政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/30331
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113318/144297 (79%)
Visitors : 51106436      Online Users : 869
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/30331


    Title: 新財務會計準則第十號公報對企業之影響
    Authors: 廖翊帆
    Contributors: 蘇瓜藤
    廖翊帆
    Keywords: 事件研究法
    新十號公報
    累積平均異常報酬率
    似乎不相關迴歸模式
    Event study
    New SFAS No. 10
    Accumulated average abnormal returns
    Seemingly unrelated regression
    Date: 2008
    Issue Date: 2009-09-11 17:40:47 (UTC+8)
    Abstract: 隨著國際化的發展，企業為降低財務報表重編的相關成本，採用全球統一的財務會計準則已成趨勢。近年來，我國之財務會計準則委員會陸續修訂了若干公報，其中之一為第十號公報。該公報修訂至生效時期，正值全球金融風暴。因此，政府對實施該公報的時機決策反覆，而企業界、會計界及媒體皆對該公報相當關注。
    本研究旨在探討新十號公報對整體市場、各產業及不同特性公司之影響。本研究採用事件研究法，以似乎不相關迴歸模式，分析我國公司在該公報修訂期間及政府實施決策期間之股票累積平均異常報酬率。
    研究結果指出，在新十號公報修訂期間，市場對該公報的反應較為負面；在政府政策反覆期間，市場反應則有正有負。各產業部份，電子業於該公報修訂初期受影響較大，推論原因為電子業固定成本高、毛利較低之緣故；而在該公報政府實施決策階段則受影響較小，推論原因為大部分電子業公司均做好因應措施。公司特性部分，大公司對該公報愈持正面態度；老公司則較排斥該公報；前三年度虧損的公司，受該公報影響較小；而成長機會較多之公司，在該公報制定初期受影響較大，但於政府實施決策階段反而受影響較小。
    To pursue globalization, it has been a trend for firms to gradually adopt the International Accounting Standards; that would help reduce the costs related to cross-border restatement of financial reports. To converge with the International Accounting Standards, the Financial Accounting Standards of Taiwan has been revised in recent years. One of the revised standards is the new SFAS No. 10. That revision took place amid the financial crisis. Before the new standard became effective, the government in Taiwan swung on the timing issue of formal adoption. As a result, firms, practitioners, and the media all paid close attention to the new SFAS No. 10.
    This study aims to examine the revision and adoption decision effects of the new SFAS No. 10 on the stock market, industries, and firms. Firm characteristics that could be factors of the reaction were also examined. This research is an event study using seemingly unrelated regression to analyze the accumulated average abnormal returns of stocks of listed companies in Taiwan.
    The empirical results are as follows. First, the whole market mostly reacted negatively in the standard revision period and in either way during the standard adoption decision period. Next, in the standard revision period, the electronic industry also reacted negatively, as it would be more affected because of its higher fixed cost and lower gross profit. Yet, in the adoption decision period, the electronic industry was less affected likely because most electronics firms were ready for adoption. Thirdly, as to firm characteristics, bigger firms were willing to adopt the new standard, but older firms were not so. In addition, firms that had losses in the previous three years were less affected by the new standard. Finally, firms that had greater growth opportunities were more affected in the early period of standard revision but became less affected in the adoption decision period.
    Reference: 中文文獻：
    工商時報，2008.10.27，10號公報 金融風暴 建商剉咧等。
    工商時報，2008.11.29，薛琦：10號公報應緩一年上路。
    中央社，2008.12.1，10號公報若延後 面板業：影響不大。
    中央社，2008.12.1，10號公報要檢討 半導體廠：影響有限。
    中央社，2008.12.1，10號公報可望延後 手機業者：歡迎。
    中央社，2008.12.1，10號公報擬暫緩PC、NB族群同慶。
    中時電子報，2009.1.9，10、34號公報擬暫緩 金管會：規則隨便改 外資會跑光。
    中廣新聞網，2008.12.2，十號公報若實施 部分電子、製造、傳產業獲利
    將受影響。
    王韶濱，1992，強制性會計方法變動與資本市場反應之研究—財務預測資訊之實
    證研究，國立台灣大學會計學研究所碩士論文。
    王詩緯，2002，Enron失敗對能源產業及AA客戶所帶來的衝擊：傳染效果是否存
    在，國立成功大學會計學系碩士論文。
    民視新聞網，2009.1.20，10號公報上路 銀行盼政府關愛。
    沈中華、李建然，2000，事件研究法，台北:華泰文化事業公司
    呂弘音，2009，不得不的趨勢—國際會計準則壓境而來，證劵暨期貨月刊，
    第二十七卷，第二期：5-12。
    李易政，2005，資產減損公報對股東財富影響之研究，國立中央大學企業管理研
    究所碩士論文。
    何佩璣，1993，財務會計準則與公司反應，大同工學院事業經營研究所碩士論文。
    林裕雄，1995，列入全額交割股上市公司盈餘管理之實證研究，國立中央大學企
    業管理學系碩士論文。
    林有志、廖宜鋒，2005，公司提前使用資產減損公報之盈餘管理動機。2005會計
    理論與實務研討會。
    財團法人中華民國會計研究發展基金會，2007，財務會計準則第十號公報
    「存貨之會計處理準則」，台北：財務會計準則委員會。
    陳雲儀，1987，會計變動對市場股價之影響—長期投資會計變動之實證研究，國
    立政治大學會計研究所碩士論文。
    張文貞，1994，退休金公報之市場效應研究，國立台灣大學會計研究所碩士論文。
    鉅亨網，2008.12.1，10號公報緩行 建商將可喘口氣 明年資產水位維持一
    定水準。
    鉅亨網，2008.12.1，10號公報緩行 但利多來得太晚 NB/PC族群已無清庫
    存壓力。
    鉅亨網，2009.1.22，新10號公報配套 金管會：擬縮短全額交割股、禁止信用交
    易。
    經濟日報，2007.9.21，水泥漲價 台泥環泥樂透（C6版）。
    經濟日報，2007.10.12，馬端出623經濟大餐 經濟成長率6% 所得2萬美元 失
    業率3%以下（A5版）。
    經濟日報，2007.11.30，<<會計新知>> 迎接10號公報（A13版）。
    經濟日報，2007.11.30，財會公報10號「存貨之會計處理準則修訂草案」二讀。
    經濟日報，2008.9.22，新存貨公報對企業之衝擊（A15版）。
    經濟日報，2008.11.6，勤業眾信專欄 新10號公報 六難題待調整。
    經濟日報，2008.12.2，10號公報延後受惠的電子股評析。
    經濟日報，2009.1.7，10號公報 鐵定如期實施。
    廖健寧，2008，財務會計準則公報第10號「存貨之會計處理準則」修正
    簡介，證劵暨期貨月刊，第二十六卷，第三期：36-38。
    蔡進滿，1996，財務會計準則第十八號公報對企業之影響—退休金制度之研究，
    輔仁大學企業管理研究所碩士論文。
    鄧小雅，2005，財務會計準則第三十五號公報對企業之影響，國立政治大學商學
    院經營管理碩士學程碩士論文。
    劉嘉雯，2003，會計師事務所合併對客戶股價影響之研究—代理假說與保
    險假說，會計評論，第36期：1-22。
    聯合晚報，2008.12.1，陳冲上任 台股收盤上衝57點。
    聯合晚報，2008.12.19，DRAM處變不驚 漲停（A3版）。
    聯合晚報，2008.12.19，十號公報染綠金融股（B2版）。
    英文文獻：
    Anderson, M.C., R.D.Banker and S.Ravindran. 2000. Executive Compensation in the Information Technology Industry. Management Science 46 (4): 530-547.
    Beja, A., 1972. On Systematic and Unsystematic Components of Financial Risk, Journal of Financial (March): 37-45.
    Binder, John J., 1985. On the Use of The Multivariate Regression Model in Event Studies. Journal of Accounting Research (23): 370-383.
    Boehmer, E., J. Musumeci and A.B. Poulsen, 1991. Event-Study Methodology under Conditions of Event-induced Variance. Journal of Financial Economics (30): 253-272.
    Brown, S. and J. Warner, 1985. Using Daily Stock Returns: The Case of Events Studies. Journal of Financial Economics (14): 3-31.
    Core, J. E., W. R. Guay , and D. F. Larcker. 2001. Stock option plans for non-executive employess. Journal of Financial Economics (61): 253-287.
    Espahbodia Hassan, Pouran Espahbodia, Zabihollah Rezaeeb, Hassan Tehranianc. 2002.Stock Price Reaction and Value Relevance of Recognition Versus Disclosure: the Case of Stock-based Compensation. Journal of Accounting and Economics (33): 343-373.
    Fama, L. Fisher, M. Jensen and R. Roll, 1969. The Adjustment of Stock Prices to New Information, International Economic Review (10): 1-21.
    _____, E. F., 1970. Efficient Capital Markets: A Review of Theory and Empirical Work. Journal of Finance (May): 383-417.
    Gopalakrishnan, V. and T. F. Sugrue.1992.Economic Consequences of Pension Policy Deliberations(SFAS No.87):An Empirical Assessment of Debt-Covenant Hypothesis. Journal of Business, Finance and Accounting (September): 751-775.
    Healy, P., 1985. The Effect of Bonus Schemes on Accounting Decisions. Journal of Accounting and Economics (7): 85-107.
    Jones D.C. and T. Kato .1993. Employee Stock Ownership Plans and Productivity in Japanese Manufacturing Firms. British Journal of Industrial Relations (31): 331- 346.
    Langer, R., and B. Lev. 1993. The FASB’s Policy of Extended Adoption for New Standards: an Examination of SFAS No.87, Accounting Review (68): 515-533.
    Leftwich, R.. 1981. Evidence of the Impact of Mandatory Changes in Accounting Principle on Corporate Loan Agreements. Journal of Accouting and Economics 3 (March): 3-36.
    Lys, Tomas, 1984. Mandated Accounting Changes and Debt Covenants—the Case of Oil and Gas Accounting. Journal of Accounting and Economics: 39-65.
    Langer, R., and B. Lev. ,1993. The FASB’s Policy of Extended Adoption for New
    Standards: An Examination of FAS No.87 . The Accounting Review 68 (July):
    515-533.
    Mehran, 1995. Executive Compensation Structure, Ownership, and Firm Performance. Journal of Financial Economics 38(2): 163-84.
    Pattel, J. M., 1976. Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Tests. Journal of Accounting Research (14): 246-276.
    Rezaee, Z., R. P. Malone, and R.F.Briner,1993.Capital Market Response to SFAS Nos.8 and 52.Journal of Accounting, Auditing and Finance(September): 313-329.
    Su, Peng and Cheng. 2001. The Stock Market Reactions to Bank Business Tax Reduction Act in Taiwan: A Multiperiod Event Approach. Sun Yat-Sen Management Review: 49-70.
    Smith, C.W. and R. Stulz. 1985. The Determinants of Firm’s Hedging Policy. Journal of Financial and Quantitative Analysis 20 (4): 391-405.
    Watts, R. L., and J. L. Zimmerman, 1978. Towards a Positive Theory of the Determination of Accounting Standards. The Accounting Review 53 (1): 112-133.
    Zellner, 1962 . An Efficient Method of Estimating Seemingly Unrelated Relations and Tests for Aggregation Bias, Journal of the American Statistical Association (57): 348–367.
    Zucca, L., and D. Campbell. 1992. A Closer Look at Discretionary Writedowns of Impaired Assets. Accounting Horizons (6): 30-41.
    Description: 碩士
    國立政治大學
    會計研究所
    96353013
    97
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0963530131
    Data Type: thesis
    Appears in Collections:[Department of Accounting] Theses

    Files in This Item:

    File SizeFormat
    index.html0KbHTML2183View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    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 ©   - Feedback