政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/112145

政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/112145

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政大典藏 > College of Commerce > Department of Accounting > Theses > Item 140.119/112145

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/112145

Title:	財務報導資訊在偵測財務危機上的有用性－個案研究 The Usefulness of Financial Reporting Information in Detecting Financial Distress: A Case Study Approach
Authors:	張家瑋
Contributors:	張清福張家瑋
Keywords:	財務危機財務報表舞弊個案研究安隆世界通訊博達力霸 Financial distress Fraudulent financial statement Case study Enron WordCom Procomp Rebar
Date:	2017
Issue Date:	2017-08-28 11:22:37 (UTC+8)
Abstract:	由於各國地雷股事件層出不窮，致使投資人財富遭受巨大損失，若是能事先察覺地雷股的存在，便能使投資人財富有更大的保障。本研究以四家國內外大型的舞弊個案－安隆、世界通訊、博達、力霸作為研究樣本，透過四家公司之財務資訊深入剖析各個案公司之舞弊手法。本研究歸納整理出21個預警指標，以作為未來投資人的評估基礎，以發現危機的早期徵兆，能及早避開地雷股。研究發現即便是有進行窗飾財務報表的財務危機公司，仍能透過財務報導資訊中發現其端倪，四家個案公司在獲利性指標、流動性指標、安全性指標都有出現至少一項的紅旗警訊。研究結果顯示在下列指標上有較多家公司同時符合：(1) 獲利性指標。當資產報酬率以及股東權益報酬率過低或逐年下滑；(2)流動性指標。現金流量比率過低或逐年下滑；(3)安全性指標。借款依存度過高或逐年增加，以及流動比率過低或逐年下滑。 Does financial reporting information itself provide early insightful information in detecting financial distress? Window dressing in financial reporting casts doubtful questions on this issue. As with investors usually taking a look at individual firm’s financial reporting, this study utilizes case study with four cases to address this fundamental role of financial reporting. Among the four fraud cases investigated, two are from the United States and the other two are Taiwan companies, including Enron, WorldCom, Procomp, and Rebar. This study sorts out 21 warning indices to evaluate each company’s financial condition and find out the signals for financial distress. All of these four cases investigated have at least one red flag signaled in profitability, liquidity and leverage. The most prominent indices in these three dimensions include (1) Profitability---ROE or ROA decreases in trend annully, (2) Liquidity---low cash flow ratio or decreasing in trend annually and low current ratio or decreasing in trend annually, and (3) Leverage---high debt to equity ratio or increasing in trend annually.
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Description:	碩士國立政治大學會計學系 104353014
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G0104353014
Data Type:	thesis
Appears in Collections:	[Department of Accounting] Theses

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