進階搜尋


   電子論文尚未授權公開,紙本請查館藏目錄
(※如查詢不到或館藏狀況顯示「閉架不公開」,表示該本論文不在書庫,無法取用。)
系統識別號 U0026-0812200913392303
論文名稱(中文) 中國大陸上市公司股權結構與盈餘品質之關聯
論文名稱(英文) The relationship between equity structure and earnings quality: Evidence from China
校院名稱 成功大學
系所名稱(中) 財務金融研究所
系所名稱(英) Graduate Institute of Finance & Banking
學年度 95
學期 2
出版年 96
研究生(中文) 賴廣濤
研究生(英文) Kuang-Tao Lai
學號 r8694113
學位類別 碩士
語文別 中文
論文頁數 64頁
口試委員 指導教授-邱正仁
口試委員-楊朝旭
口試委員-陳嬿如
中文關鍵字 股權結構  盈餘品質 
英文關鍵字 earnings quality  equity structure 
學科別分類
中文摘要 本研究探討中國股權結構對於上市公司的盈餘品質是否有影響。檢測2000年至2005年間於上海及深圳證交所交易之上市公司,共有4643筆研究樣本。本研究實證指出,法人股權與境外流通股股權與公司盈餘品質有顯著正向關係,而國有股與盈餘品質的關係並不顯著,當國有股為控制股東時,與盈餘品質的關係亦不顯著。本研究發現中國上市公司的股權結構與盈餘品質確實存在關係。
英文摘要 This paper examines the relationship between equity structure and earnings quality. We use a sample of 4643 China’s listed firm-year data during the period from 2000 to 2005. The empirical results show that legal-person ownership and foreign ownership have significantly positive relationship with earnings quality. However, state-owned ownership have no significantly relationship with earnings quality, when the controlling shareholder is state-owned ownership, there exists the same result as the former case. Our results show that equity structure is a significant determinant of earnings
quality.
論文目次 第一章、 研究背景與動機................................. 6
第二章、 文獻回顧...................................... 11
第一節 中國大陸股權分置衍生之問題.................... 11
第二節 中國大陸股權結構介紹.......................... 13
第三節 股權結構與盈餘品質關係探討.................... 16
第四節 中國股權結構與財務績效及公司價值關聯探討...... 21
第三章、 假說推論與研究設計............................ 26
第一節 假說推論...................................... 26
第二節 研究樣本與資料來源............................ 29
第三節 研究設計...................................... 29
第四節 變數定義與衡量................................ 30
第四章、 實證結果與分析................................ 39
第一節 敘述統計量及其分析............................ 39
第二節 迴歸實證結果分析.............................. 49
第五章、 結論.......................................... 53
附錄................................................... 55
參考文獻............................................... 60
參考文獻 王化成,胡國柳,2004年,股權結構在公司治理中的作用及效率-文獻回顧及基於中國上市公司的未來研究方向,湖南大學學報,第3期,頁1-11。

王俊秋,2005 年,大股東: 控制權收益與盈餘管理,商業研究,第16期,頁62-64。

王倩,2004 年,會計環境與會計模式的國際比較及啟示,中國農業會計,第6 期,頁16-18。

王繼紅,賈香萍與張元啟,2004 年,我國上市公司盈餘管理問題研究,中央財經大學學報,第9期,頁48-51。

李長青,管連雲,2004 年,股權結構與盈餘管理關係的實證研究,商業研究,第19期,頁48-53。

孟豔瓊,2001年,上市公司盈餘管理的動機分析,統計與決策,第143期,頁43。

孟豔瓊,2002年,上市公司盈餘管理問題探討,科技新報,第14期,頁127-129。

徐曉敏,2002 年,我國上市公司盈餘管理探析,江西社會科學,第6 期,頁200-202。

袁紅,2004年,上市公司盈餘質量探析,鄉鎮經濟,第46期,頁44-46。

康榮寶,2001 年,中國大陸證券市場政策發展分析(上),台灣證券交易所證交資料,第468期,頁73-92。

康榮寶,2001 年,中國大陸證券市場政策發展分析(下),台灣證券交易所證交資料,第469期,頁50-86。

賀娜,2005 年,中國國有企業隱性失業的體制成因及治理對策,株洲師範高等專科學校學報,第4期,頁103-105。

黃新建,吳江,2007 年,公司治理結構與盈餘管理研究-基於我國ST 公司的經驗證據,生態經濟,第1期,頁78-82。

楊全社,彭輝,2001 年,以公司治理結構看國有股減持,河南金融管理幹部學院學報,第4期,頁25-26。

葉銀華,馬君梅,1999年,股權結構、公司價值與內部監督機制-上海證券市場實證研究,亞太管理評論第1期,頁37-50。

趙息,馬磊與馮昕,2006 年,以盈餘管理角度看股權分置改革,西安電子科技大學學報,第4期,頁6-10。

劉鳳委,汪輝與孫錚,2005年,股權性質與公司業績-基於盈餘管理基礎上的經驗分析,財經研究,第6期,頁96-105。

蔣銀花,2005 年,我國上市公司盈餘管理的手段及其防範建議,當代情報,第8 期,頁125-127。

駱正清,丁雅,2006 年,國有上市公司股權分置改革研究,經濟師,第8期,頁101-104。

謝碧琴,2005年,關聯交易:H股公司與A股公司的比較,證券市場導報,2月號,頁41-44。

Abarbanell, J. S. and B. J. Bushee, 1997, Fundamental analysis, future earnings and stock prices, Journal of Accounting Research 35, 1–24.

Aharony, J., C. J. Lee, and T. J. Wang, 2000, Financial packaging of IPO firms in China, Journal of Accounting Research 38, 103–126.

Ahmed, A., B. Billings, and R. Morton, 2004, Extreme accruals, earnings quality, and investor mispricing, Working paper, Florida State University, 1-50.

Al-Debie, M. and M. Walker, 1999, Fundamental information analysis: An extension and UK evidence, British Accounting Review 31, 261–280.

Bernstein, L., 1993, Financial statement analysis: theory, application and interpretation, Boston: McGraw-Hill, 233 258.

Bernstein, L., and J. Siegel, 1979, The concept of earnings quality, Financial Analysis
Journal, 72-75.

Bortolotti, B., M. Fantini, and C. Scarpa, 2000, Why do government sell privatized companies abroad, International Review of Finance 3, 131–161.

Boycko, M., A. Shleifer, and R. W. Vishny, 1996, A theory of privatization, The Economic Journal 106, 309-319.

Bushee, B. J., 1998, Institutional investors, long-term investment, and earnings management, The Accounting Review 73, 305–333.

Chen, J., P. Charles, F. A. Gul, and X. Su, 1999, A comparison of reported earnings under Chinese GAAP vs. IAS: Evidence from the Shanghai stock exchange, Accounting
Horizon 13, 91-111.

Chhibber, P. K. and S. Majumdar, 1999, Foreign ownership and profitability: Property rights, control and the performance of firms in Indian industry, Journal of Law and Economics 42, 209-238.

Clarke, D. C., 2003, Corporate governance in China: An overview, China Economic Review 14, 494-507.

Dechow, P. M. and C. M. Schrand, 2004, Earnings quality, The Research Foundation of CFA Institute.

Dechow, P. M. and I. D. Dichev, 2002, The quality of accruals and earnings: The role of accrual estimation errors, The Accounting Review 77, 35-59.

Fazzari, S., G.. Hubbard, and B. Peterson, 1988, Financing constraints and corporate investment, Brookings Papers on Economic Activity 1, 141-206.

Graham, B., D. Dodd, S. Cottle, and C. Tatham, 1962, Security analysis, New York: McGraw-Hill, 186-195.

Gul, F. A. and R. Zhao, 2000, Corporate governance and performance in Chinese listed companies, Working paper, City University of Hong Kong, 1-16.

Healy, P. M. and J. M. Wahlen, 1999, A review of the earnings management literature and its implication for standard settings, Accounting Horizons 13, 365-383.

Hermanns, S., 2006, Financial information and earnings quality: a literature review, Working paper, University of Namur, 1-54.

Hovey, M., L. Li, and T. Naughton, 2003, The relationship between valuation and ownership of listed firms in China, Corporate Governance 11, 112-122.

Jones, J. J., 1995, Earnings management during import relief investigation, Journal of Accounting Research 29, 193-228.

Kim, J. B. and C. H. Yi, 2005, Ownership structure, business group affiliation, listing status, and earnings management: Evidence from Korea, Working paper, Hong Kong
Polytechnic University, 6-13.

Kirschenheiter, M. and N. Meluumad, 2004, Earnings quality and smoothing, Working paper, Columbia Business School, 65-66.

Lev, B. and S. R. Thiagarajan, 1993, Fundamental information analysis, Journal of Accounting Research 31, 190-215.

Lin, Y. M. and T. Zhu, 2000, Ownership reform and corporate governance: the case of China’s state-owned enterprises, Hong Kong: SJE International conference on corporate governance and restructuring in East Asia, 1-33.

Liu, L. Y. and E. Y. Peng, 2006, Institutional ownership composition and accruals quality, Working paper, California State University, 19-20.

McNichols, M. and G.. P. Wilson, 1988, Evidence of earnings management from the provision for bad debts, Journal of Accounting Research 26, 1-31.

Mi, Z. and X. Wang, 2000, Agency costs and the crisis of China’s SOE, China Economic Review 11, 299-317.

Ming, J. and T. J. Wong, 2004, Earnings management and tunneling through related party transactions: Evidence from Chinese corporate groups, Working paper, Hong Kong
University of Science and Technology, 1-20.

O’Glove, T., 1987, Quality of earnings, New York: The Free Press, 272-303.

Qi, D., W. Wu, and H. Zhang, 2000, Shareholding structure and corporate performance of partially privatized firms: Evidence from listed Chinese companies, Pacific-Basin
Finance Journal 8, 587-610.

Qiang, Q., 2003, Corporate governance and state-owned shares in China listed companies, Journal of Asian Economics 14, 771-783.

Rajgopal, S., M. Venkatachalam, and J. Jiambalvo, 2002, Is institutional ownership associated with earnings management and the extent to which stock prices reflect
future earnings, Contemporary Accounting Research 19, 117-136.

Schipper, K., 1989, Commentary on earnings management, Accounting Horizons 3, 91-102.

Sloan, R. G., 1996, Do stock prices fully reflect information in accruals and cash flows about future earnings, The Accounting Review 71, 289-315.

Sun Q. and W. Tong, 2003, China share issue privatization: the extent of its success, Journal of Financial Economics 70, 183-222.

Tehranian, H., M. M. Cornett, A. J. Marcus, and A. Saunders, 2006, Earnings management, corporate governance, and true financial performance, Working paper, Boston College, 16-20.

Tian, L., 2001, Government shareholding and the value of China’s modern firms, Working paper, University of Michigan, 18-21.

Velury, U. and D. S. Jenkins, 2006, Institutional ownership and the quality of earnings, Journal of Business Research 59, 1043–1051.

Warfield, T. D., J. J. Wild, and K. L. Wild, 1995, Managerial ownership, accounting choices, and informativeness of earnings, Journal of accounting and economics 20, 61-91.

Wei, Z., F. Xie, and S. Zhang, 2005, Ownership structure and firm value in China’s privatized firm: 1991-2001, Journal of Financial and Quantitative Analysis 40, 10-20.

Wei, Z. and O. Varela, 2003, State equity ownership and firm performance: Evidence from China’s newly privatized firms, Global Finance Journal 14, 65-82.

Xu, X. and Y. Wang, 1999, Ownership structure and corporate governance in Chinese stock companies, China Economic Review 10, 75-98.

You, S. J., Y. C. Tsai, and Y. M. Lin, 2003, Managerial ownership, audit quality, and earnings management, Asia Pacific Management Review 8, 409-438.
論文全文使用權限
  • 同意授權校內瀏覽/列印電子全文服務,於2008-06-29起公開。
  • 同意授權校外瀏覽/列印電子全文服務,於2027-06-29起公開。


  • 如您有疑問,請聯絡圖書館
    聯絡電話:(06)2757575#65773
    聯絡E-mail:etds@email.ncku.edu.tw