English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113656/144643 (79%)
Visitors : 51733555      Online Users : 359
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
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/76411
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/76411


    Title: 審計委員會會計專家、盈餘品質與聯貸利差
    Audit committee with accounting experts, earnings quality and syndicated loan spread
    Authors: 王譯萱
    Contributors: 詹凌菁
    王譯萱
    Keywords: 審計委員會
    盈餘品質
    聯合貸款
    Audit Committee
    Earnings Quality
    Syndication Loan
    Date: 2015
    Issue Date: 2015-07-13 11:05:24 (UTC+8)
    Abstract: 董事會是公司治理之核心,設置審計委員會為其職能,確保盈餘品質與財務報導。因此,為了解審計委員會的專業性對盈餘品質與聯合貸款之影響,本研究選取2000年至2012年美國上市非金融業公司作為研究樣本,以聯貸利差作為衡量聯合貸款契約特性之變數。首先探討盈餘品質對貸款利差的影響,再進一步考量審計委員會的會計專業對於盈餘品質與聯合貸款有何影響。研究結果發現,企業的盈餘品質與貸款利差呈負向關係,顯示當公司的盈餘品質好的時候好,能取得較低的聯貸利差,且當審計委員會成員具有會計專業時,其現象會更加明顯。
    Board of directors is the core of corporate governance, and one of the main functions of board of directors is to establish audit committee to ensure the company’s earnings quality and financial reporting. Therefore, the purpose of this study is to examine the effect of audit committee with accounting experts on the loan spread in the syndication loan market.
    This study is based on a sample of US companies during 2000-2012. The results show that earnings quality is negatively associated with loan spread, and this is more pronounced when the proportion of accounting experts on the audit committee is higher.
    Keyword: Audit
    Reference: 劉威廷,2006,獨立董事及監察人之設置與債務資金成本關聯性之研究,國立政治大學會計研究所碩士論文
    朱倩瑩,2007,應計品質和獨立董監事專業知識背景的關係,國立台灣大學會計研究所碩士論文
    An, S. T., and Jin, H. S. 2004. Interlocking of newspaper companies with financial institutions and leading advertisers. Journalism & Mass Communication Quarterly, 81: 578-600.
    Anderson, R. C., S. A. Mansi, and D. M. Reeb. 2003. Founding family ownership and the agency cost of debt. Journal of Financial Economics 68: 263-285.
    Anderson, K. L., and Yohn, T. L. 2002. The Effect of 10‐K Restatements on Firm Value, Information Asymmetries, and Investors’ Reliance on Earnings. Working paper. Washington, D.C.: Georgetown University.
    Bae, K. H., & Goyal, V. K. 2009. Creditor rights, enforcement and bank loans. Journal of Finance 64: 823–860.
    Beasley, M. S. 1996. An empirical analysis between the board of director composition and financial statement fraud. The Accounting Reviews 71: 443-366.
    Bertsch, K., 2011, The rise of shareholder voice and the increased role of boards, 25 for 25: Observations on the Past, Present, and Future of Corporate Governance – In Celebration of ISS’ 25th Anniversary.
    Blue Ribbon Committee. 1999. Report on Improving the Effectiveness of Corporate Audit Committee. Business Lawyer 54: 1067-1096.
    Bolton, P., D. S. Scharfstein. 1996. Optimal debt structure and the number of creditors. Journal of Political Economy 104: 1–25.
    Booth, J. M., M. Cornett, and H. Tehranian. 2002. Boards of Directors, Ownership, and Regulation. Journal of Banking and Finance 26: 1973-1996.
    Booth, J., and D. Deli. 1999. On executives of financial institutions as outside directors. Journal of Corporate Finance 5(3): 227-250
    Cadbury, A. 1999. What are the trends in corporate governance? How will they impact your company? Long Range Planning Journal 32: 12-19.
    Callahan, W. T., J. A. Miller, and C. Schulman. 2003. An analysis of the effect of management participation in director selection on the long-term performance of the firm. Journal of Corporate Finance 9: 169-181.
    Carcello, J., D. R. Hermanson, and Z. Ye. 2011b. Corporate governance research in accounting and auditing: Insights, practice implications, and future research directions. Auditing: A Journal of Practice & Theory 30 (3): 1–31.
    Carpenter, M. A., Geletkanycz, M. A., & Sanders, W. G. 2004. Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30: 749-778.
    Certo, S. T. 2003. Influencing initial public offering investors with prestige: Signaling with board structures. Academy of Management Review 28: 432-446.
    Chava, S., & Roberts, M. R. 2008. How does financing impact investment? The role of debt covenants. Journal of Finance 63: 2085–2121.
    Chtourou, S., Bédard, J., Courteau, L., 2001. Corporate governance and earnings management. Working paper, Université Laval, Canada.
    Chung, H., and S. Kallapur. 2003. Client Importance, Nonaudit Services, and Abnorml Accruals. The Accounting Review 78(4): 931-955
    Cohen, J., Hoitash, U., Krishnamoorthy, G., Wright, A.. 2014. The effect of audit committee industry expertise on monitoring the financial reporting process, The Accounting Review 89 (1): 243-273.
    Daily, C. M., & Dalton, D. R. 1994. Bankruptcy and corporate governance: The impact of board composition and structure. Academy of Management Journal, 37: 1603-1617.
    Dalziel, T., Gentry, R. J., & Bowerman, M. 2011. An integrated agency-resource dependence view of the influence of directors’ human and relational capital on firms’ R&D spending. Journal of Management Studies, 48: 1217-1242.
    DeAngelo, Linda E. 1986. Accounting Numbers as Market Valuation Substitutes: A Study of Management Buyouts of Public Stockholders. The Accounting Review 61(3): 400-420.
    Dechow, P. M., R. G. Sloan, and A. P. Sweeney. 1995. Detecting earnings management. The Accounting Review 70(2): 193-225
    DeFond, M. L., R. N. Hann, and X. Hu. 2005. Does the market value financial expertise on audit committees of board of directors? Journal of Accounting Research 43 (Febuary): 153–193.
    Dennis, S. and Mullineaux, D. J.,. 2000. Syndicated loans. Journal of Financial Intermediation 9: 404–426.
    Dhaliwal, D. 2010. The association between accruals quality and the characteristics of accounting experts and mix of expertise on audit committees. Contemporary Accounting Research 27 (3): 787-827.
    Diamond, D. 1984. Financial intermediation and delegated monitoring. Review of Economic Studies 51, 393–414.
    Diamond, D. W. and R. E.Verrecchia. 1991. Disclosure, liquidity, and the cost.
    Fama, E. 1980. Agency problems and the theory of the firm. Journal of Political Economy 88: 288-307.
    Fama, E. F., and M. C. Jensen. 1983. Separation of ownership and control. Journal of Law and Economics 43: 153-193.
    Fanto, J. A., L. M. Solan, and J. M. Darley. 2011. Justifying board diversity. Brooklyn Law School Legal Studies Research Paper Series 224 (March)
    Felo, A. J.,S. Krishnaurthy, and S. A. Solieri. 2003. Audit Committee Characteristics and the Perceived Quality of Financial Reporting: An Empirical Analysis. Working paper, PennState Great Valley.
    Fields, L. P., D. R. Fraser, A. Subrahmanyam. 2012. Board quality and the cost of debt capital: The case of bank loans. Journal of Banking & Finance 36 (May): 1536-1547.
    Finkelstein, S., & Mooney, A. C. 2003. Not the usual suspects: How to use board process to make boards better. Academy of Management Executive 17(2): 101-113.
    Forbes, D. P., & Milliken, F. J. 1999. Cognition and corporate governance: Understanding boards of directors as strategic decision-making group. The Academy of Management Review 24: 489-505.
    Francis, J., R. LaFond, P. Olsson and K. Schipper. 2005. The market pricing od accruals quality. Journal of Accounting and Economics 39: 295-327.
    Graham, J. R., Li, S., & Qiu, J. 2008. Corporate misreporting and bank loan contracting. Journal of Financial Economics 89: 44–61.
    Guner, A. B., U. Malmendier, and G. Tate. 2008. Financial expertise of directors. Journal of Financial Economics 88: 323-354.
    Healy, Paul M. 1985. The Effect of Bonus Schemes on Accounting Decisions. Journal of Accounting and Economics 7(1-3): 85-107.
    Hillman A. J. , Dalziel T. 2003. Boards of directors and firm performance: integrating agency and resource dependence perspectives. Academy of Management Review 39: 383–396.
    Holmstrom, B., Tirole, J., 1997. Financial intermediation, loanable funds, and the real sector. Quarterly Journal of Economics 112: 663–691.
    Ivashina, V., 2009. Asymmetric information effects on loan spreads. Journal of Financial Economics 92: 300–319.
    Jensen, M. C., & Meckling, W. H. 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3: 305-360.
    John, R. G., Si Li , Jiaping Qiu. 2008. Corporate misreporting and bank loan contracting. Journal of Financial Economics 89 (July): 44-61.
    Joia, L. A. and Malheiros, R. 2009. Strategic alliances and the intellectual capital of firms. Journal of Intellectual Capital 10(4): 539-58.
    Jones, Jennifer J. 1991. Earnings Management during Impor Relief Investigations. Journal of Accounting Research 29(2): 193-228
    Joshi, A., Liao, H., & Roh, H. 2011. Bridging domains in workplace demography research: A review and reconceptualization. Journal of Management 37: 521-552.
    Johnson, S. G., K. Schnatterly, and A. D. Hill. 2013. Board Composition Beyond Independence: Social Capital, Human Capital, and Demographics. Journal of Management 39 (January): 232-262.
    Kassinis, G., & Vafeas, N. 2002. Corporate boards and outside stakeholders as determinants of environmental litiga- tion. Strategic Management Journal, 23: 399-415.
    Kim, H., & Lim, C. 2010. Diversity, outsider directors’ and firm valuation: Korean evidence. Journal of Business Research 63: 284-291.
    Klein, A. 2002. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics 33: 375-400.
    Kor, Y. Y. and C. Sundaramurthy. 2009. Experience-Based Human Capital and Social Capital of Outside Directors. Journal of Management 35 (August): 981-1006.
    Krishnan, J., Y. Wen, and W. Zhao. 2011. Legal expertise on corporate audit committees and financial reporting quality. The Accounting Review 86 (6): 2099–2130.
    Lee, S. W. and D. J. Mullineaux. 2004. Monitoring, financial distress, and the structure of commercial lending syndicates. Financial Management 33: 107–130.
    Lee, Y. S., S. Rosenstein, and J. G. Wyatt. 1999. The value of financial outside directors on corporate boards. International Review of Economics and Finance 8: 421-431.
    Lin, C., Ma Y., Malatesta P. and Xuan, Y. 2012. Corporate ownership structure and bank loan syndicate structure. Journal of Financial Economics 104 (April) :1-22.
    Mehran,R., A. Shleifer, and C. W. Smith. 1997. Board composition and corporate control: Evidence from the insurance industry. Journal of Business 70: 33-62.
    Mizruchi, M. S. & Stearns, L.B. 1988. A longitudinal study of the formation of interlocking directorates. Administrative Science Quarterly, 33: 194-210.
    Mizruchi, M. S., & Stearns, L. B. 1994. A longitudinal-study of borrowing by large American corporations. Administrative Science Quarterly 39: 118-140.
    Petersen, M. A., and Rajan, R. G.1994. The benefits of firm-creditor relationships: Evidence from small business data. Journal of Finance 49 : 3-37.
    Pfeffer, J., & Salancik, G. 1978. The external control of organizations. New York: Harper & Row.
    Pittman, J. A., Fortin, S., 2004. Auditor choice and the cost of debt capital for newly public firms. Journal of Accounting and Economics 37: 113–136.
    Pozen, R.C., 2010, The big idea: The case for professional boards, Harvard Business Review, December.
    Prevost, A. K., R. P. Rao, and M. Hossain. 2002. Determinants of board composition in New Zealand: a simultaneous equations approach. Journal of Empirical Finance 9: 373-397.
    Qian, J., Strahan, P. E., 2007. How laws and institutions shape financial contracts: the case of bank loans. Journal of Finance 62: 2803–2834.
    Reichelt, K., and D. Wang. 2010. National and office-specific measures of auditor industry expertise and effects on audit quality. Journal of Accounting Research 48 (3): 647–686.
    Sengupta, P. 1998. Corporate Disclosure Quality and the Cost of Debt. The Accounting Review 73: 459-474.
    Strahan, P. E. 1999. Borrower risk and the price and non-price terms of bank loans. Working paper, Federal Reserve Bank of New York, New York.
    Stearns, L. B., & Mizruchi, M. S. 1993. Board composition and corporate financing: The impact of financial institution representation on borrowing. Academy of Management Journal, 36: 603-618.
    Sufi, A., 2007. Information asymmetry and financing arrangements:evidence from syndicated loans. Journal of Finance 62: 629–668.
    Weisbach, M. 1988. Outside directors and CEO turnover. Journal of Financial Economics 20: 431-460.
    Westphal, J. D., & Fredrickson, J. W. 2001. Who directs strategic change? Director experience, the selection of new CEOs, and change in corporate strategy. Strategic Management Journal, 22: 1113-1137.
    Westphal, J. D., & Milton, L. P. 2000. How experience and network ties affect the influence of demographic minori- ties on corporate boards. Administrative Science Quarterly, 45: 366-398.
    Xie, B., W. N. Davidson, and P. J. Dadalt. 2003. Earnings Management and Corporate Governance: The Role of the Board and the Audiy Committee. Journal of Corporate Finance 9(3): 295-316
    Description: 碩士
    國立政治大學
    會計研究所
    102353020
    103
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0102353020
    Data Type: thesis
    Appears in Collections:[會計學系] 學位論文

    Files in This Item:

    File SizeFormat
    302001.pdf756KbAdobe PDF282View/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