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系統識別號 U0026-3108201915553700
論文名稱(中文) 投資人對新式查核報告書之反應:臺灣實證
論文名稱(英文) Market reaction to the expanded auditor's report: Evidence from Taiwan
校院名稱 成功大學
系所名稱(中) 會計學系
系所名稱(英) Department of Accountancy
學年度 106
學期 2
出版年 107
研究生(中文) 羅瑞騏
研究生(英文) Jui-Chi Lo
學號 R16051056
學位類別 碩士
語文別 中文
論文頁數 40頁
口試委員 口試委員-謝喻婷
口試委員-周庭楷
指導教授-林囿成
中文關鍵字 新式查核報告書  關鍵查核事項  資訊內涵  累積異常報酬波動  異常交易量 
英文關鍵字 market reaction  information content 
學科別分類
中文摘要 本文以2015-2016年臺灣上市櫃公司為研究樣本,探討臺灣在2016年適用新式查核報告書後,投資人是否認為新式查核報告書較傳統報告書更具資訊內涵,以及關鍵查核事項的數目及內容長度會不會影響查核報告之資訊內涵。本文以累積異常報酬波動及異常交易量作為資訊內涵的代理變數,期望能以價、量的觀點分別觀察查核報告資訊內涵的變動。研究發現採用新式查核報告書顯著提升異常交易量,說明以量的觀點,新式查核報告書的適用提升其資訊內涵。此外,關鍵查核事項數量與異常交易量呈顯著正相關,代表關鍵查核事項越多,查核報告的資訊內涵越高;然而本文沒有發現有任何證據支持關鍵查核事項內容長短與查核報告內涵有關。本文實證結果指出,目前臺灣投資人認為新式查核報告書是較傳統報告更具資訊價值的,且關鍵查核事項的數量也會影響投資人對資訊內涵的認知,但關鍵查核事項內容多寡與查核報告的資訊內涵量卻沒有顯著關係,本文推論可能是目前臺灣的新式查核報告書內仍存在標準話用詞,缺乏對特定公司或產業的描述,因此描述長短與資訊內涵並無絕對關係。本研究為臺灣推動新式查核報告法規之結果提供了一些實證的證據。
英文摘要 To enhance the informative value of the audit report, in 2016 Taiwan passed standards that change the structure of the audit report and require auditors to disclose key audit matters (KAMs). These changes have made a significant effect on Taiwan’s audit environment. This paper documents investor reaction to the report's public release in the years immediately before and after the new standards, along with the number and length of KAMs. This study uses the absolute value of the cumulative abnormal return and abnormal trading volume to measure investor responses, which represent the information content of audit report. The results show that there is no price reaction to the expanded report's public release, number, and length of KAMs. Further, the report's public release and the number of KAMs are associated with a significantly higher abnormal trading volume, but there is no volume reaction to the length of KAMs. These results suggest that the expanded audit report is more informative than the traditional one. Besides, the greater the number of KAMs, the more information there is present in the audit report.
論文目次 摘要…………………………………..………………………………………..I
Extended Abstract…………………………………………………………….II
誌謝…………………………………………………………………………..V
圖表目錄…………………………………………………………………...VII
第壹章 緒論………………………………………………………………….1
第一節 研究背景…………………………………………………………..1
第二節 研究動機與目的…………………………………………………..2
第貳章 文獻探討……………………………………………………………4
第參章 研究方法……………………………………………………………6
第一節 假說建立…………………………………………………………..6
第二節 研究設計與變數衡量……………………………………………10
第三節 樣本選取與資料來源……………………………………………19
第肆章 實證結果…………………………………………………………...22
第一節 敘述性統計………………………………………………………22
第二節 相關性分析………………………………………………………25
第三節 迴歸結果…………………………………………………………28
第四節 敏感性測試………………………………………………………33
第伍章 結論………………………...………………………………………34
第一節 研究結論…………………………………………………………34
第二節 研究限制與建議…………………………………………………35
參考文獻…………………………………………………………………….36

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