審計委員會對不同目的衍生性商品交易之影響

Yu-Hui Su; Meng-Ping Yang; Ming-Hui Chang

doi:10.6538/TAR.201912_15(2).0003

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P239 - 286

Social Sciences > Finance & Accounting

DOI： 10.6538/TAR

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審計委員會對不同目的衍生性商品交易之影響

Audit Committee and the Financial Derivative Use

蘇裕惠(Yu-Hui Su) ；楊孟萍(Meng-Ping Yang) ；張明惠(Ming-Hui Chang)

中華會計學刊； 15卷2期 (2019 / 12 / 01) ， P239 - 286

繁體中文;英文 DOI： 10.6538/TAR.201912_15(2).0003

衍生性商品交易；投機目的；避險目的；審計委員會； derivative transactions ； speculative purpose ； hedge purpose ； audit committee

Abstract │ Reference (60) │ Altmetrics

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Based on the mandate and responsibilities of an audit committee, study proposes that audit committee will have an important impact on the company's decision, including the undertaking of derivative transactions and the preference to use the derivatives for hedge purpose. Using a sample of Taiwan listed companies operating in the electronics industry over the period 2013 to 2016, this study documents the following findings. Companies in the sample that conducted financial derivative transactions mostly used the derivative activities for hedging purposes. Companies with established audit committees tend not to conduct financial derivative transactions, regardless of hedging or speculative purpose. Furthermore, companies with established audit committees significantly use derivative transactions more for hedging purposes but lesser for speculative purposes. Therefore, this study suggests that audit committees may provide an important function and contribution in ensuring companies' proper decision-making on derivative transactions.

Reference ( 60 ) 〈TOP〉

Wang, W.-C.,Kao, S.-H.(2005).Discretionary accruals, derivatives and income smoothing.Taiwan Accounting Review,5(2),143-168.
連結：
Wu, C. T.-Z.,Chen, J. J.,Kao, L.-F.(2002).Determinants of corporate hedging by using derivatives: An empirical analysis for firms listed in the Taiwan stock exchange.Taiwan Accounting Review,3(1),49-78.
連結：
何加政,黃柏凱(2011)。公司使用衍生性商品避險、公司價值與資訊不對稱。證券市場發展季刊，23(3)，115-152。
連結：
林丙輝,張森林,葉仕國(2016)。台灣衍生性金融商品定價、避險與套利文獻回顧與展望。台大管理論叢，27(1)，255-304。
連結：
林美花,黃祥宇(2006)。衍生性金融商品數量性資訊揭露與外匯風險暴露之關聯性研究。會計評論，43，63-93。
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