Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/18852
標題: 家族企業、財務主管異常更換及產業專家會計師與內部控制缺失之關聯性
The Association between Internal Control Weaknesses and Family Firms, CFO Turnover and Auditor Industry Specialization
作者: 楊宛凌
Yang, Wan-Ling
關鍵字: Family Firms;家族企業;CFO Turnover;Auditor Industry Specialization;Internal Control Weaknesses;財務主管異常更換;產業專家會計師;內部控制缺失
出版社: 會計學研究所
引用: 中文部分 天下雜誌編輯部,2010,華麗一族,天下雜誌,第462期(12月):124-130。 林穎芬與劉維琪,2003,「從高階主管薪酬的研究探討代理理論在台灣的適用性 ,管理學報」,第20卷,第2期:365-395。 許美滿、吳壽山、鍾惠民、林怡群,2004,「控制股東代理問題對公司價值之影響與舉債之監督效果分析」,會計與公司治理,第1卷,第2期:67-90。 葉銀華、李存修、柯承恩,2002,公司治理與評等系統,台北,商智文化事業股份有限公司。 葉銀華,2005,蒸發的股王:領先發現地雷危機,台北,智商文化事業股份有限公司。 蘇淑慧、呂倩如、金成隆,2009,「家族公司與盈餘品質關係之研究:所有權、管理權與控制權」,台大管理論叢,第15卷,第2期 :75-90。 蘇裕惠,1999,「會計師品牌聲譽、產業專家與審計品質之研究」,1999,AAA/TAA Global Conference。 英文部分 Altamuro, J. L., and A. L. Beatty. 2010. How does internal control regulation affect financial reporting?. Journal of Accounting and Economics. 49(1-2):58–74. Ashbaugh-Skaife, H., D. W. Collins, and R. LaFond. 2004. The effects of corporate governance on firms’ credit ratings. Journal of Accounting and Economics. 42(1-2 ):201-43. Ashbaugh-Skaife, H., D. W. Collins, W. R. Kinney Jr, and R. Lafond. 2009. The effect of SOX internal control deficiencies on firm risk and cost of equity. Journal of Accounting Research. 47(1):1-43. Ashbaugh-Skaife, H., D. W. Collins, and W. R. Kinney. 2007. The discovery and reporting of internal control deficiencies prior to SOX-mandated audits. Journal of Accounting and Economics. 44(1-2) :166-192. Baysinger, B., and R. E. Hoskisson. 1990. The composition of boards of directors and strategic control. Academy of Management Review. 15(1):72–87. Beasley, M. S., and K. R. Petroni. 2001. Board independence and audit firm type, Auditing: A Journal of Practice and Theory. 20(1): 97–114. Bedard, J. C., and L. Graham. 2011. Detection and severity classifications of Sarbanes-Oxley Section 404 internal control deficiencies. The Accounting Review. 86(3): 825–855. Behn, B. K., L. C. D. Hermanson, and R. H. Hermanson. 1997. The determinants of audit client satisfaction among clients of big 6 firms. Accounting Horizons. 11(1):7–24. Biggs, S. M. S., and G. Krupka. 1993. A computational model of auditor knowledge and reasoning processes in the going-concern judgment. Auditing: A Journal of Practice and Theory. 12(Supplement): 82–99. Chen, M. H. 2005. Group affiliation, identity of managers, and the relation between managerial ownership and performance. International Review of Financial Analysis. 14(5):533-558. Claessens, S., S. Djankov, and H. P. Lang. 2000. The separation of ownership and control in East Asian corporation. Journal of Financial Economics. 58(1-2): 81–112. Coates, J. C. 2007. The goal and promise of the Sarbanes-Oxley Act. Journal of Economic Perspectives. 21(2):91–116. Craswell, A. T., J. R. Francis, and S. L. Taylor. 1995. Auditor brand name reputations and industry specializations. Journal of Accounting and Economics. 20(3):297–322. DeFond, M., and J. Jiambalvo. 1991. Incidence and circumstances of accounting errors. The Accounting Review. 66(3):643–655. Deis, D. R., and G. A. Giroux. 1992. Determinants of audit quality in the public sector. The Accounting Review. 67(2):462–479. Doyle, J. T., W. Ge, and S. E. McVay. 2007. Accruals quality and internal control over financial reporting. The Accounting Review. 82(5):1141-1170. Fama, E. F. 1980. Agency problem and the theory of the firm. The Journal of Political Economy. 88(2): 288–308. Fama, E. F., and M. C. Jensen. 1983. Separation of ownership and control. Journal of Law and Economics. 26(2):301–326. Fan, J. H., and T. J. Wong. 2002. Corporate ownership structure and the informativeness of accounting earnings in East Asia. Journal of Accounting and Economics. 33(3):401–425. Feng, M., C. Li, and S. McVay. 2009. Internal control and management guidance. Journal of Accounting and Economics. 48(2-3):190–209. Flamholtz, E. 1995. Managing organizational transitions: implications for corporate and human resource management. European Management Journal. 13(1):39–51. Ge, W., M. Dawn., and J. L. Zhang. 2009. Do CFOs have styles of their own? An empirical investigation of the effect of individual CFOs on financial reporting practices. AAA 2009 Financial Accounting and Reporting Section (FARS) Paper . Ge, W., and S. McVay. 2005. The disclosure of material weaknesses in internal control after the Sarbanes-Oxley Act. Accounting Horizons. 19(3):137–158. Geiger, M. A., and D. S. North. 2006. Does hiring a new CFO change things? An investigation of changes in discretionary accruals. Accounting Review. 81(4): 781–809. Hamilton, J., and T. Trautmann. 2002. Sarbanes-Oxley act of 2002: Law and explanations . Chicago , IL: CCH Incorporated. Haw, I. M., B. B. Hu, L. S. Hwang, and W. Wu. 2004. Ultimate ownership, income management, and legal and extra-legal institutions. Journal of Accounting Research. 42(2):423–426. Hammersley, J. S., L. A. Myers, and C. Shakespeare. 2008. Market reactions to the disclosure of internal control weaknesses and to the characteristics of those weaknesses under section 302 of the Sarbanes Oxley Act of 2002. Review of Accounting Studies. 13(1):119–140. Hermalin, B. E., and M. S. Weisbach. 2003. Boards of directors as an endogenously determined institution: A survey of the economic literature. Economic Policy Review. 9(1):7–26. Hochberg, Y. V., P. Sapienza, and A. Vissing-Jorgensen. 2009. A lobbying approach to evaluating the Sarbanes Oxley Act of 2002. Journal of Accounting Research. 47(2): 519–583. Hogan, C. E., and D. C. Jeter. 1999. Industry specialization by auditors. A Journal of Practice and Theory. 18(1):1–17. Hoitash, R., U. Hoitash, and J. C. Bedard. 2008. Internal control quality and audit pricing under theSarbanes-Oxley Act. Auditing: A Journal of Practice and Theory 27 (2): 105–126. Ittonen, K. 2010. Investor reactions to disclosures of material internal control weaknesses. Managerial Auditing Journal. 25(3): 259-268. Kim, Y., and M. S. Park. 2009. Market uncertainty and disclosure of internal control deficiencies under the Sarbanes–Oxley Act. J. Account. Public. 28(5):419–445. Kinney, W. R., K. Jr, and L. S. McDaniel. 1989. Characteristics of firms correcting previously reported quarterly earnings. Journal of Accounting and Economics. 11(1): 71–93. Klamm, B. K., and W. M. Weidenmier. 2009. SOX 404 reported internal control weaknesses: A test of COSO framework components and information technology. Journal of Information Systems. 23(2) :1–23. Krishnan, J. 2005. Audit committee quality and internal control: an empirical analysis. The Accounting Review. 80(2):649–675. Kothari, S. P., S. Shu, and P. D. Wysocki. 2009. Do managers withhold bad news? Journal of Accounting Research. 47(1): 241–276. Lambert, R., C. Leuz, and R. E. Verrecchia. 2007. Accounting Information, Disclosure, and the Cost of Capital. Journal of Accounting Research.45(2): 385–420. Leone, A. J., S. Rock, and M. Willenborg. 2007. Disclosure of intended use of proceeds and under pricing in initial public offerings. Journal of Accounting Research. 45(1):111-153. Leuz, C., and P. D. Wysocki. 2008. Economic consequences of financial reporting and disclosure regulation: A review and suggestions for future research. MIT and University of Chicago working paper. Li, C., L. Sun, and M. L. Ettredge. 2010. Financial executive quality, financial executive turnover, and adverse SOX 404 opinions. Journal of Accounting and Economics. 50(1):93–110. Lopez, T. J., D. V. Scott, and Y. J. Wu. 2009. Investor perceptions of an auditor’s adverse internal control opinion. Journal of Accounting and Public Policy. 28(3):231–250. Morck, R. K., A. Shleifer, and R. Vishny. 1988. Management ownership and market valuation: An empirical analysis. Journal of Financial Economics. 20(1-2):293–315. Munsif, V., K. Raghunandan, D. V. Rama, and M. Singhvi. 2011. Audit fees after remediation of internal control weaknesses. Accounting Horizons. 25(1): 87–105. O''Keefe, T., R. King, and K. Gaver. 1994. Audit fees, industry specialization, and compliance with GAAS reporting standards. Auditing: A Journal of Practice and Theory. 13 (2): 41–55. Schneider, A. 2009. Auditors’ internal control opinions: do they influence judgments about investments ? Managerial Auditing Journal. 24(8):709–723. Shleifer, A., and R. Vishny. 1997. A survey of Corporate Governance. Journal of Finance. 52(2):737–783. Velury, U., J. T. Reisch, and D. M. O’Reilly. 2003. Institutional ownership and the selection of industry specialist auditors. Review of Quantitative Finance and Accounting .21 (1):35–48. Verrecchia, R. E. 2001. Essays of disclosure. Journal of Accounting and Economics. 32(1-3):97–180. Wang, D. 2006. Founding family ownership and earning quality. Journal of Accounting Research. 44(3):619-656. Wang, X. 2010. Increased disclosure requirements and corporate governance decisions: evidence from chief financial officers in the Pre- and Post-Sarbanes Oxley Periods. Journal of Accounting Research. 48(4) :885–920. Yeh, Y. H., and T. S. Lee. 2001. Corporate governance and performance: the case of Taiwan. The Seventh Asia Pacific Finance Association Annual Conference. Zhang, Y., J. Zhou, and N. Zhou. 2007. Audit committee quality auditor independence and internal control weaknesses. Journal of Accounting and Public Policy. 26(3) :300–327.
摘要: 
近年來,國外的恩隆與國內的博達等知名大型企業發生一連串之舞弊案件,凸顯企業內部控制未能發揮效用,促使沙氏法案及國內相關法令的修訂與規範。有鑑於內部控制為近年來頗受重視的議題,不論是企業界或金融界皆然,故本研究旨在探討法令修訂後,家族特性之企業、財務主管的異常更換及產業專家會計師對內部控制品質的影響。
本研究資料取自2002年至2010年間申請上市(櫃)公司的內部控制缺失建議書,本研究採Logistic迴歸分析,結果發現相較於非家族企業,家族企業的內部控制缺失可能性較高;若財務主管異常更換次數較多,則內部控制缺失可能性較高;聘請產業專家會計師查核的公司,其內部控制缺失可能性會較低。

In recent years, the scandals of Enron in America and Procomp in Taiwan among others show that the internal control system has not worked efficiently. This has catalyzed the enactment of the Sarbanes Oxley Act in America and numerous amendments of related regulations in Taiwan. Since such issue has been heavily discussed by the businesses or the financial community. The purpose of the study is therefore to investigate the association between internal control weakness and family firms, CFO turnover and auditor industry specialization.
Data were collected from the prospectuses of the listed companies (including OTC companies) in Taiwan Stock Exchange from 2002 to 2010. The prospectuses disclosed suggestions for internal control weaknesses for three years prior to being listed. The Logistic regression is adopted to test the hypotheses. The empirical results indicate that, compared to non-family firms, family firms have a higher possibility of having internal control weaknesses. The relation between the unusual CFO turnover and the lack of adequate internal control is positive. However, the relation between companies hiring industry specialist auditors and internal control weaknesses is significantly negative.
URI: http://hdl.handle.net/11455/18852
其他識別: U0005-2706201120045900
Appears in Collections:會計學系所

Show full item record
 

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.