洪茂蔚2006-08-232018-06-292006-08-232018-06-292005http://ntur.lib.ntu.edu.tw//handle/246246/29264行為財務與會計研究可追溯至1960 年代，然國內行為財務與行為會計之學術研究才剛萌 芽。為促進行為財務與會計之研究成果，本整合型研究結合了對行為會計與行為財務及相關 領域之學者形成一持續性、積極性研究合作團隊。整合型計畫總共執行有14 分項子計畫，14 項子計畫之研究成果總結如下。 本整合型計畫主要分成四大子題：(1)行為財務－資產評價子題、(2)行為財務－投資決 策子題、(3)行為財務－公司決策子題、以及(4)行為會計子題。在資產評價子題中，子計畫 1, 7 與13 分別從投資人在避險行為、資產訂價行為以及購屋行為三個角度探討行為財務理論 在這些決策行為上的效果。在投資決策子題中，子計畫3, 4 和14 從投資人行為的角度出發， 分別透過分析師推薦資訊、公司股票股利發放來源、以及跨國市場資訊溢流三種訊息的角 度，觀察投資人對於資訊的認知與行為反應的態樣。在公司決策子題中，子計畫5, 8, 10 和13 分別從公司理財研究中經常被討論到的庫藏股宣告、海外融資、追蹤股票發行、以及閉鎖期 滿四種事件的現象，透過行為財務理論為公司決策以及投資人對以上事件認知與解讀過程， 提出更清楚的解釋與探討。在行為會計子題中，子計畫2, 6, 9,和11 分別從審計獨立性與分析 師行為二大部分，透過行為理論分析在提供市場中介資訊的分析師與稽核者的決策考量過程 及對於資訊的影響，對於未來法規制度與會計原則的修訂提供相當地政策參考的意涵。以上 研究除可奠定國內在行為財務與會計研究基礎及成果外，同時可提升市場的效率性。Although the research on behavioral finance and accounting has been started from 1960, it is still a new and emerging area in Taiwan. To promote the field of behavioral finance and accounting it is very important to build up an organized and long-term cooperative research team on this field by organizing an integrated project. There are 14 projects conducted in this integrated project. The detailed summaries of the 14 projects are summarized in this report. There are four issues covered in this integrated project, including (1) behavioral assets pricing, (2) behavioral investing, (3) behavioral corporate finance, and (4) behavioral accounting. Regarding behavioral assets pricing, projects 1, 4 and 13 are focus on the hedging decisions of investors, asset pricing and housing decisions. Projects 3, 4, and 14 concentrate on investment decisions by studying investors’ perceptions and reactions on analysts’ recommendations, the source of stock dividends and international information spillover, respectively. As to behavioral corporate finance, projects 5, 8, 10, and 13 utilize behavioral theory to clarify manager’s decision making and investors’ opinions on four corporate events, including stock repurchases, oversea financing decisions, tracking stock IPOs, and lockup expirations, respectively. There are four projects on behavioral accounting (projects 2, 6, 9, and 11). They analyze the behaviors of securities analysts and auditors to provide the implications of better designs on market regulations. All of the researches mentioned above may enhance our understanding of market efficiency and behavioral finance.application/pdf344247 bytesapplication/pdfzh-TW國立臺灣大學國際企業學系暨研究所行為財務行為會計Behavioral FinanceBehavioral Accountingreporthttp://ntur.lib.ntu.edu.tw/bitstream/246246/29264/1/922416H002047EF.pdf