IFRS與US.GAAP財務表達差異對盈餘資訊品質之影響-以美國ADR樣本為例

The Effect of IFRS and US.GAAP Reconciliation for ADR Firms on Earning Quality

郭泰源(TAI-YUAN GUO)

指導教授 ： 林岳喬

國立中正大學/管理學院/會計與資訊科技學系/碩士(2013年)

摘要

本篇研究主旨在於了解IFRS與US.GAAP之不同會計準則規範下，產生之會計準則差異、及不同財務資訊表達方式，以及是否提供會計準則差異調節表，對於盈餘資訊品質之影響。透過ADR樣本公司，本國與美國會計準則差異，以及2007年後SEC免除IFRS使用者提供差異調節表，使得本研究有一實驗環境，可以測試下述財務資訊表達方式，當同時提供IFRS與US.GAAP財務資訊加上會計準則差異調節表、僅提供US.GAAP財務資訊、僅提供IFRS財務資訊，何種財務資訊表達方式更為攸關、錯誤定價程度較低。
本研究透過2004年至2009年使用IFRS以及使用US.GAAP之樣本，研究結果發現： (1)當同時提供投資人IFRS與US.GAAP之財務資訊時，投資人會同時參考IFRS與US.GAAP之財務資訊，但以IFRS財務資訊為主。(2)當同時提供IFRS與US.GAAP之財務資訊，比僅提供US.GAAP財務資訊，有較高之盈餘資訊品質。(3)IFRS與US.GAAP盈餘資訊之差異金額大小會影響(1)之實驗結果。差異金額小時， IFRS之財務資訊較具攸關性，差異金額大時，US.GAAP之財務資訊較具攸關性。這代表當IFRS與US.GAAP之財務資訊存在重大差異時，會計準則差異調節表具備決策必須之攸關資訊。(4)當僅提供IFRS財務資訊時，盈餘資訊品質最差 (5)比較IFRS使用者2007年前後期之實證結果，顯示投資人偏好同時使用IFRS與US.GAAP兩種財務資訊。

關鍵字

錯誤訂價 ； 會計準則差異 ； US.GAAP ； IFRS ； 盈餘品質

並列摘要

In this study we investigate the role of differences between IFRS and US.GAAP accounting standards which affect earning quality. We employ two-stage rational expectations procedure developed by Mishkin (1983).We use this model to exam the relevance between market reaction and financial information. We also use this model to test accrual mispricing.
The results are as follows. First, we find evidence that firms with US.GAAP reconciliation can mitigate mispricing and vice versa. The result represents that firms with US.GAAP reconciliation can provide more accurate information to investors. According to the result, investors can understand the accounting information's persistence better. Second, our research also tests the impacts of differences between IFRS and US.GAAP earning figure. The result reveals that when IFRS and US.GAAP earning with higher degree of difference, the investors prefer to use US.GAAP information and need US.GAAP reconciliation. Otherwise, for IFRS and US.GAAP earnings with lower degree of difference, the investors prefer to use IFRS information. Third, we use sample after 2007 to compare IFRS user with US.GAAP user in earning relevance and degree of mispricing. We find IFRS users have bad earning relevant and with height degree of mispricing. The results show that investors need US.GAAP reconciliation to compare with other US.GAAP base companies. Forth, we compare IFRS companies before and after 2007. We find out that IFRS users who disclose US.GAAP financial information and reconcile the differences between IFRS and US.GAAP have higher earnings quality.

並列關鍵字

Mispricing ； Reconciliation ； US.GAAP ； IFRS ； Earning quality

參考文獻

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2. American Accounting Association (AAA), 2007b. Response to the SEC Release, Acceptance from Foreign Private Issuers of Financial Statements Prepared in Accordance with International Financial Reporting Standards without Reconciliation to U.S. GAAP. The Financial Reporting Policy Committee of the American Accounting Association.

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