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標題: 盈餘時效性不對稱與公司獲利能力關係之探討
The Effect of Asymmetric Timeliness of Earnings On Firm Profitability
作者: 陳語涵
Chen, Yu-Han
關鍵字: 盈餘時效性不對稱;Asymmetric timeliness of earnings;條件穩健;獲利能力;毛利率;營業活動現金流量;conditional conservatism;profitability;profit margin;cash flows from operation
出版社: 高階經理人碩士在職專班
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本研究係以2005年至2008年臺灣上市公司為研究樣本,採用Basu (1997)盈餘時效性不對稱之模型來探討條件穩健與公司獲利能力之關係,有關獲利能力之衡量係採用毛利率及營業活動現金流量兩項績效指標。


Asymmetric timeliness of earnings, conditional conservatism, is a traditional accounting policy. Timely loss recognition can reduce information asymmetry, avoid managers from undertaking negative net present value projects, help firms obtain external funds at lower costs and increase investment opportunities. Conditional accounting conservatism can improve investment efficiency therefore improve firm’s future profitability. Because investment efficiency is not directly observable, this study examines the relation between timely loss recognition and future profitability to draw inferences about the impact of conditional conservatism on investment efficiency.

Using a sample of firms listed in Taiwan Stock Exchange over the 2005 to 2008 period, this study uses Basu’s (1997) asymmetric timeliness of earnings model to measure conditional conservatism. This study uses two proxies, profit margin and cash flows from operation, to measure firms’ profitability.

The empirical results show that asymmetric timeliness of earnings is positive association with profit margin and cash flows from operation subsequent to investment decisions. This study suggests that timely loss recognition can improve firms future profitability, which indirectly exhibits that conditional conservatism can improve investment efficiency.
其他識別: U0005-1708201310345500
Appears in Collections:高階經理人碩士在職專班

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