許文馨Hsu, Wen-Hsin臺灣大學:會計學研究所林耿民Lin, Keng-MinKeng-MinLin2010-05-052018-06-292010-05-052018-06-292009U0001-0906200910155500http://ntur.lib.ntu.edu.tw//handle/246246/179958本文旨在探討盈餘品質之於負債成本之評價效果是否會受到公司不同權益投資之影響。本研究以兩組變數分別衡量各公司之母子公司間投資程度以及大陸地區投資程度，並以其與盈餘品質衡量變數之交乘項與負債成本進行迴歸分析；本研究亦利用母公司報表以及合併報表之資料進行兩組平行測試。結果顯示無論在母公司層級或是合併個體層級，母子公司間投資程度較高之公司以及進行較多大陸投資之公司，其盈餘品質之於負債成本之評價效果將會更加明顯。This thesis would like to address whether the pricing of cost of debt on earnings quality would be affected by a firm’s equity investments. Self constructed measures in measuring parent-subsidiaries investment relationship and the percentage of investment in mainland China are applied to test the interaction relationship with earnings quality. Data from parent statements and consolidated statements are both obtained and form two parallel tests. The findings show that the negative relationship between earnings quality and cost of debt tend to be more pronounced in companies with more parent-subsidiaries investments and firms with relatively more investments in mainland China no matter in individual company level or consolidated level.Index:. Introduction 1. Literature review 6.1 Earnings quality 6.2 Earnings quality and cost of capital 8.2.1 Information risk 8.2.2 Pricing effect of earnings quality on cost of debt 9.2.3 Non-linear relationship betweenearnings quality and cost of capital 11. Hypotheses development 12. Research design 15.1 Earnings quality measurement 15.2 Equity investment measurement 17.2.1 Parent-subsidiaries investments 18.2.2 Investment in mainland China 20.3 Regression Model 22. Data construction and descriptive statistics 25. Research Results 27.1 Results for H1 27.2 Results for H2 28.3 Results for H3 28.4 Results for H4 31. Conclusions 31. Research limitations 32eferences 33ist of Tables:able 1 Data construction 36able 2 Descriptive statistics 39able 3 Correlation matrix 41able 4 Results of Test 1 44able 5 Results of Test 2 45able 6 Results of Test 3 46able 7 Results of Test 3(continued) 47able 8 Results of Test 3(continued) 48able 9 Results of Test 3(continued) 49able 10Results of Test 4 50application/pdf428159 bytesapplication/pdfen-US盈餘品質應計項目資金成本負債成本權益投資合併報表資訊風險Earnings qualityAccrualsCost of capitalCost of debtEquity InvestmentConsolidated statementInformation riskhttp://ntur.lib.ntu.edu.tw/bitstream/246246/179958/1/ntu-98-R96722013-1.pdf