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dc.contributor.author陳俊文en_US
dc.contributor.authorChen, Chun-Wunen_US
dc.contributor.author林建榮en_US
dc.contributor.authorLin, Jane-Raungen_US
dc.date.accessioned2014-12-12T01:32:22Z-
dc.date.available2014-12-12T01:32:22Z-
dc.date.issued2008en_US
dc.identifier.urihttp://140.113.39.130/cdrfb3/record/nctu/#GT079639519en_US
dc.identifier.urihttp://hdl.handle.net/11536/43095-
dc.description.abstract傳統上在建構財務危機預警模型時,主要使用財務報表中“表內”的會計比率變數資訊。但由於破產前管理當局往往容易進行盈餘操弄之動作,加上此時公司治理若不佳,則財報上的數據往往失真,同時投資大眾亦容易忽略了資產負債表外之資訊,而造成預警系統無法發揮作用,因此,本研究以財務比率為基礎,另外加入公司治理、盈餘管理變數以及資產負債表外資訊的衍生性金融商品避險,並以logistic模型進行分析企業財務危機發生之機率。此外,由於文獻指出經理人為平穩損益(Income smoothing)下,盈餘管理與避險的衍生性金融商品工具之間在正常公司為一替代的工具,因此本文想進一步探討破產公司在使用這兩項平穩損益的工具上其關係如何。 研究結果發現:1.衍生性金融商品避險程度與財務危機的機率呈現顯著的負相關,而盈餘管理、外部公司治理指標(G-index)與財務危機的機率則呈現顯著的正相關。2.加入這些變數後比只用財務比率預測的預警模型為佳,分類正確率亦較高。3. 對於財務危機公司而言,在使用盈餘管理及衍生性商品避險這兩樣平穩損益的工具上將呈現顯著的正相關(互補關係)。zh_TW
dc.description.abstractTraditionally, researchers construct the financial distress model using “on-balance-sheet” financial ratios which may be manipulated by the managers prior to bankruptcy. Furthermore, the “off-balance-sheet” information is often overlooked by investors.Therefore, this study takes into account the financial ratios, derivatives hedging, earnings management of the discretionary accruals, and corporate governance to process empirical examination with logistic model. As well, we study whether a complementary relation exists between the use of discretionary accruals and derivatives for income smoothing in a financially distressed corporation. The result indicates that the derivatives hedging index has significantly negative effects on financial distress, but discretionary accruals and G-index have significantly positive effects. In addition, adding these variables to the model can enhance the predicting power and lower the sum of error rate. Moreover, there exists a complementary relation between the use of derivatives to hedge and the use of discretionary accruals to manage earnings.en_US
dc.language.isozh_TWen_US
dc.subject衍生性金融商品避險zh_TW
dc.subject裁決性應計項目zh_TW
dc.subject盈餘管理zh_TW
dc.subjectG-indexzh_TW
dc.subject財務危機預警模型zh_TW
dc.subjectDerivativesen_US
dc.subjectDiscretionary accrualsen_US
dc.subjectEarnings Managementen_US
dc.subjectG-indexen_US
dc.subjectFinancial Distress Prediction Modelsen_US
dc.title公司治理、盈餘管理、與衍生性商品避險之使用對財務預警模型影響之實證分析zh_TW
dc.titleThe Evidence of Corporate Governance, Earnings Management,and the Use of Derivatives for Hedging on the Financial Distress Prediction Modelsen_US
dc.typeThesisen_US
dc.contributor.department財務金融研究所zh_TW
Appears in Collections:Thesis