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系統識別號 U0026-2507201415474400
論文名稱(中文) 公司採用IFRS後是否可影響過度投資行為?以台灣上市櫃公司為例
論文名稱(英文) Does Mandatory Adoption of International Financial Reporting Standards Influence Over-Investment Behavior? Evidence from Taiwan Listed Companies
校院名稱 成功大學
系所名稱(中) 財務金融研究所碩士在職專班
系所名稱(英) Graduate Institute of Finance (on the job class)
學年度 102
學期 2
出版年 103
研究生(中文) 余建畿
研究生(英文) Chien-Chi Yu
學號 R87001228
學位類別 碩士
語文別 中文
論文頁數 52頁
口試委員 召集委員-黃華瑋
指導教授-陳政芳
口試委員-陳嬿如
中文關鍵字 國際會計準則  過度投資 
英文關鍵字 IFRS  Over-investment 
學科別分類
中文摘要 為因應全球經濟自由化及降低企業跨國籌資門檻,全球各地紛紛直接採用國際會計準則(International Financial Reporting Standards,以下簡稱IFRSs)或間接以IFRSs作為準則制定的依據,希冀全球各國能有一致的會計規範,以增加跨國報表之可比較性、改善資訊透明度、降低資訊成本及不對稱及促進資本市場的效率。而究竟直接採用IFRSs後是否能提升財務報表品質、降低盈餘管理及過度投資等議題,早已產生許多爭論,分為正反兩大立論。有學者研究發現,歐盟部分國家從既有的會計準則(Local GAAP)轉換到IFRSs,確實能提升會計品質,透過及時認列減損損失可有效抑制過度投資;惟另一派學者研究發現,德國部分高科技企業從原本適用US GAAP轉換為IFRSs後,盈餘管理增加、認列較少減損及降低了價值攸關性。
我國於西元2013年正式採用IFRSs作為上市、上櫃公司編製財務報表之會計準則,此政策改變將如何影響我國企業管理者的投資行為,乃本研究關注的重點。故本研究蒐集IFRSs實施前三年到後一年(2010年至2013年)的上市、上櫃公司樣本資料,援引國外學者衡量過度投資之模型設計,進行迴歸分析以探討我國採行IFRSs一年後,對於企業過度投資不動產、廠房及設備的決策是否產生影響。
本研究結果發現,IFRSs實施一年後,我國上市、上櫃公司及電子產業仍有顯著過度投資不動產、廠房及設備的跡象,而化工產業具同樣趨勢但不顯著,顯示我國直接採用IFRSs一年後似未達成減少過度投資的預期效益。
英文摘要 Due to the coming of global economic liberalization, reducing of cross-border financing barriers and making a consistent accounting standards, countries around the world gradually adopt IFRSs directly or make their own GAAP in accordance with IFRSs to facilitate cross-border comparability, increase transparency of financial statements, decrease costs of information, reduce information asymmetry and thereby enhance the competition and efficiency of capital markets. There are two debates on whether the adoption of IFRSs could enhance accounting quality, reduce earnings management and over-investment. Prior research finds that over-investment in PPE is lower following IFRSs adoption among EU firms which used to adopt historical cost accounting with impairment testing (Local GAAP) before IFRSs adoption, consistent with that EU firms have more timely loss recognition for PPE under IFRSs strict impairment rules. However, other research finds that German high-tech firms that transitioned to IFRSs from US GAAP in 2005 (called switching firms) generally show more earnings management, less timely loss recognition, and less value relevance compared to those under US GAAP. To solve the debate, this study investigates how the IFRSs adoption affects the investment decision of managements. By using the listed companies in Taiwan which formally adopted IFRSs in 2013, I find that after the adoption of IFRSs, over-investment in capital expenditures is significantly higher, especially in the electronic industry with multiple linear regression analysis. In contrast, the over-investment is less severe in chemical industry. The results indicate that the adoption of IFRSs doesn’t reach the expected benefits in reducing over-investment for most listed companies.
論文目次 目錄
第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 5
第三節 研究流程 6
第四節 研究架構 8
第二章 文獻探討 9
第一節 相關文獻 10
第二節 假說發展 17
第三章 研究方法 19
第一節 衡量過度投資 19
第二節 研究模型設計與變數說明 21
第三節 資料來源與樣本選取 24
第四章 實證結果分析 26
第一節 敘述性統計 26
第二節 假設驗證 30
第五章 結論與建議 40
第一節 結論 40
第二節 研究限制與建議 42
參考文獻 46
附錄:變數定義 51
參考文獻 一、網站
台灣證券交易所網站 國際會計準則 IFRS 專區:http://www.twse.com.tw
中華民國會計研究發展基金會:http://ww.ardf.org.tw
IASB.org : http://www.iasb.org
郭堯 2013中國會計視野/ IFRS十年,實施效果如何- 來自各方的聲音及對未來研究方向的建議
http://app.news.esnai.com/?app=system&controller=esnai&action=wapcontent&cid=96285

二、中文文獻
林育正,2010。我國 IFRS 導入之市場反應。國立政治大學會計學系碩士論文。
林佳怡,2010。企業盈餘管理:中國會計準則與國際會計準則之比較。中原大學會計學系碩士論文。
張介銘,2013。實質盈餘管理對發展成本資本化及價值攸關性之影響探討-以中國案例為研究對象。東吳大學會計學系碩士論文。
曾科筌,2012。國際會計準則轉換與盈餘管理之關聯性研究。中原大學會計學系碩士論文。

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