我國集團企業之股權結構、獨立董監事與公司績效對盈餘管理之關聯性研究

A Study on the Relationship among Ownership Structure, Independent Directors/Supervisors, Corporate Performance and Earnings Management of Taiwanese Business Groups

黃秀鳳(Xiu-Feng Huang)

指導教授 ： 黃素慧

朝陽科技大學/管理學院/會計所/碩士(2010年)

摘要

集團企業是我國企業組織發展特有型態，集團企業雖具有因合作創造共同利益的優點，但卻也造成營運上缺乏監督機制的疑慮。本研究以2002~2008年我國上市及上櫃公司為研究對象，探討股權結構及獨立董監事機制對集團企業之盈餘管理動機之影響。其中，除探討企業設置之獨立董事及獨立監察人此公司治理機制對集團企業盈餘管理動機之影響外，本研究亦探討獨立董監事之專業背景對集團企業之盈餘管理動機之影響；同時，也考量公司績效對集團企業管理當局盈餘管理動機之影響。
本研究從公開資訊觀測站、證券暨期貨市場發展基金會之董監人才資料庫與TEJ蒐集獨立董監事之專業背景資料。實證結果發現，(1)相較於非集團企業，集團企業之公司績效與盈餘管理呈顯著負相關；(2)相較非集團企業，具有法律或財務背景之獨立董監事對集團企業之管理當局從事盈餘管理行為有顯著正向影響；(3)不論集團企業或非集團企業，獨立監察人席次比率對集團企業之盈餘管理呈現顯著負相關；(4)不論集團企業或非集團企業，獨立董事席次比率對集團企業盈餘管理呈現顯著正相關。

關鍵字

公司績效 ； 獨立董監事 ； 盈餘管理 ； 集團企業

並列摘要

The situation which business groups often build up the inter-corporate networks in order to facilitate control and internal coordination among its business units causes a serious problem of lacking supervision in its operating. The previous literatures rarely investigate how independent directors and independent supervisors with professional ability will influence on business groups in Taiwan. In this study, we focus on that compare to non-business groups, whether having more independent directors and independent supervisors with professional ability within business groups will reduce the motivation for earnings management during 2002-2008. At the same time, we consider the effect of business performance on earnings management. The results will be helpful for the development of corporate governance.
We collected data for background of independent directors and independent supervisors from Market Observation Post System, Independent directors / Independent supervisors Registry of SFI and Taiwan Economic Journal (TEJ). The empirical results show four key results. First, compare to the non-business groups, business performance in business groups is significant negative with the earnings management. Second, either in business groups or in non-business groups, independent supervisors present significant negative influence on earnings management. Third, either in business groups or in non-business groups, independent directors present significant positive influence on earnings management. Finally, the independent directors/independent supervisors with professional ability within business groups has been found to have significant positive influence on earnings management.

並列關鍵字

Independent directors / Independent supervisors ； Business Performance ； Earnings Management ； Business Groups

參考文獻

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