採用IFRSs對盈餘價值攸關性、預測價值與持續性之影響

The Effect of IFRSs Adoption on the Value Relevance, Predictive Value and Persistence of Earnings

施念恕(Nien-Su Shih) ； 曾子耘(Tzu-Yun Tseng) ； 陳俊麟(Jun-Lin Chen)

《評價學報》 13期 (2019/06) Pp. 59-96

摘要

本文的目的在探討報導盈餘在採用IFRSs前後之價值攸關性、預測價值以及持續性是否有所不同。比較採用IFRSs前後之盈餘的底線數字，結果顯示IFRSs－2013年版之綜合損益總額和股價的關聯性（就解釋能力而言）是較高於ROC GAAP下之本期淨利。而比較IFRSs與ROC GAAP之盈餘預測能力發現，採用IFRSs－2013年版相較其他準則制度下之當期淨利、綜合損益以及其他綜合損益組成項目中的應計項目組成部分與未來現金流量有較大的關聯性。此外，採用IFRSs之淨利相較於ROC GAAP下之淨利具有較高之盈餘持續性，而在綜合損益與其他綜合損益組成項目未發現採用IFRSs改善盈餘持續性之證據。

關鍵字

國際財務報導準則 ； 綜合損益 ； 盈餘品質

並列摘要

The purpose of this study is to investigate whether the value relevance, predictive value and persistence of reported earnings differs between financial reporting regimes pre- and post-adoption of IFRSs. Comparing the bottom line earnings in the pre and post-IFRSs, the result appears that aggregate comprehensive income reported under the 2013 version of IFRSs is more strongly associated (in terms of explanatory power) with stock price than net income reported under ROC GAAP. When we compare earnings predictability under IFRSs versus ROC GAAP, we find that current accrual component of net income, comprehensive income and other comprehensive income components are more closely associated with future cash flows under the 2013 version of IFRSs than under other regimes. Moreover, we find that net income under IFRSs are more persistent than net income under ROC GAAP. However, we do not find evidence that IFRSs improve the persistence of comprehensive income and other comprehensive income components.

並列關鍵字

IFRSs ； Comprehensive Income ； Earnings Quality