标题: | 避免报导负盈余与过度生产行为关联性之研究:论最终控制股东角色 |
作者: | 彭智伟 杨朝旭 Institute of Business and Management 经营管理研究所 |
关键字: | 过度生产行为;负盈余;股权结构;控制权;现???权;Over-production Behavior;Negative Earnings;Ownership Structure;Control Rights;Cash Flow Rights |
公开日期: | 2013 |
摘要: | 国内一般公认会计原则规定企业财务报表需依照归纳成本制度编制,此规定使得制造业公司管理者有机会藉由囤积商品存货来降低报导的销货成本,进而达成虚增报导盈余的目标。本研究分析当国内制造业公司面临报导负盈余之情境时,管理者是否从事投机性过度生产行为以避免报导负盈余。其次,鉴于控制股东与少数股东之间的股权代?问题普遍存在于国内上市企业,本研究亦分析控制股东控制权与现金流量权偏离程度,是否会影响制造业公司管?者从事投机性过度生产行为以避免报导负盈余。本研究以2000年至2008年的国内上市及上柜制造业公司为样本进?分析,实证结果发现:制造业公司管理者倾向从事投机性过度生产行为以避免报导负盈余;在控制股东控制权与现金流量权偏离程度越大的制造业公司,此现象又更为严重。 According to Taiwan Generally Accepted Accounting Principles, absorption costing is the required inventory costing method for external financial reporting. Thus, managers can decrease reported cost of goods sold and increase reported income by engaging in excess production. This study aims to investigate whether managers of manufacturing firms resort to excess production (i.e., production in excess of market demand) to avoid reporting annual losses. In light of the fact that the most relevant agency problem may be the one between firms' controlling shareholders and minority shareholders in Taiwan, we also investigate whether managers have higher tendency to engage in opportunistic over-production behavior in order to avoid reporting annual losses when the ultimate controlling shareholder's ownership-control rights diverge. Using a sample of firms listed on the TSE or trading on Taiwan's OTC market from 2000 to 2008, we find that manufacturing firms engage in excess production in order to avoid reporting annual losses, and this phenomenon is more pronounced for manufacturing firms with larger degree of control-ownership disparity. |
URI: | http://hdl.handle.net/11536/132353 |
期刊: | 管理与系统 Journal of Management and Systems |
Volume: | 20 |
Issue: | 4 |
起始页: | 727 |
结束页: | 753 |
显示于类别: | Journal of Management and System |
文件中的档案:
If it is a zip file, please download the file and unzip it, then open index.html in a browser to view the full text content.