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標題: 內部人持股對企業撤銷公開發行會計資訊品質之影響
The Association between insider ownership and accounting information quality: Evidence from the going private firm
作者: 田巧萍
Tien, Chiao-Ping
關鍵字: Going private firm
Insider ownership
Capital cost
Earnings variability
出版社: 會計學研究所
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摘要: 本論文目的係檢測內部人持股比例是否會影響,撤銷公開發行公司的會計資訊品質,本研究以盈餘變異性作為會計資訊品質的替代變數,同時本研究亦進一步探討對資金成本的影響。本研究的實證結果顯示,在撤銷公開發行後,公司的資金成本及盈餘變異性普遍會較撤銷公開發行前高。另外,在撤銷公開發行後,內部人持股比例較高(低)的公司,能降低企業的資金成本及盈餘變異性。亦即公司已撤銷公開不受市場監督,但只要企業的內部人持股比例較大,則仍將可以提昇公司會計資訊品質,並降低資金成本。
In November 2001, The Taiwan SEC repeals mandatory going public regulations. After 2001, the firms in Taiwan had been required to go public if their capital exceeds 200 million NT dollars. The main purpose of this dissertation is to investigate the association between insider ownership and accounting information quality for the going private firm. This study is also further to explore the impact on the cost of capital of going private firm. After the deregulation of mandatory going public, this study indicated the going private company with higher earnings variability and cost of capital. Also, after the deregulation of mandatory going public, the firm with higher insider ownership is lower capital cost and earnings variability than those with lower insider ownership. Although there are advantages for supervise of going public firm, but they devote to the promotion company accounting quality by higher insider ownership. The enterprise still has the good development opportunities and doesn't prone to the drawbacks when it lacks of supervision of the open market.
其他識別: U0005-1706200915542600
Appears in Collections:會計學系所



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