stocks, pledging ratio lower or the company size lager, the company are less likely to restated financial statements. So the quality of the board and restated financial statements are a significant negative relationship. In addition, high debt ratio will increase the possibility of restatement. The study also showed that the board of the political connection and restatement are a significant positive relationship.

並列關鍵字

Restatement ； Politicial connections ； Board Member Characteristics

參考文獻

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