政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/152482
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文筆數/總筆數 : 113451/144438 (79%)
造訪人次 : 51301873      線上人數 : 706
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧：
  • 您可在西文檢索詞彙前後加上"雙引號"，以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋，建議至進階搜尋限定作者欄位，可獲得較完整資料
    •  進階搜尋
    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/152482


    請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/152482


    題名: 最高階經理人星座與管理階層盈餘預測之關聯性
    The Association between Zodiac of the Top Manager and Management Earnings Forecasts
    作者: 彭容緯
    Peng, Rong-Wei
    貢獻者: 潘健民
    Pan, Chien-Min
    彭容緯
    Peng, Rong-Wei
    關鍵詞: 星座
    高階經理人
    管理階層盈餘預測
    盈餘預測修正
    Zodiac
    Top manager
    Management earnings forecasts
    Earnings forecasts revisions
    日期: 2024
    上傳時間: 2024-08-05 12:21:02 (UTC+8)
    摘要: 先前文獻指出，管理階層盈餘預測相當程度代表企業之揭露品質，且先前文獻亦指出高階經理人之個人特質會影響其思維與決策判斷。本研究以管理階層盈餘預測之「準確度」與「修正次數」作為盈餘預測揭露之指標，另以「十二星座」作為影響經理人個人特質之指標，探討管理階層盈餘預測是否受高階經理人之個人特質影響。
    本研究將管理階層盈餘預測細分為：對營業收入之預測、對經常性利益之預測與對淨利之預測。實證結果顯示，當最高階經理人星座為摩羯座時，對營業收入之預測的準確度較高；為雙魚座時，對經常性利益之預測的準確度較低；為巨蟹座時，對淨利之預測的準確度較高；其餘星座對管理階層盈餘預測之準確度皆無顯著影響。本研究實證結果進一步顯示，最高階經理人星座與管理階層盈餘預測修正次數之間皆無顯著關聯。
    Prior researches suggest that management earnings forecasts significantly represent the quality of corporate disclosures. Prior researches also suggest that personal characteristics of corporate managers may influence their thinking and decision-making. This paper uses the "accuracy" and "frequency of revisions" of management earnings forecasts as the measures of earnings forecast disclosure and uses the "zodiac" as the measure for personal characteristics of managers to explore whether management earnings forecasts are influenced by the personal characteristics of top manager.
    This paper uses management earnings forecasts for sales revenue, ordinary profit, and net income. The empirical results show that when the zodiac sign of the top manager is Capricorn, the accuracy of sales revenue forecasts is higher. On the other hand, managers with a Pisces zodiac have lower forecast accuracy for ordinary profit. Also, a manager who has a Cancer of zodiac will have higher forecast accuracy for net income. The results show no association between other zodiacs signs and the accuracy of management earnings forecasts. At last, this study finds no significant association between the zodiac signs and the frequency of revisions to management earnings forecasts.
    參考文獻: 1111人力銀行，2017，企業人資不告訴你的秘密，網址：
    https://www.1111.com.tw/news/jobns/103663，搜尋日期：2024年5月15日。
    中華徵信所，1993，台灣地區專業經理人名錄，臺北：著者。
    Ajinkya, B. B., and M. J. Gift. 1984. Corporate managers' earnings forecasts and symmetrical adjustments of market expectations. Journal of Accounting Research 22 (2): 425-444.
    Ajinkya, B., S. Bhojraj, and P. Sengupta. 2005. The association between outside directors, institutional investors and the properties of management earnings forecasts. Journal of Accounting Research 43 (3): 343-376.
    Baginski, S. P., J. M. Hassell, and M. D. Kimbrough. 2002. The effect of legal environment on voluntary disclosure: Evidence from management earnings forecasts issued in U.S. and Canadian markets. The Accounting Review 77 (1): 25-50.
    Baginski, S. P., J. M. Hassell, and M. D. Kimbrough. 2004. Why do managers explain their earnings forecasts?. Journal of Accounting Research 42 (1): 1-29.
    Baik, B., D. B. Farber, and S. S. Lee. 2011. CEO ability and management earnings forecasts. Contemporary Accounting Research 28 (5): 1645-1668.
    Bamber, L. S., and Y. S. Cheon. 1998. Discretionary management earnings forecast disclosures: Antecedents and outcomes associated with forecast venue and forecast specificity. Journal of Accounting Research 36 (2): 167-190.
    Bamber, L. S., J. X. Jiang, and I. Y. Wang. 2010. What's my style? The influence of top managers on voluntary corporate financial disclosure. The Accounting Review 85 (4): 1131-1162.
    Becker, J., J. Medjedovic, and C. Merkle. 2019. The effect of CEO extraversion on analyst forecasts: Stereotypes and similarity bias. Financial Review 54 (1): 133-164.
    Bertrand, M., and A. Schoar. 2003. Managing with style: The effect of managers on firm policies. The Quarterly Journal of Economics 118 (4): 1169-1208.
    Brous, P. A., and O. Kini. 1994. The valuation effects of equity issues and the level of institutional ownership: Evidence from analysts' earnings forecasts. Financial Management 23 (1): 33-46.

    Calori, R., G. Johnson, and P. Sarnin. 1994. CEOs' cognitive maps and the scope of the organization. Strategic Management Journal 15 (6): 437-457.
    Capalbo, F., A. Frino, M. Y. Lim, V. Mollica, and R. Palumbo. 2018. The impact of CEO narcissism on earnings management. ABACUS 54 (2): 210-226.
    Carpenter, M. A., M. A. Geletkanycz, and W. G. Sanders. 2004. Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management 30 (6): 749-778.
    Cheng, E. C. M., and S. M. Courtenay. 2006. Board composition, regulatory regime and voluntary disclosure. The International Journal of Accounting 41 (3): 262-289.
    Cheng, S. 2008. Board size and the variability of corporate performance. Journal of Financial Economics 87 (1): 157-176.
    Cheng, Q., and T. D. Warfield. 2005. Equity incentives and earnings management. The Accounting Review 80 (2): 441-476.
    Cho, M., Y. D. Hah, and O. Kim. 2011. Optimistic bias in management forecasts by Japanese firms to avoid forecasting losses. The International Journal of Accounting 46 (1): 79-101.
    Clarke, D., T. Gabriels, and J. Barnes. 1996. Astrological signs as determinants of extroversion and emotionality: An empirical study. The Journal of Psychology 130 (2): 131-140.
    Coller, M., and T. L. Yohn. 1997. Management forecasts and information asymmetry: An examination of bid-ask spreads. Journal of Accounting Research 35 (2): 181-191.
    Collins, D. W., and S. P. Kothari. 1989. An analysis of intertemporal and cross-sectional determinants of earnings response coefficients. Journal of Accounting and Economics 11 (2-3): 143-181.
    Diamond, D. W., and R. E. Verrecchia. 1991. Disclosure, liquidity, and the cost of capital. The Journal of Finance 46 (4): 1325-1359.
    Dorantes, C. A., C. Li, G. F. Peters, and V. J. Richardson. 2013. The effect of enterprise systems implementation on the firm information environment. Contemporary Accounting Research 30 (4): 1427-1461.
    Duchin, R., J. G. Matsusaka, and O. Ozbas. 2010. When are outside directors effective?. Journal of Financial Economics 96 (2): 195-214.
    Eng, L. L., and Y. T. Mak. 2003. Corporate governance and voluntary disclosure. Journal of Accounting and Public Policy 22 (4): 325-345.
    Feng, M., C. Li, and S. McVay. 2009. Internal control and management guidance. Journal of Accounting and Economics 48 (2-3): 190-209.
    Francis, J. R., I. K. Khurana, and R. Pereira. 2005. Disclosure incentives and effects on cost of capital around the world. The Accounting Review 80 (4): 1125-1162.
    Ge, W., D. Matsumoto, and J. L. Zhang. 2011. Do CFOs have style? An empirical investigation of the effect of individual CFOs on accounting practices. Contemporary Accounting Research 28 (4): 1141-1179.
    Ge, W., and S. McVay. 2005. The disclosure of material weaknesses in internal control after the Sarbanes‐Oxley Act. Accounting Horizons 19 (3): 137-158.
    Goodman, T. H., M. Neamtiu, N. Shroff, and H. D. White. 2014. Management forecast quality and capital investment decisions. The Accounting Review 89 (1): 331-365.
    Graham, J. R., C. R. Harvey, and M. Puri. 2013. Managerial attitudes and corporate actions. Journal of Financial Economics 109 (1): 103-121.
    Hambrick, D. C. 2007. Upper echelons theory: An update. Academy of Management Review 32(2): 334-343.
    Hambrick, D. C., and P. A. Mason. 1984. Upper echelons: The organization as a reflection of its top managers. Academy of Management Review 9 (2): 193-206.
    Herrmann, D., T. Inoue, and W. B. Thomas. 2003. The sale of assets to manage earnings in Japan. Journal of Accounting Research 41 (1): 89-108.
    Higgins, H. N. 2013. Do stock-for-stock merger acquirers manage earnings? Evidence from Japan. Journal of Accounting and Public Policy 32 (1): 44-70.
    Hitt, M. A., and B. B. Tyler. 1991. Strategic decision models: Integrating different perspectives. Strategic Management Journal 12 (5): 327-351.
    Hossain, M., M. H. B. Perera, and A. R. Rahman. 1995. Voluntary disclosure in the annual reports of New Zealand companies. Journal of International Financial Management and Accounting 6 (1): 69-87.
    Hribar, P. and H. Yang. 2016. CEO overconfidence and management forecasting. Contemporary Accounting Research 33 (1): 204-227.
    Hume, N., and G. Goldstein. 1977. Is there an association between astrological data and personality?. Journal of Clinical Psychology 33 (3): 711-713.

    Hutton, A. P., G. S. Miller, and D. J. Skinner. 2003. The role of supplementary statements with management earnings forecasts. Journal of Accounting Research 41 (5): 867-890.
    Hutton, A. P., and P. C. Stocken. 2021. Prior forecasting accuracy and investor reaction to management earnings forecasts. Journal of Financial Reporting 6 (1): 87-107.
    Jensen, M. C. 1986. Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review 76 (2): 323-329.
    Karamanou, I., and N. Vafeas. 2005. The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Journal of Accounting Research 43 (3): 453-486.
    Kato, K., D. J. Skinner, and M. Kunimura. 2009. Management forecasts in Japan: An empirical study of forecasts that are effectively mandated. The Accounting Review 84 (5): 1575-1606.
    King, R., G. Pownall, and G. Waymire. 1990. Expectations adjustment via timely management forecasts: Review, synthesis, and suggestions for future research. Journal of Accounting Literature 9 (1): 113-144.
    Kwak, B., B. T. Ro, and I. Suk. 2012. The composition of top management with general counsel and voluntary information disclosure. Journal of Accounting and Economics 54 (1): 19-41.
    Lev, B., S. Li, and T. Sougiannis. 2010. The usefulness of accounting estimates for predicting cash flows and earnings. Review of Accounting Studies 15: 779-807.
    Mahendra, A., S. P. Mohanty, and S. Sudalaimuthu. 2021. Financial astrology and behavioral bias: Evidence from India. Asia-Pacific Financial Markets 28 (1): 3-17.
    Mayo, J. 1964. Teach Yourself Astrology. London, UK: English University Press.
    Mitchell, V. W. 1995. Using astrology in market segmentation. Management Decision 33 (1): 48-57.
    Nagar, V., D. Nanda, and P. Wysocki. 2003. Discretionary disclosure and stock-based incentives. Journal of Accounting and Economics 34 (1-3): 283-309.
    Nagata, K., and P. Nguyen. 2017. Ownership structure and disclosure quality: Evidence from management forecasts revisions in Japan. Journal of Accounting and Public Policy 36 (6): 451-467.

    Narayana, M. 2021. Moon Signs: Unlock Your Inner Luminary Power. London, UK: Hardie Grant.
    Ota, L. 2010. The Value Relevance of Management Forecasts and Their Impact on Analysts’ Forecasts: Empirical Evidence from Japan. ABACUS 46 (1): 28-59.
    Penman, S. H. 1980. An empirical investigation of the voluntary disclosure of corporate earnings forecasts. Journal of Accounting Research 18 (1): 132-160.
    Priem, R. L., D. W. Lyon, and G. G. Dess. 1999. Inherent limitations of demographic proxies in top management team heterogeneity research. Journal of Management 25 (6): 935-953.
    Rogers, J. L., and P. C. Stocken. 2005. Credibility of management forecasts. The Accounting Review 80 (4): 1233-1260.
    Saklofske, D. H., I. W. Kelly, and D. W. McKerracher. 1982. An empirical study of personality and astrological factors. The Journal of Psychology 110 (2): 275-280.
    Smith, Jr. C. W., and R. L. Watts. 1992. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics 32 (3): 263-292.
    Trueman, B. 1986. Why do managers voluntarily release earnings forecasts?. Journal of Accounting and Economics 8 (1): 53-71.
    Tsang, A., F. Xie, and X. Xin. 2019. Foreign institutional investors and corporate voluntary disclosure around the world. The Accounting Review 94 (5): 319-348.
    Wallace, R. S. O., and K. Naser. 1995. Firm-specific determinants of the comprehensiveness of mandatory disclosure in the corporate annual reports of firms listed on the Stock Exchange of Hong Kong. Journal of Accounting and Public Policy 14 (4): 311-368.
    Wang, M., and K. Hussainey. 2013. Voluntary forward-looking statements driven by corporate governance and their value relevance. Journal of Accounting and Public Policy 32 (3): 26-49.
    Wang, G., R. M. Holmes Jr, I. S. Oh, and W. Zhu. 2016. Do CEOs matter to firm strategic actions and firm performance? A meta‐analytic investigation based on upper echelons theory. Personnel Psychology 69 (4): 775-862.
    Waymire, G. 1986. Additional evidence on the accuracy of analyst forecasts before and after voluntary management earnings forecasts. The Accounting Review 61 (1): 129-142.
    描述: 碩士
    國立政治大學
    會計學系
    111353012
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0111353012
    資料類型: thesis
    顯示於類別:[會計學系] 學位論文

    文件中的檔案:

    沒有與此文件相關的檔案.



    在政大典藏中所有的資料項目都受到原著作權保護.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回饋