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| Title: | 財務報表重編分析及對股價影響之研究--以台灣上市櫃公司為例
The restatement of financial statement and its impact on stock price--Taiwan listed companies |
| Authors: | 顏立婷 |
| Contributors: | 戚務君
顏立婷 |
| Keywords: | 財務報表重編
事件研究法
異常報酬 |
| Date: | 2009 |
| Issue Date: | 2010-12-08 01:53:10 (UTC+8) |
| Abstract: | 本研究針對台灣財務報表重編情形進行分類並對重編事件日調查資本市場的反應。就分類整理的調查而言，本論文彙總台灣1999年至2009年所有上市櫃公司發生財務報表重編的情形，依重編年度、重編原因、公司所屬產業、報表重編類型等方向予以分類。其次，本研究採用事件研究法，以對外公告之重編事件日為基準，計算該事件日之異常報酬及市值的變化，進一步依重編原因、重編類型、財報所屬季別、公司所屬產業等因素對異常報酬進行迴歸分析。
本研究參考美國政府會計責信局(GAO)在2002及2006年報告之研究架構，對台灣上市櫃公司進行研究。實證結果發現重編事件日前後一日的累計異常報酬為負數。進一步的迴歸分析顯示，企業的財務危機情況以及財務報表誤述日至重編公告日的長度均與異常報酬有關。此外，針對不同重編原因檢視重編事件對異常報酬的進一步分析顯示，造成異常報酬下降最多的原因是虛增(漏列)交易，其次是轉投資相關與會計估計及評價，使異常報酬下降最少的原因則為損益期間的歸屬。
關鍵字：財務報表重編、事件研究法、異常報酬。
This research employs both case study and empirical approaches to investigate the causes, demeanors and economic consequences of a sample of firms that were enforced by the Securities and future Bureau to restate their financial statements over the period of year 1999 to year 2009.
This study was referred to the method mentioned in U.S. Government Accounting Accountability Office (GAO) 2002 and 2006 to conduct a research in Taiwan’s capital market. Empirical results indicate that event date the cumulative abnormal return is negative. Further regression analysis showed that enterprise as well as the financial crisis in the financial statements of misrepresentation to the length of the announcement date of restatement are related to abnormal returns. In addition, different reasons restated events on the further analysis showed that abnormal returns, resulting in the largest decline in abnormal returns due to inflated (the omission of) transactions, followed by the transfer and accounting estimates related to the investments and evaluation of abnormal returns decline cause the least loss was attributable to the period.
Keywords: financial restatement; event study; abnormal return |
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| Description: | 碩士
國立政治大學
會計研究所
97353044
98 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0097353044 |
| Data Type: | thesis |
| Appears in Collections: | [會計學系] 學位論文
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