許文馨Hsu, Wen-Hsin臺灣大學:會計學研究所楊宜華Yang, Yi-HuaYi-HuaYang2010-05-052018-06-292010-05-052018-06-292009U0001-2207200910550200http://ntur.lib.ntu.edu.tw//handle/246246/180000本研究主要目的在探討管理階層是否會利用損益表內項目之分類進行盈餘管理。本文以McVay（2006）一文為研究架構，先說明損益表內盈餘組成項目之分類，檢視管理階層是否將核心費用移轉至特殊項目，此種將費用於損益表內垂直移動的方式，並不會改變淨利，但卻會造成誇大「核心」盈餘的效果，進而達成盈餘管理的目的。特殊項目之屬性為不常發或是性質特殊，本研究根據文獻及分析師報告發現，對於盈餘的定義及預測方面無論學者或是分析師通常有排除特殊項目的傾向，管理階層於是利用財務報表使用者此種認知進行盈餘管理。 因此本研究以1997年至2006年之上市、上櫃公司為研究對象，先探討盈餘在排除特殊項目後對台灣資本市場之影響，測試特殊項目前盈餘與股票報酬間是否存有顯著關聯性。再來以排除特殊項目後的盈餘為核心盈餘，測試未預期之特殊項目前盈餘是否會與負特殊項目呈現負相關，表示經理人可能將費用垂直式的移動至特殊項目裡，虛增特殊項目前盈餘。並且未預期特殊項目前盈餘將會在下一年度迴轉，因為前一年度之未預期核心盈餘之增加是盈餘管理的一次性活動所造成，所以下一年度之未預期特殊項目前盈餘會與當年度之負特殊項目呈現正相關。 實証結果與假說一致，未預期特殊項目前盈餘增加，顯示管理階層會策略性地將核心費用移轉至特定項目下，造成特殊項目前盈餘的高估。結果也顯示未預期特殊項目前盈餘與當年度負特殊項目一同增加時，下一年度之未預期特殊項目前盈餘會迴轉，證實當年度之未預期特殊項目前盈餘之增加僅為一次性的盈餘管理所造成。This study documents the earnings subtotal that is the most value relevant and is perceived as core earnings by investors in Taiwan. I would then examine whether the firm manipulates core earnings by misclassifying losses (gains) items from the above to the below of the earnings subtotals. According to previous studies and the analysts report about earnings measures, I predict that continuing operating income before tax and special items (PRESI) has the highest explanatory value for share return. My results are consistent with my hypothesis and showing operating income before tax and special items (PRESI) is valued as core earnings in Taiwan. Following McVay (2006), I posit that managers tend to inflate operating income before tax and special items (PRESI) by shifting the expenses to special items and increasing both operating income before tax and special items (PRESI) and negative special items. The results in my study provide evidence that firms strategically use special items to increase their operating income before tax and special items (PRESI). I also find unexpected operating income before tax and special items reverses the subsequent year after a firm reports special items, indicating the use of special items to increase operating income before tax and special items (PRESI) is a one-time event. The results are consistent after controlling for firm characteristics.Contents試委員會審定書...................................... i謝..................................................ii文摘要.............................................iiibstract..............................................ivontents...............................................vables...............................................vii. Introduction........................................1I. Literature Review..................................4.1 Literature Review on the Information Content of Earnings Subtotals .....................................4.2 Literature Review on Earnings Management through Classification Shifting................................6II. Hypotheses Development...........................10.1 Identifying Core Earnings.........................10.2 Classification Shifting between Continuing Operation Income before Tax and Special Items (PRESI) and Special Items.................................................12V. Research Design...................................14.1 Sample Selection..................................14.2 Empirical Model for Identifying Core Earnings.....15.3 Empirical Model for Classification Shifting.......17.3.1Measuring Expected Continuing Operating Income before Tax and Special Items (PRESI).........................17.3.2 Regression Model for Examining Classification Shifting between Continuing Operating Income before Tax and Special Items (PRESI)and Special Items................19.3.3 Regression Model for Examining Classification Shifting between Continuing Operating Income before Tax and Special Items (PRESI)and Special Items after Controlling Firm Characteristics..................................20.Empirical Results...................................22.1 Descriptive Statistics............................22.2 Regression Analyses...............................23.2.1 Empirical Results of Hypothesis 1...............23.2.2 Empirical Results for Hypothesis 2..............25.2.3 Empirical Results of Hypothesis 2 after Controlling Firm Characteristics..................................27I.Conclusion.........................................29eference .............................................31ablesable 1 Components of income..........................35able 2 Sample Selection..............................36able 3 Descriptive Statistics of Variables in ypothesis 1..........................................37able 4 Descriptive Statistics of Variables in ypothesis 2..........................................38able 5 Pearson / Spearman Correlation Matrix.........40able 6 Regression of Information Content of Earnings Subtotals.............................................42able 7 Regression of Expected PRESI – Levels........43able 8 Regression of Expected PRESI– Change.........44able 9 Regression of Unexpected PRESI and Future Unexpected Change in PRESI............................45able 10 Regression of Unexpected PRESI and Future Unexpected Change in PRESI with Control Variables.....46application/pdf356918 bytesapplication/pdfen-US分類移轉特殊項目損益表盈餘管理核心盈餘classification shiftingearnings subtotalsspecial itemsearnings managementcore earningshttp://ntur.lib.ntu.edu.tw/bitstream/246246/180000/1/ntu-98-R96722044-1.pdf