會計損益項目季別分析及其對市場反應之影響－台灣及美國銀行業比較研究

The main purpose of this study is to investigate the seasonal phenomenon of
interim income items and how managers’ manipulated seasonal phenomenon of quarterly reports
influence the investors’ interpretation of accounting information. Liu(1999) shows that the income
items in Taiwan banking industry exhibit seasonal differences. His results support the income-smoothing
hypothesis that since managers attempt to impart a smooth trend to annual earnings
number, managers usually make accounting end-of-year adjustments, including accrual items and
timing of transactions. In other words, earnings in the fourth quarter are susceptible to greater
management than those earnings in the other quarters because of managers’ discretion available under GAAP.