存貨準則變動對企業存貨管理決策之影響

Abstract

本文旨在探討台灣上市櫃公司於存貨準則公報修訂後，是否會改變其存貨管理之決策。本研究利用存貨準則變動前後各三年之資料，以存貨二項特性（重大性及穩定性）加以區分。實證發現，對於存貨較重大及穩定性較低之企業，於準則修正後，更會降低存貨生產之數量以因應新準則對財報之影響；此外，本文也發現，企業之生產策略會考量存貨跌價損失及回升利益之波動程度，在價值波動大之企業會有較保守的存貨生產政策。整體而言，透過本文結果可知企業會配套調整其存貨生產政策來因應存貨準則之修訂。由於存貨準則之變動更突顯存貨對財報損益數字之影響，本研究結果支持受存貨特性影響較大之企業（重大性高及穩定性低者），會因此更加重視合適存貨水準控管之正面效果。本研究之貢獻在於透過二種不同存貨特性剖析財會準則與企業存貨管理決策之關係，發現財會準則公報之修正會導致企業配套調整存貨生產決策，提出台灣研究關於準則變動與管理策略關係之本土實證發現。

The objective of this study was to investigate whether revisions to inventory accounting standards have changed the inventory management decisions of publicly traded companies in Taiwan. This study employed data from the three years before and after changes in inventory accounting standards. The data involved two major characteristics of inventories (materiality and stability). The empirical results indicated that firms with high materiality and low stability in their inventories reduced the quantity of inventory production after revisions to inventory accounting standards to cope with the impact of the new standards on financial reporting. This study also found that corporate production strategies take into account the fluctuation in inventory losses from falling prices and gains from price recovery. Firms with greater price fluctuations adopted more conservative inventory production policies. On the whole, the results of this study show that firms adjusted their inventory production policies in response to revisions to inventory accounting standards. Due to the fact that revisions to inventory accounting standards highlight the influence of inventories on figures in financial statements, the results of this study support that firms which inventories have greater impact on (high materiality and low stability) attach more importance to the positive effects of suitable inventory management. The contributions of this study lie in its use of two different inventory characteristics to analyze the relationships between accounting standards and corporate inventory management decisions, its discovery that revisions to inventory accounting standards cause firms to adjust their inventory production policies, and its presentation of empirical findings regarding the relationship between revisions to inventory accounting standards and management strategies in Taiwan.