English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113648/144635 (79%)
Visitors : 51631393      Online Users : 562
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 140.119/77155
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/77155


    Title: 策略聯盟與迎合或擊敗分析師盈餘預測之關聯性實證研究
    An Empirical Study of the Association between Strategic Alliances and Meeting or Beating Analysts’ Earnings Forecasts
    Authors: 陳姿云
    Chen, Tzu Yun
    Contributors: 梁嘉紋
    Liang, Jia Wen
    陳姿云
    Chen, Tzu Yun
    Keywords: 策略聯盟
    分析師之盈餘預測門檻
    盈餘管理
    預期管理
    Strategic Alliance
    Analysts` Earnings Forecasts
    Earnings Management
    Forecast Management
    Date: 2015
    Issue Date: 2015-08-03 13:17:19 (UTC+8)
    Abstract: 會計盈餘是企業向投資人傳達營運績效的指標,又投資人視公司達成分析師預測門檻與否為企業前景的重要訊號。當公司宣告策略聯盟決策時,資本市場給予正面評價,不過策略聯盟協議可能使管理當局存在機會主義與盈餘管理活動,過去文獻發現,有策略聯盟的公司,其盈餘品質較低。本文探究企業執行策略聯盟對於跨越盈餘門檻的關聯性,觀察策略聯盟事件是否為管理當局進行盈餘管理或是預期管理的工具,以迎合或擊敗分析師之盈餘預測門檻。本文實證發現策略聯盟與否及策略聯盟多寡與分析師預測門檻具有顯著正相關,而執行策略聯盟之公司從事向下引導分析師預測的機率較低,此外,實證結果亦發現,策略聯盟會降低公司管理當局採取向上調整裁決性應計數的可能性。綜上研究顯示,有策略聯盟之企業達成分析師預測門檻的機會較高,然而,其管理當局較不會選擇應計項目盈餘管理或預期管理方式來迎合或擊敗分析師之盈餘預測門檻。
    Reference: 一、中文部分
    朱家賢,2011,達到分析師盈餘預測門檻之盈餘管理行為─以中國上市公司為例,國立師範大學管理研究所碩士論文。
    林瑞青、卓佳慶、賴筠婷與鄭栢岳,2012,再探策略聯盟資訊內涵之研究:生命週期觀點,會計審計叢書,第 2 卷第 1 期(6 月):115-139。
    金成隆、林修葳與張永芳,1999,強制性財務預測誤差與盈餘管理關係:20%門檻限制影響之研究,中國財務學刊,第七卷第一期,頁 59-96。
    紅立勝,2000,我國上市公司分析師盈餘預測與盈餘管理關聯性之實證研究,國立政治大學會計研究所碩士論文。
    黃旭輝、蔡明恭與闕河士,2001,策略聯盟宣告對股東財富影響之研究,管理研究學報,第 1 卷,第 2 期:321-336。
    許永聲、陳信吉、陳琬菁,2013,董事會特性與盈餘管理之選擇行為,會計評論,第 57 期(7 月):39-72。
    陳一如,2010,企業組織型式與董事會結構對策略聯盟財富效果之影響,管理評論,第 29 卷,第 3 期:79-102。

    二、英文部分
    Abarbanell, J. S., and R. Lehavy. 2003. Biased forecasts or biased earnings? The role of earnings management in explaining apparent optimism and inefficiency in analysts’ earnings forecasts. Working paper. University of North Carolina,
    Chapel Hill. Adiel, R. 1996. Reinsurance and the management of regulatory ratios and taxes in the
    property—casualty insurance industry. Journal of Accounting and Economics 22(August-December): 207-240.
    Alfred, L. C. L., T. T. Hoe, and T. Wilkins. 2001. The role of the discretionary accruals and classification decisions in the management of earnings. Working paper. National University of Singapore.
    Anand, B., and T. Khanna. 2000. Do firms create value? The case of alliance. Strategic Management Journal 21 (3): 295-315.
    Barton, J., and P. J. Simko. 2002 The balance sheet as an earnings management constraint. The Accounting Review 77: 1–27.
    Bartov, E., D. Givoly, and C. Hayn. 2002. The rewards to meeting or beating earnings expectations. Journal of Accounting & Economics 33: 173–204.
    Bartov, E., and D. A. Cohen. 2008. The ―Numbers Game‖ in the pre-and post-Sarbanes-Oxley eras. Journal of Accounting, Auditing & Finance 24 (4): 505-534.
    Beatty, A., S. L. Chamberlian, and J. Magliolo. 1995. Managing financial reports of commercial banks: The influence of taxes, regulatory capital, and earnings.
    Journal of Accounting Research 33 (Autumn): 231-261.
    Brown, L. 1997. Analyst forecasting errors: Additional evidence. Financial Analysts` Journal 53 (6): 81-88.
    Brown, L. 2001. A temporal analysis of earnings surprises: Profits versus losses. Journal of Accounting Research 39 (2): 221-241.
    Brown, L., and M. Caylor. 2005. A temporal analysis of quarterly earnings thresholds: Propensities and valuation consequences. The Accounting Review 80: 423–40.
    Brown, L., and S. Pinello. 2007. To what extent does the financial reporting process curb earnings surprise games? Journal of Accounting Research 45 (5): 947–981.
    Brous, P. A., and O. Kini. 1993. A reexamination of analysts` earnings forecasts for takeover targets. Journal of Financial Economic 33: 201-225.
    Burgstahler, D., and I. Dichev. 1997. Earning management to avoid earnings decreases and losses. Journal of Accounting and Economics 24 (January): 99-126.
    Burgstahler, D., and M. Eames. 2006. Management of earnings and analysts` forecasts to achieve zero and small positive earnings surprise. Journal of Business Finance & Accounting 33 (5) & (6): 633–652.
    Chan, S. H., J. W. Kensinger, A. J. Keown, and J. D. Martin. 1997. Do strategic alliances create value? Journal of Financial Economics 46: 1991-221.
    Chen, J., T. D King, and M.Wen. 2013. Do strategic alliances and joint ventures create value for bondholders and shareholders? Working paper. University of North Carolina & California State University, Los Angeles.
    Cohen, D., R. Mashruwala, and T. Zach. 2010. The use advertise to meet earning benchmarks: Evidence from monthly data. Review of Accounting Studies 15 (4): 808–832.
    Chung, K. H., and C. Charoenwong. 1998. Insider trading and the bid‐ask spread. Financial Review 33 (3): 1-20.
    Collins, J. H., D. A. Shackelford, and J. M. Wahlen. 1995. Bank differences in the coordination of regulatory capital, earnings, and taxes. Journal of Accounting
    Research 33 (Autumn): 263-291.
    Combs, J. G., and D. J. Ketchen, Jr. 1999. Explaining interfirm cooperation and performance: Toward a reconciliation of predications from the resource-based
    view and organizational economics. Strategic Management Journal 20 (9): 867-888.
    Das, S., C. B. Levine, and K. Sivaramakrishnan. 1998. Earnings predictability and bias in analysts` earnings forecasts. The Accounting Review 73 (2): 277-294.
    Das, S., P. Sen, and S. Sengupta. 1998. Impact of strategic alliances on firm valuation. Academy of Management Journal 41 (1): 27-41.
    Das, T. K., and B. S. Teng. 2000. A resource-based theory of strategic alliances. Journal of Management 26 (1): 31-61.
    DeAngelo, L. E. 1986. Accounting numbers as market valuation substitutes: A study of management buyouts of public stockholders. The Accounting Review 61: 400-420.
    DeAngelo, H., L. E. DeAngelo, and D. J. Skinner. 1994. Accounting choice in troubled companies. Journal of Accounting and Economics 17: 113-143.
    Dechow, P. M., and R. G. Sloan. 1991. Executive incentives and the horizon problem: An empirical investigation. Journal of Accounting and Economics 14 (1): 51-89.
    Dechow, P. M., R. G. Sloan, and A. P. Sweeney. 1995. Detecting earnings management. The Accounting Review 70: 193-225.
    Dechow, P. M., and D. J. Skinner. 2000. Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons 14 (2): 235-250.
    Dechow, P. M., S. Richardson, and I. Tuna. 2003. Why are earnings kinky? An examination of the earnings management explanation. Review of Accounting Studies 8: 355–84.
    DeFond, M . L., and J. Jiambalvo. 1994. Debt covenant violation and manipulation of accruals. Journal of Accounting and Economics 17: 1-32.
    Degeorge, F., J. Patel, and R. Zeckhauser. 1999. Earnings management to exceed thresholds. Journal of Business 72: 1-33.
    Degeorge, F., Y. Ding, T. Jeanjean, and H. Stolowy. 2005. Does analyst following curb earnings management? International evidence. ECGI working paper.
    Demers, E., and C. Wang. 2010. The impact of CEO career concerns on accruals based and real earnings management. Working paper. University of Virginia.
    Demirkan, S., and I. Demirkan. 2014. Implication of strategic alliances for earnings quality and capital market investors. Journal of Business Research 67:
    1806-1816.
    Devlin, G., and M. Bleackley 1988. Strategies alliances─guidelines for success. Long Range Planning 21(5): 18-23.
    Ewert, R., and A. Wagenhofer. 2005. Economic effects of tightening accounting standards to restrict earnings management. The Accounting Review 80 (4): 1101-1101.
    Fan, Y., A. Barua, W. M. Cready, and W. B. Thomas. 2010. Managing earnings using classification shifting: Evidence from quarterly special items. The Accounting Review 85 (4): 1303-1323.
    Fields, T., T. Lys, and L. Vincent. 2001. Empirical research on accounting choice. Journal of Accounting and Economics 31 (1-3): 255-307.
    Friedlan, J. M. 1994. Accounting choices of issuers of initial public offering. Contemporary Accounting Research 11: 1-31.
    Gersony, N. 1996. Sectoral effects on strategic alliance performance for new technology firms. The Journal of High Technology Management Research 7 (2): 175-189.
    Graham, J., C. Harvey, and S. Rajgopal. 2005. The economic implications of corporate financial reporting. Journal of Accounting and Economic 4 (1-3): 3-73.
    Guay, W. R., S. P. Kothari, and R. L. Watts. 1996. A market-based evaluation of discretionary accrual models. Journal of Accounting Research 34 (Supplement): 83-105.
    Harrigan, K. R. 1988. Strategic alliance and partner asymmetries. Management International Review 28: 53-72.
    Healy, P. M. 1985. The effects of bonus schemes on accounting decisions. Journal of Accounting and Economics 7: 85-107.
    Healy, P. M., and K. G. Palepu. 1990. Effectiveness of accounting-based dividend covenants. Journal of Accounting and Economics 12: 97-124.
    Healy, P. M., and J. M. Wahlen. 1999. A review of the earnings management literature and its implications for standard setting. Accounting Horizons 13 (4): 365-383.
    Hitt, M. A., R. D. Ireland, and R. E. Hoskisson. 1997. Strategic management: Competitiveness and globalization. Eagan, MN: West Publishing Company.
    Hunt, A., S. E. Moyer, and T. Shevlin. 1996. Managing interacting accounting measures to meet multiple objectives: A study of LIFO firms. Journal of
    Accounting and Economics 21 (3): 339-374.
    Hwang, L., C. Jan, and S. Bash. 1996. Loss firms and analysts’ earnings forecast errors. Journal of Financial Statement Analysis 1: 18–30.
    James, B. G. 1985. Alliance: The new strategic focus. Long Range Planning 18 (3): 76-81.
    Jones, J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29: 193-228.
    Kahneman, D., and A. Tversky. 1979. Prospect theory: An analysis of decision under risk. Econometrica 47 (2): 263-292.
    Kasznik, R. 1999. On the association between voluntary disclosure and earnings Management. Journal of Accounting Research 37 (1): 57-81.
    Kester, W. C. 1984. Today`s options for tomorrow`s growth. Harvard Business Review (March/April): 153-160.
    Killing, J. P. 1988. Understanding alliance: The role of task and organizational complexity. In Cooperative strategies in international business, ed. Contractor, F.
    J., and P. Lorange. 55-67. Lexington, MA: Lexington Book Co-operation.
    Kothari, S. P., A. Leone, and C. E. Wasley. 2005. Performance matched discretionary accrual measures. Journal of Accounting and Economics 39 (1): 163-197.
    Lee, S., and K. Lim. 2006. The impact of M&A and joint ventures on the value of IT and Non-IT firms. Review of Quantitative Finance and Accounting 27 (2): 111-123.
    Lin, S., S. Radhakrishnan, and L. Su. 2006. Earnings management and guidance for meeting or beating analysts’ earnings forecasts. Working paper. California State
    University, Fresno, University of Texas & The Hong Kong Polytechnic University.
    Matsumoto, D. A. 2002. Management’s incentives to avoid negative earnings surprises. The Accounting Review 77 (3): 483-514.
    McVay, S. E. 2006. Earnings management using classification shifting: An examination of core earnings and special items. The Accounting Review 81: 501-531.
    Moses, O. D. 1987. Income smoothing and incentives: Empirical tests using accounting changes. The Accounting Review 62: 358-377.
    Moyer, S. E. 1990. Capital adequacy ratio regulations and accounting choices in commercial banks. Journal of Accounting and Economics 13 (July): 123-154.
    Murphy, K. J., and J. L. Zimmerman. 1993. Financial performance surrounding CEO turnover. Journal of Accounting and Economics 16: 273–315.
    Nelson, M., J. Elliott, and R. Tarpley. 2002. Evidence from auditors about managers’ and auditors’ earnings management decisions. The Accounting Review 77 (supplement): 175-202.
    Nohria, N., and C. Garcia-Pont. 1991. Global strategic linkages and industry structure. Strategic Management Journal 12 (S1): 105-124.
    Palepu, K., V. Bernard, and P. Healy. 1997. Introduction to business analysis and valuation. Cincinnati, Ohio: South-Western Publishing Co.
    Park, N. K., J. M. Mezias, and J. Song. 2004. A resource-based view of strategic alliances and firm value in the electronic marketplace. Journal of Management 30 (1): 7-27.
    Roychowdhury, S. 2006. Earnings management through real activities manipulation. Journal of Accounting and Economics 42 (3): 335-370.
    Ronen, J., and Sadan, S. 1981. Smoothing numbers: Objectives, means and implications. Boston, MA: Addison-Wesley Publishing Inc.
    Schipper, K. 1989. Commentary on earnings management. Accounting Horizons 3 (4): 91-102.
    Skinner, D., and R. Sloan. 2002. Earnings surprises, growth expectations, and stock returns or don’t let an earnings torpedo sink your portfolio. Review of Accounting Studies 7: 289–312.
    Soffer, L. C., S. R. Thigarajan, and B. Walther. 2000. Earnings preannouncement strategies. Review of Accounting Studies 5: 5-26.
    Teoh, S. H., I. Welch, and T. J. Wong. 1998. Earnings management and the underperformance of seasoned equity offerings. Journal of Financial Economics 50: 63-99.
    Teoh, S. H., Y. G. Yang, and Y. Zhang. 2009. The earning numbers game: Rewards to walk down and penalties to walk up of analysts’ forecasts of earnings. Working paper. University of California, Irvine.
    Watts, L. W., and J. L. Zimmerman. 1978. Toward a positive accounting theory of determination of accounting standards. Accounting Review 53: 112-134.
    Wang, S., and J. D’ Souza. 2006. Earnings management: The effect of accounting flexibility on R&D investment choices. Working paper. Cornell University, New York.
    Wu, Y. W. 1997. Management buyout and earning management. Journal of Accounting, Auditing and Finance 12 (Fall): 373-389.
    Yoshino, M. Y., and U. S. Rangan. 1995. Strategic alliances: An entrepreneurial approach to globalization. Boston, MA: Harvard Business School Press.
    Description: 碩士
    國立政治大學
    會計研究所
    102353011
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0102353011
    Data Type: thesis
    Appears in Collections:[會計學系] 學位論文

    Files in This Item:

    File SizeFormat
    301101.pdf1519KbAdobe PDF2166View/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