高科技產業之盈餘管理行為與資訊內涵研究
Other Title
An Analysis of Earnings Management Behavior and Its
Information Content – Evidence of Hi-Tech Industry in Taiwan
Information Content – Evidence of Hi-Tech Industry in Taiwan
Date Issued
2001
Date
2001
Author(s)
DOI
892416H002064
Abstract
This study examines the earnings management
behavior and its information content of electronics
firms listed in Taiwan Stock Exchange for the period
of 1990-2000. Non-electronics firms as a group in the
same period were also investigated for comparison
purpose. Discretionary accruals were regarded in this study as a tool for earnings management.
While examining the earnings distribution, this
study found that firms manage reported earnings to
avoid losses. In particular, the finding indicated
unusually low frequencies of small losses and
unusually high frequencies of small positive earnings.
As to the factors that influence the discretionary
accruals, this study showed a significantly negative
association between income before discretionary
accruals and the extent of earnings management. This
study, however, did not document the evidence that
corporate governance mechanism mitigated the
earnings management behavior. Interestingly, this
study found that firms with poorer earnings (the lower
ten percentile) tend to manage earnings upward, which
is inconsistent with the big bath phenomenon reported
in some previous studies. Overall, both electronics and
non-electronics firms were found to have similar
earnings management behavior, although
non-electronics firms seemed to manipulate more
aggressively. Lastly, this study provided evidence on
the value relevance of non-discretionary accruals and
discretionary accruals.
Subjects
Electronics industry
earnings distribution
earnings management
information content
discretionary accruals
Publisher
臺北市：國立臺灣大學會計學系暨研究所
Type
report
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