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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/50822
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/50822


    Title: 聯貸契約財務限制條款與企業的盈餘品質
    Financial covenants of debt contract and corporate earnings quality
    Authors: 鄭蕙嬋
    Contributors: 屠美亞
    Twu, Mei Ya
    鄭蕙嬋
    Keywords: 聯貸
    限制條款
    盈餘品質
    Date: 2010
    Issue Date: 2011-09-29 16:47:45 (UTC+8)
    Abstract: 本研究以台灣地區上市櫃或興櫃的企業聯貸案資料為研究對象,將其初次參與聯貸前後各五年的盈餘品質進行比較,研究聯貸契約中的財務限制條款,對企業盈餘管理行為的影響,以及銀行如何決定財務限制條款的設置及其設置後的效果。
    實證結果發現,貸款前的企業盈餘品質對於財務限制條款的設立無決定性的影響,聯貸特性及公司特性,如財務槓桿、債務成本及現金股息發放率,反而有較高的影響性,財務槓桿較高,債務成本較高或是現金股息發放率越低的企業,越有可能在聯貸契約中設有財務限制條款,因為其握有的自由現金流量較低。
    此外,研究發現貸款後的企業,財務限制條款的設置並不會致使其公司盈餘品質變差,反而有顯著的改善,說明聯貸案銀行角色能確實發揮其監督的功能,並以財務限制條款達到控制風險之效。
    Reference: 江淑玲、林麗容,我國中小企業盈餘管理行為之探索性研究-德爾菲法之應用,東吳經濟商學學報,第五十七期,79-109,2007。
    沈維民,企業之盈餘管理:以「會計方法選用」和「應計項目認列」為例,管理評論,第十六卷,第一期,11-38,1997。
    林嬋娟,您可以相信財務報表嗎?-企業盈餘操縱相關問題研討會,行政院國家科學委員會補助專題研究計畫成果報告,8-9,2002。
    陳惠華,可信度、公司治理對債務資金成本的影響,國立雲林科技大學會計系碩士論文,2008。
    葉美華,銀行聯合貸款業務之經營模式與策略研究-以台灣聯貸市場為例,國立政治大學經營管理碩士學程碩士論文,2006。
    Ball, R., R.M. Bushman, F.P. Vasvari, “The Debt-Contracting Value of Accounting Information and Loan Syndicate Structure”, Journal of Accounting Research,46(2008), 247-287.
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    Djankov S., C. McLiesh, A. Shleifer, “Private Credit in 129 Countries”, Journal of Financial Economics, 84(2007), 299-329.
    Vinciguerra, B., M. O’Reilly-Allen, “An Examination of Factors Influencing Managers’ and Auditors’ Assessments of the Appropriateness of an Accounting Treatment and Earnings Management Intentions”, American Business Review, 22(2004), 78-87
    Watts, R.L., J.L. Zimmerman, “Positive Accounting Theory: A Ten Year Perspective”, The Accounting Review, 65(1990), 131-156.
    Wittenberg-Moerman, R., “The Role of Information Asymmetry and Financial Reporting Quality in Debt Trading: Evidence from The Secondary Loan Market”, Journal of Accounting and Economics, 46(2008), 240-260.
    Description: 碩士
    國立政治大學
    財務管理研究所
    98357018
    99
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0098357018
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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