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系統識別號 U0026-0812200914093583
論文名稱(中文) 股權集中度與盈餘品質之關聯性研究-以中國大陸上市公司為例
論文名稱(英文) The influence of ownership concentration on earnings quality: Evidence of Chinese listed firms
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 96
學期 2
出版年 97
研究生(中文) 楊絢斐
研究生(英文) Hsuan-Fei Yang
電子信箱 r8695405@mail.ncku.edu.tw
學號 r8695405
學位類別 碩士
語文別 中文
論文頁數 68頁
口試委員 口試委員-吳志正
口試委員-陳政芳
指導教授-邱正仁
中文關鍵字 股權集中度  國有控股  股權結構  盈餘品質 
英文關鍵字 ownership structure  earnings quality  concentration ownership  state-owned ownership 
學科別分類
中文摘要 本研究係探討中國大陸之股權集中度、國有控股等股權結構特性與公司盈餘品質之關聯性。以中國大陸上海及深圳證券交易所上市公司為樣本,檢測期間為1998年至2006年,在刪除不符合篩選條件之資料後,總計共擷取7,836筆公司年樣本資料。
本研究實證結果顯示,當公司控制股東為國有股東時,盈餘品質顯著優於非國有控股公司,顯示國有控股與盈餘品質為正向關係。此外,當公司控制股東為國有股東且公司股權集中時,股權集中度與公司盈餘品質則為顯著負相關,顯示對國有控股公司而言,股權集中會導致公司盈餘品質低落。因此,本研究發現中國大陸上市公司之高度股權集中以及國有控股的股權結構特性與公司盈餘品質確實存在關聯性,而且國有控股公司之股權集中度愈高,公司盈餘品質愈差。
英文摘要 This paper examines the influence of ownership concentration and type of controlling shareholder on earnings quality for Chinese listed firms. Ownership concentration and firm controlled by state are used to measure firm’s ownership structure. My sample consists of the firms listed on the Shanghai and Shenzhen Stock Exchange during the period of 1998 to 2006. After deleting observations with missing data, final samples have 7,836 firm-years.
The empirical results show that state-controlled shareholder has significantly positive relationship with earnings quality. Corporations controlled by state have better earnings quality than corporations not controlled by state. In addition, the empirical results also show that concentration ownership has significantly negative relationship with earnings quality. Corporations controlled by state and have high concentration ownership tend to have a low-level earnings quality. Therefore, our results show that ownership concentration and controlled shareholder significantly have influence on earnings quality for Chinese listed firms.
論文目次 第壹章 緒論…………………………………………………………………………1
第一節 研究動機與背景………………………………………………………… 1
第二節 研究目的………………………………………………………………… 3
第三節 股權結構與盈餘品質關聯之理論基礎………………………………… 5
第四節 研究流程與論文架構…………………………………………………… 7
第貳章 文獻探討…………………………………………………………………… 9
第一節 盈餘品質文獻回顧……………………………………………………… 9
第二節 股權結構與盈餘品質關聯文獻回顧…………………………………… 24
第參章 中國大陸股權結構概況以及審計市場介紹……………………………… 29
第一節 中國大陸股權結構介紹………………………………………………… 29
第二節 中國大陸審計市場介紹………………………………………………… 33
第肆章 研究方法…………………………………………………………………… 34
第一節 研究架構………………………………………………………………… 34
第二節 研究假說………………………………………………………………… 35
第三節 研究樣本與資料來源…………………………………………………… 37
第四節 實證模型設計…………………………………………………………… 39
第五節 研究變數定義與衡量…………………………………………………… 41
第伍章 實證結果與分析…………………………………………………………… 48
第一節 敘述性統計及相關分析………………………………………………… 48
第二節 實證迴歸分析…………………………………………………………… 53
第陸章 結論與建議………………………………………………………………… 57
第一節 研究結論………………………………………………………………… 57
第二節 研究限制與後續研究建議……………………………………………… 60
參考文獻…………………………………………………………………………… 61
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