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標題: 家族企業、董事會特性與穩健會計之關聯性
Family Control, Board of Director Characteristics and Accounting Conservatism
作者: 廖家卉
Liao, Chia-Hui
關鍵字: Family control;家族企業;Board independence;Accounting conservatism;董事會獨立性;會計穩健
出版社: 會計學研究所
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最近文獻指出企業大多數為家族型態,但卻很少有學者針對家族企業與會計穩健之關係進行研究。本研究探討台灣上市公司家族企業與穩健會計之關係,包括非條件式穩健及條件式穩健,並進一步分析董事會特性,包括董事會獨立性、董事會規模及董事長兼任總經理等特性,對家族企業會計穩健程度的影響。本研究採Givoly and Hayn’s (2000)之應計基礎觀點及Beaver and Ryan (2000)之市場基礎觀點,作為非條件式會計穩健之衡量。有關家族企業與條件式會計穩健之關係,則以Basu (1997)模型檢測盈餘反應訊息時效性不對稱程度衡量之。

A recent stream of literature shows that family control is central in most countries of the world, but little research exists regarding family control and accounting conservatism. The primary objective of this study is to examine the association between family control and accounting conservatism including unconditional conservatism and conditional conservatism. Furthermore, this study investigates whether family control has impacts on accounting conservatism after controlled the effect of the board of director characteristics, measured by board independence, board sizes and duality. This study measures unconditional conservatism by using Givoly and Hayn's (2000) accrual-based model and Beaver and Ryan's (2000) market-value based model. In regard to conditional conservatism this study uses Basu's (1997) asymmetric timelines of earnings model.
Using a sample of firms listed in Taiwan Stock Exchange over the 2007-2009 period this study performs the fixed-effect model and year-by-year annual regression to control unobservable firm characteristic and reduce the heterogeneity in different years and different firms. After controlling standard economic determinants of the level of accounting conservatism, e.g., institutional ownership, firm size, growth opportunities, cash flow, leverage, litigation risk and audit quality, the result shows that a negative relation between family control and unconditional conservatism, indicating family control structure is inclined to adopt less conservative accounting policies. This sudy also finds no significantly positive association between family control and asymmetric timeliness of earnings. However, the greater the proportion of independent directors of the company is, the board is more capable of overseeing the managements and diminishing window dressing the finance report. As a result, independent directors contribute to the early release of bad news, and would be able to respond bad news promptly to be conditional conservatism.
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