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題名 股權結構，盈餘保守性和信用評等關係之研究 作者 林美鳳;金成隆;林良楓
Lin, Mei-Feng ; Chin, Chen-Lung ; Lin,Liang-Feng貢獻者 會計系 關鍵詞 公司治理 ; 會計保守 ; 信用評等 ; Corporate governance ; Accounting conservatism ; Credit ratings 日期 2009.12 上傳時間 3-Nov-2014 17:27:35 (UTC+8) 摘要 The primary objective of this study is to examine the association between firm ownership structure, measured by the divergence between the ultimate owners` voting and cash flow rights, the directors affiliated with controlling owners, and the collateralized stock by controlling owner, and the extent to which firms adopt conservative accounting. Secondly, we also examine whether a company employing more conservative accounting is likely to have a higher credit rating. We Apply Givoly and Hayn`s (2000) accrual basis model and Basu`s (1997) asymmetric timelines of earnings model, respectively, finding that the greater divergence between the ultimate owners` voting and cash flow rights, the higher ratio of directors affiliated with the controlling owners, and the greater ratio of collateralized stock by the controlling owner the less conservative accounting employed, as predicted. Furthermore, we also find that credit ratings are positively associated with the extent to which firms use conservative accounting. Our findings provide strong support for the notion that firm ownership structure is a critical determinant of firm earnings quality in term of incorporating bad news on a timely basis, and accounting conservatism plays a major role in enhancing firm credit ratings. 關聯 台大管理論叢,20(1),289-333 資料類型 article dc.contributor 會計系 en_US dc.creator (作者) 林美鳳;金成隆;林良楓 zh_TW dc.creator (作者) Lin, Mei-Feng ; Chin, Chen-Lung ; Lin,Liang-Feng en_US dc.date (日期) 2009.12 en_US dc.date.accessioned 3-Nov-2014 17:27:35 (UTC+8) - dc.date.available 3-Nov-2014 17:27:35 (UTC+8) - dc.date.issued (上傳時間) 3-Nov-2014 17:27:35 (UTC+8) - dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/71071 - dc.description.abstract (摘要) The primary objective of this study is to examine the association between firm ownership structure, measured by the divergence between the ultimate owners` voting and cash flow rights, the directors affiliated with controlling owners, and the collateralized stock by controlling owner, and the extent to which firms adopt conservative accounting. Secondly, we also examine whether a company employing more conservative accounting is likely to have a higher credit rating. We Apply Givoly and Hayn`s (2000) accrual basis model and Basu`s (1997) asymmetric timelines of earnings model, respectively, finding that the greater divergence between the ultimate owners` voting and cash flow rights, the higher ratio of directors affiliated with the controlling owners, and the greater ratio of collateralized stock by the controlling owner the less conservative accounting employed, as predicted. Furthermore, we also find that credit ratings are positively associated with the extent to which firms use conservative accounting. Our findings provide strong support for the notion that firm ownership structure is a critical determinant of firm earnings quality in term of incorporating bad news on a timely basis, and accounting conservatism plays a major role in enhancing firm credit ratings. en_US dc.format.extent 1400135 bytes - dc.format.mimetype application/pdf - dc.language.iso en_US - dc.relation (關聯) 台大管理論叢,20(1),289-333 en_US dc.subject (關鍵詞) 公司治理 ; 會計保守 ; 信用評等 ; Corporate governance ; Accounting conservatism ; Credit ratings en_US dc.title (題名) 股權結構，盈餘保守性和信用評等關係之研究 zh_TW dc.type (資料類型) article en
