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標題: 內部人交易與盈餘管理之選擇行為
The Impacts of Insider Trading on the Choice of Earnings Management
作者: Pin-An Chen
關鍵字: Accruals-based earnings management
Real earnings management
Classification shifting
Insider trading
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摘要: The sample companies are obtained from 2000 to 2012. The purpose of this study is to examine the managers' choice between classification shifting, accruals-based earnings management, and real earnings management. Additionally, We also shed light on the link between insider trading and the choice of earnings management. We create dummy variables (NITB and NITS) from the net insider trading ratio, and test the impacts of insider trading on the choice of earnings management. The empirical results show that if the company has the motivation to manage its earnings, it will use multiple methods simultaneously. In addition, insider trading affects the company manager to make decisions. The company with insider trading will prefer to use various earnings management. When the choice of classification shifting is impeded, the results show that (1) accruals-based earnings management is affected by insiders' net purchases and net sales, and that (2) real earnings management is affected by insiders' net purchases and net sales. When the choice of accruals-based earnings management is restricted, real earnings management is affected by insiders' net purchases and net sales
本研究以2000至2012年台灣上市櫃公司為樣本。探討內部人交易對於管理當局利用分類變動、應計項目盈餘管理、實質盈餘管理這三種盈餘管理是否產生影響,並分別討論出現內部人淨買入交易(NITB)以及內部人淨賣出交易(NITS)對盈餘管理選擇行為的影響。 實證結果發現,出現內部人淨買入股票的企業,增加利用分類變動盈餘管理、應計項目盈餘管理以及實質盈餘管理的程度較高。在分類變動受限的情況下,出現內部人淨買入的企業,增加利用應計項目及實質盈餘管理的程度較高,而在應計項目盈餘管理受限的情況下,出現內部人淨買入的企業,增加利用實質盈餘管理的程度較高。 而出現內部人淨賣出的企業,會影響利用分類變動盈餘管理、應計項目盈餘管理及實質盈餘管理的程度。在分類變動受限的情況下,出現內部人淨賣出持股的企業,會影響利用應計項目及實質盈餘管理的程度。在應計項目盈餘管理受限的情況下,出現內部人淨賣出的企業,會影響利用實質盈餘管理的程度。
文章公開時間: 10000-01-01
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