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標題: 衍生性商品交易是否影響盈餘管理決策? 以不同承作動機來探討
Does the Use of Derivatives Affect Earnings Management Decision? The Examination of the Difference in Motivation
作者: 陳俊合
關鍵字: 基礎研究;Earnings Management;經濟學;盈餘管理;衍生性商品;裁決性應計項目;避險;交易目的;Derivatives;Discretionary accruals;Hedging;TradingPurpose
相對於先前研究,僅考慮損益平滑化動機下,衍生性商品與裁決性應計項目存在替代關係,然而盈餘管理決策並不盡然一定為損益平滑化,經理人也可能基於自利動機,而透過盈餘管理以擴大盈餘波動,因此本研究區分交易目的與避險目的之衍生性商品交易來測試其與盈餘管理決策之關聯,使用聯立方程式與兩階段最小平方法,探討此兩種盈餘管理工具之關聯性。此外,相對於先前研究,本研究採用Kothari, Leoneand Wasley 所提出加入考慮績效變數的裁決性應計項目估計模型,相對於先前Jonesmodel 以及modified Jones model,其估計模型檢定力較佳。

Prior studies found that there is a substitute relation between the magnitude ofderivatives and discretionary accruals under income smoothing motivation. This studyconsiders another motivation on earnings management, i.e. enlarge earnings volatility. Hence,this study re-examines the relationship between the magnitude of derivatives anddiscretionary accruals that distinguishes the use of derivatives into trading purpose andhedging purpose. The study uses simultaneous equation and two stages least square to explaintheir relations. In contrast prior studies, this study uses the discretionary accruals model withperformance measures raised by Kothari, Leone and Wasley which has better power of testthan Jones model and modified Jones model.
其他識別: NSC98-2410-H005-011
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