劉啟群2006-07-262018-06-292006-07-262018-06-292000http://ntur.lib.ntu.edu.tw//handle/246246/18384本研究係檢視會計資訊(包括資產負債表及損益表)中有關資本結構及資產結構可如何運 用於評估企業風險並有助於股價之決定。財務風險與企業財務政策有關，而財務風險即 反應該資金來源政策之結果，有關財務風險之會計資訊可透過資產負債表(負債比率)或 損益表(如利息費用相關資料)評估，然而，實際上，此兩種不同之財務風險衡量是否有 差異，尚未有學者探討。同理，營運槓桿之風險亦可透過資產負債表(如固定資產資訊) 或損益表 (如固定營業費用)加以評估。因此，本文不僅實證分析會計資訊資本及資產結 構之風險內涵，亦提供比較資產負債表及損益表衡量風險之優劣。The purpose of this study is to examine how accounting information about asset and capital structures and their changes can be employed to evaluate firm risk (i.e., total risk and systematic risk) and equity valuation. The main results of this paper are summarized as follows: As financial leverage increases, other things being equal, both the overall and systematic risk of the stock‘s return increases, and the regression coefficients of earnings on a stock‘s market value and return decreases. Furthermore, B/S and I/S measures of financial leverage have differential explanatory power in risk and equity value regressions. As operating leverage increases, other things being equal, both the overall and systematic risk of the stock‘s return increases, and the regression coefficients of earnings on a stock‘s market value and return decreases. In addition, B/S and I/S measures of operating leverage have differential explanatory power in risk and equity value regressions.application/pdf31608 bytesapplication/pdfzh-TW國立臺灣大學會計學系暨研究所風險資訊內涵資本結構資產結構reporthttp://ntur.lib.ntu.edu.tw/bitstream/246246/18384/1/892416H002030.pdf