Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/24771
標題: 會計師保留意見之訊息內涵與市場反應
The Information Content of Qualified Opinions and the Reaction of Market
作者: 周浚甯
Chou, Chun-Ning
關鍵字: http://etds.lib.nchu.edu.tw/etdservice/view_metadata?etdun=U0005-0907201008515900;財務報表;審計報告;保留意見;訊息內涵;市場反應
出版社: 高階經理人碩士在職專班
引用: 一、中文文獻 1.李汎陞,2002,會計師保留意見對股價之增額資訊內涵,國立成功大學會計學系碩博士班碩士論文 2.李煥堂,1993,由累積異常報酬探討保留意見之資訊內涵,東吳大學會計學研究所碩士論文 3.吳碩然,2002,由累積異常報酬率探討修正式無保留意見之資訊內涵,國立成功大學會計學系碩士論文 4.周志龍,2003,會計師查核報告影響股價之研究,國立高雄第一科技大學財務管理所碩士論文 5.林耿步,1988,台灣證券市場上市公司保留意見審計報告所含資訊內容之研究,輔仁大學管理科學研究所碩士論文 6.項政,1998,會計師師查核意見、財務危機與股價反應之研究,國立中央大學企業管理研究所碩士論文 7.陳玫慧,2000,會計師簽發保留意見與股價報酬--台灣市場的實證,逢甲大學會計學研究所碩士論文 8.黃靖雅,2003,修正式無保留意見之資訊內涵-運用Ohlson模型,國立成功大學會計學系碩博士班碩士論文 9.楊孟萍,1994,審計品質對交易量影響股價研究,國立台灣大學會計學研究所碩士論文 10.楊孟萍,1999,會計師查核對半年報資訊價值影響之研究,國立台灣大學會計學研究所博士論文 11.賴永發,1996,由盈餘反應細數探討保留意見之資訊內涵,東吳大學會計學研究所碩士論文 12.羅經緯,2003,繼續經營假設與會計師查核意見之研究,國立台灣大學會計學研究所碩士論文 二、英文文獻 1.Ameen, E.C.,K. Chan, and D,M Guffey,1994,Information Content of Qualified Audit Opinion for Over-the Counter Firms,Journal of Business Finance and Accounting (October) 2.Baskin, E. F.,1972,The Communication Effectiveness of Consistency Exceptions,The Accounting Review (January) 3.Chow, C. W. and S. J . Rice,1982,Qualified Audit Opinion and Share Price-An Investigation,Auditing : A Journal of Practice and Theory (Winter) 4.Davis, R. R. ,1982,An Empirical Evaluation of Auditor,s Subject-to Opinions,Auditing : A Journal of Practice and Theory(Fall) 5.Dodd,,P.,N.Dopuch,R.W.Holthusen and R.W.Leftwitch,1984,Qualified Audit Opinion and Stock Price : Information Content , Announcement Date and Concurrent Disclosure,Journal of Accounting and Economics (April) 6.Dopuch, N., R. W. Holthausen and R. W. Leftwitch,1987,Predicting Audit Qualification with Financial and Market Variables,The Accounting Review (July) 7.Fields, L .P., and M. S .Wilkins,1991,The Information Content of Withdraw Audit Qualification : New Evidence on The Value of Subject-to Opinion,Auditing : A Journal of Practice and Theory (Fall) 8.Jones, F.,1996, The Information Content of The Auditor’s Going-Concern Evaluation,Journal of Accounting and Public Policy 9.Melumad,N.D.,and A..Ziv,1997,A Theoretical Examination of The Market Reaction To Auditor’s Qualifications,Journal of Accounting Research(Autumn)
摘要: 
過去上市櫃公司的利害關係人,大多使用由會計師出具之財務簽證報告來做財務比率分析,進而了解該公司經營良窳。然而財簽報告係歷史資料,欠缺即時性與機動性,待財簽報告出爐後,該公司股價是否早已反應,財務結構亦已產生變化。對其利害關係人而言,能否從其前期股價變動來觀測,及早作出因應措施,係本研究之主要目的。本文以民國97年12月以前台灣上市櫃公司為樣本,分析當年度會計師出具保留意見公司之股價變化,以季為觀察時間點,觀測其股價超額報酬率是否與一般公司有所差異。所得結論如下:
一、在審計報告基準日後180天,繼續經營假設有重大疑慮類型之保留意見仍具負面訊息內涵。
二、在審計報告簽發基準日後90天,各類型的保留意見均無訊息內涵。
三、在審計報告簽發基準日,會計方法及原則變更之保留意見具負面訊息內涵;繼續經營假設有重大疑慮之保留意見具負面訊息內涵。
四、在審計報告簽發基準日前90天,繼續經營假設有重大疑慮之保留意見具負面訊息內涵。
五、在審計報告簽發基準日前180天,部分採用其他會計師意見之保留意見具負面訊息內涵;繼續經營假設有重大疑慮之保留意見具正面訊息內涵。
六、在審計報告簽發基準日前270天,會計方法及原則變更之保留意見具負面訊息內涵;部分採用其他會計師意見之保留意見具正面訊息內涵。

Many company's stakeholders would use the financial reports which accountants signed in to do financial analysis or judge whether the company was good or not. But the financial report just reflects the company's situation of the past without contingency. The stock price and company's financial structure has already changed before financial report published. It's important for stakeholders to forecast the trend of stock price from the stock price during earlier days. This is the purpose of the study.
We use companies listed officially before Dec. 2008 with accountants' qualified opinions as samples, and analyzes their stock prices and more remuneration superior to standard by seasons. The conclusions are as follows:
1.The qualified opinion concerned company's proceeding has the negative impact during 180 days after financial report published.
2.Any type of the qualified opinions has no impact during 90 days after financial report published.
3.The qualified opinions were concerned about company's proceeding or due to changing of accounting principle or method has the negative impact during 180 days after financial report published.
4.The qualified opinion concerned company's proceeding has the negative impact during 90 days before financial report published.
5.During 180 days before financial report published, the qualified opinions due to changing of accounting principle or method have the negative impact but the qualified opinions concerned about company's proceeding have the positive impact.
6.During 270 days before financial report published, the qualified opinions due to changing of accounting principle or method have the negative impact but the qualified opinions due to adopting other accountants' qualified opinions have the positive impact.
URI: http://hdl.handle.net/11455/24771
其他識別: U0005-0907201008515900
Appears in Collections:高階經理人碩士在職專班

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