盈餘的資訊品質對盈餘管理行為的影響

Abstract

本文以74年至90年上市公司資料，探討盈餘的資訊品質對企業盈餘管理行為的影響，研究上以modified-Jones模型為基礎，同時考量銷貨成本因素的影響及時間序列與橫斷面資料間差異的問題，以裁決性應計項目衡量盈餘管理，並以盈餘的評價能力衡量盈餘資訊品質。實證結果支持當期盈餘品質對盈餘管理程度有負面影響，但上一期盈餘資訊品質對不同型態盈餘管理行為的影響方向並不相同，在相互抵銷下，並未出現顯著的影響。我們同時發現，當未來相對績效或當期相對績效較佳時，管理者會採取降低相對績效表現較佳期間盈餘的策略，而負債比率及審計品質較低的公司，盈餘管理的程度較高。研究也證實企業的成長機會與風險程度也為影響盈餘管理程度的重要因素。

This paper explores the influence of earnings information quality on managers' earnings management behavior. We measure earnings information quality with earnings valuation ability and the magnitude of earnings management with discretionary accruals based on modified-Jones model taking into account the effects of the costs of goods sold and the problems of using pooled cross-sectional and time-series data. The empirical analysis indicates that current period's earnings information quality has significant and negative influence on the magnitude of earnings management. Last period's earnings information quality, on the other hand, has different effects on different earnings management behavior and hence does not show a significant net effect on the magnitude of earnings management. Our analysis also indicates that managers are inclined to reduce the reported earnings figure when it is relatively higher compared to the adjacent periods. Additionally, the lower the leverage and audit quality, the higher the degree of earnings management. We further show that growth opportunity and firm risk are related to earnings management.