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題名 財務長所受教育與會計品質
CFO`s Education and Accounting Quality
作者 林宜臻
貢獻者 林禹銘
林宜臻
關鍵詞 財務長
教育背景
會計品質
盈餘管理
日期 2016
上傳時間 1-Jul-2016 14:55:47 (UTC+8)
摘要 本研究以北美公司為研究對象，探討財務長特質與會計品質之關聯性。本研究應用Hambrick and Mason (1984)提出之高層理論觀點，探討財務長所受教育是否對企業之盈餘管理行為產生影響，以探究會計品質的高低。
經由迴歸實證結果發現，企業之財務長所受教育越好，越不會進行應計盈餘管理，也越不會有重大盈餘操控的情況發生，顯示其會計品質較佳。本研究之結果可作為企業遴選適當財務長之參考依據，以提高企業之會計品質，幫助企業未來發展。
參考文獻 一、中文文獻

王福勝和程富，2014，管理防禦視角下的CFO背景特徵與會計政策選擇——來自資產減值計提的經驗證據，會計研究, 12, 005.

劉永麗，2013，管理者背景特徵與會計穩健性研究，Doctoral dissertation，華中科技大學.

吳楠，2015，高層管理團隊背景特徵與企業過度投資—基於中國上市公司的實證研究.

宋宜庭，2014，董事長與高階經理人專業教育背景及盈餘管理之研究，逢甲大學，碩士: 100.

張兆國，劉永麗和談多嬌，2011，管理者背景特徵與會計穩健性—來自中國上市公司的經驗證據，會計研究, (7), 11-18.

苗露，2011，管理層背景特徵與企業過度投資研究 ，Doctoral dissertation， 成都: 西南財經大學會計系.

唐洋，劉文捷和賀超，2012，管理者受教育水準約束了企業的非效率投資行為嗎? 經濟管理研究，(2).

陳明義，2007，董事會品質與盈餘管理之關聯性研究，淡江大學會計學系碩士在職專班學位論文，1-104.




二、英文文獻

Agrawal, A., and Chadha, S. 2005. Corporate governance and accounting scandals*. Journal of law and economics, 48(2), 371-406.

Ali, A., Chen, T. Y., and Radhakrishnan, S. 2007. Corporate disclosures by family firms. Journal of accounting and economics, 44(1), 238-286.

Barker III, V. L., and Mueller, G. C. 2002. CEO characteristics and firm R&D spending. Management Science, 48(6), 782-801.

Beasley, M. S. 1996. An empirical analysis of the relation between the board of director composition and financial statement fraud. Accounting Review, 443-465.

Bédard, J., Chtourou, S. M., and Courteau, L. 2004. The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory, 23(2), 13-35.

Belliveau, M. A., O`Reilly, C. A., and Wade, J. B. 1996. Social capital at the top: Effects of social similarity and status on CEO compensation. Academy of management Journal, 39(6), 1568-1593.

Berger, A. N., Kick, T., and Schaeck, K. 2014. Executive board composition and bank risk taking. Journal of Corporate Finance, 28, 48-65.

Berlo,K.V. 2014. The influence of CEO and CFO overconfidence on earnings management.

Bhagat, S., Bolton, B. J., and Subramanian, A. 2010. CEO education, CEO turnover, and firm performance. Available at SSRN 1670219.


Burt, R. S. 1993. The social structure of competition. Explorations in economic sociology, 65, 103.

Cao, Z., Leng, F., Feroz, E. H., and Davalos, S. V. 2015. Corporate governance and default risk of firms cited in the SEC’s Accounting and Auditing Enforcement Releases. Review of Quantitative Finance and Accounting, 44(1), 113-138.

Dechow, P. M., Ge, W., Larson, C. R., and Sloan, R. G. 2007. Predicting material accounting manipulations. Ann Arbor, 1001, 48109.

Dechow, P. M., Sloan, R. G., and Sweeney, A. P. 1995. Detecting earnings management. Accounting review, 193-225.

Dechow, P. M., Sloan, R. G., and Sweeney, A. P. 1996. Causes and consequences of earnings manipulation: An analysis of firms subject to enforcement actions by the sec*. Contemporary accounting research, 13(1), 1-36.

Demerjian, P. R., Lev, B., Lewis, M. F., and McVay, S. E. 2012. Managerial ability and earnings quality. The Accounting Review, 88(2), 463-498.

Eisenhardt, K. M. 1989. Agency theory: An assessment and review. Academy of management review, 14(1), 57-74.

Feng, M., Ge, W., Luo, S., and Shevlin, T. 2011. Why do CFOs become involved in material accounting manipulations?. Journal of Accounting and Economics,51(1), 21-36.

Feroz, E. H., Park, K. J., and Pastena, V. 2008. The financial and market effects of the SEC`s accounting and auditing enforcement releases. Journal of Accounting Research, 29, 107-142.

Finkelstein, S., and Hambrick, D. C. 1996. Strategic leadership: Top executives and their effects on organizations.
Ge, W., Matsumoto, D., and Zhang, J. L. 2011. Do CFOs Have Style? An Empirical Investigation of the Effect of Individual CFOs on Accounting Practices*. Contemporary Accounting Research, 28(4), 1141-1179.

Geiger, M. A., and North, D. S. 2006. Does hiring a new CFO change things? An investigation of changes in discretionary accruals. The Accounting Review,81(4), 781-809.

Girigori, B. E. C. 2013. The relationship between CFO expertise and firm performance.

Golec, J. H. 1996. The effects of mutual fund managers` characteristics on their portfolio performance, risk and fees. Financial Services Review, 5(2), 133-147.

Gore, A., Matsunaga, S., and Yeung, E. 2008. The relation between financial monitoring and equity incentives for chief financial officers. Working paper, George Washington University, University of Oregon, and University of Georgia.

Gottesman, A. A., and Morey, M. R. 2006. Does a better education make for better managers? An empirical examination of CEO educational quality and firm performance.

Gottesman, A. A., and Morey, M. R. 2010. CEO educational background and firm financial performance. Journal of Applied Finance (Formerly Financial Practice and Education), 20(2).

Graham, J., and Harvey, C. 2002. How do CFOs make capital budgeting and capital structure decisions?. Journal of applied corporate finance, 15(1), 8-23.

Graham, J. R., Harvey, C. R., and Rajgopal, S. 2005. The economic implications of corporate financial reporting. Journal of accounting and economics, 40(1), 3-73.

Hambrick, D. C., and Mason, P. A. 1984. Upper echelons: The organization as a reflection of its top managers. Academy of management review, 9(2), 193-206.

Healy, P. M. 1985. The effect of bonus schemes on accounting decisions. Journal of accounting and economics, 7(1), 85-107.

Hribar, P., and Craig Nichols, D. 2007. The use of unsigned earnings quality measures in tests of earnings management. Journal of Accounting Research,45(5), 1017-1053.

Hu, N., Liu, L., and Miller, W. F. 2013. The Path to Reporting Economic Reality-Why all CEOs Should Have Accounting Degrees. Journal of Management Policy and Practice, 14(2), 11.

Huang, Z., Yang, J., Xie, W., and Li, H. 2013. Does MBA education make better managers? An empirical study from CEO replacement of Chinese listed firms. International Journal of Management in Education, 7(1-2), 5-21.

Jalbert, T., Furumo, K., and Jalbert, M. 2010. Does Educational Background Affect CEO Compensation And Firm Performance?. The Journal of Applied Business Research, 27(1), 15-40.

Jalbert, T., Rao, R. P., and Jalbert, M. 2002. Does school matter? An empirical analysis of CEO education, compensation, and firm performance. International Business and Economics Research Journal, 1(1), 83-98.

Jones, J. J. 1991. Earnings management during import relief investigations. Journal of accounting research, 193-228.

Klein, A. 2002. Audit committee, board of director characteristics, and earnings management. Journal of accounting and economics, 33(3), 375-400.


Leng, F., Feroz, E. H., Cao, Z., and Davalos, S. V. 2011. The Long‐Term Performance and Failure Risk of Firms Cited in the US SEC`s Accounting and Auditing Enforcement Releases. Journal of Business Finance & Accounting,38(7‐8), 813-841.

Leuz, C., Nanda, D., and Wysocki, P. D. 2003. Earnings management and investor protection: an international comparison. Journal of financial economics,69(3), 505-527.

Li, H., Zhang, X., and Zhao, R. 2011. Investing in talents: Manager characteristics and hedge fund performances. Journal of Financial and Quantitative Analysis, 46(01), 59-82.

Maxam, C. L., Petrova, M. T., Nikbakht, E., and Spieler, A. C. 2005. Managerial Characteristics and Hedge Fund Performance. Journal of Applied Finance, Forthcoming.

Mian, S. 2001. On the choice and replacement of chief financial officers. Journal of Financial Economics, 60(1), 143-175.

Pérez-González, F. 2006. Inherited control and firm performance. The American economic review, 1559-1588.

Rhee, S. G. The Effect of Firm Size on Earnings Management.

Richardson, S. A., Sloan, R. G., Soliman, M. T., and Tuna, I. (2005). Accrual reliability, earnings persistence and stock prices. Journal of accounting and economics, 39(3), 437-485.

Schipper, K. 1989. Commentary on earnings management. Accounting horizons, 3(4), 91-102.


Schrand, C. M., and Zechman, S. L. 2012. Executive overconfidence and the slippery slope to financial misreporting. Journal of Accounting and Economics,53(1), 311-329.

Scott, W. R. 2014. Financial accounting theory. Pearson Education Canada.

Skousen, C. J., and Wright, C. J. 2006. Contemporaneous risk factors and the prediction of financial statement fraud. Available at SSRN 938736.

Tyler, B. B., and Steensma, H. K. 1998. The effects of executives’ experiences and perceptions on their assessment of potential technological alliances. Strategic Management Journal, 19(10), 939-965.

Watts, R. L., and Zimmerman, J. L. 1978. Towards a positive theory of the determination of accounting standards. Accounting review, 112-134.

Zang, A. Y. 2011. Evidence on the trade-off between real activities manipulation and accrual-based earnings management. The Accounting Review, 87(2), 675-703.
描述 碩士
國立政治大學
會計學系
103353017
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0103353017
資料類型 thesis
dc.contributor.advisor 林禹銘zh_TW
dc.contributor.author (Authors) 林宜臻zh_TW
dc.creator (作者) 林宜臻zh_TW
dc.date (日期) 2016en_US
dc.date.accessioned 1-Jul-2016 14:55:47 (UTC+8)-
dc.date.available 1-Jul-2016 14:55:47 (UTC+8)-
dc.date.issued (上傳時間) 1-Jul-2016 14:55:47 (UTC+8)-
dc.identifier (Other Identifiers) G0103353017en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/98541-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 會計學系zh_TW
dc.description (描述) 103353017zh_TW
dc.description.abstract (摘要) 本研究以北美公司為研究對象，探討財務長特質與會計品質之關聯性。本研究應用Hambrick and Mason (1984)提出之高層理論觀點，探討財務長所受教育是否對企業之盈餘管理行為產生影響，以探究會計品質的高低。
經由迴歸實證結果發現，企業之財務長所受教育越好，越不會進行應計盈餘管理，也越不會有重大盈餘操控的情況發生，顯示其會計品質較佳。本研究之結果可作為企業遴選適當財務長之參考依據，以提高企業之會計品質，幫助企業未來發展。		zh_TW
dc.description.tableofcontents 第壹章 緒論 1
第一節 背景與介紹 1
第二節 研究流程 4
第貳章 文獻探討與假說發展 5
第一節 經理人所受教育對企業之影響 5
第二節 影響盈餘管理之因素 8
第三節 AAERs-重大盈餘操控之探討 10
第四節 假說發展 12
第參章 研究方法 14
第一節 實證模型 14
第二節 變數定義 16
第三節 樣本選取與資料處理過程 26
第肆章 實證分析結果 28
第一節 敘述性統計 28
第二節 實證結果 35
第伍章 結論與建議 39
第一節 研究結論與建議 39
第二節 研究限制 41
參考資料 42		zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0103353017en_US
dc.subject (關鍵詞) 財務長zh_TW
dc.subject (關鍵詞) 教育背景zh_TW
dc.subject (關鍵詞) 會計品質zh_TW
dc.subject (關鍵詞) 盈餘管理zh_TW
dc.title (題名) 財務長所受教育與會計品質zh_TW
dc.title (題名) CFO`s Education and Accounting Qualityen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 一、中文文獻

王福勝和程富，2014，管理防禦視角下的CFO背景特徵與會計政策選擇——來自資產減值計提的經驗證據，會計研究, 12, 005.

劉永麗，2013，管理者背景特徵與會計穩健性研究，Doctoral dissertation，華中科技大學.

吳楠，2015，高層管理團隊背景特徵與企業過度投資—基於中國上市公司的實證研究.

宋宜庭，2014，董事長與高階經理人專業教育背景及盈餘管理之研究，逢甲大學，碩士: 100.

張兆國，劉永麗和談多嬌，2011，管理者背景特徵與會計穩健性—來自中國上市公司的經驗證據，會計研究, (7), 11-18.

苗露，2011，管理層背景特徵與企業過度投資研究 ，Doctoral dissertation， 成都: 西南財經大學會計系.

唐洋，劉文捷和賀超，2012，管理者受教育水準約束了企業的非效率投資行為嗎? 經濟管理研究，(2).

陳明義，2007，董事會品質與盈餘管理之關聯性研究，淡江大學會計學系碩士在職專班學位論文，1-104.




二、英文文獻

Agrawal, A., and Chadha, S. 2005. Corporate governance and accounting scandals*. Journal of law and economics, 48(2), 371-406.

Ali, A., Chen, T. Y., and Radhakrishnan, S. 2007. Corporate disclosures by family firms. Journal of accounting and economics, 44(1), 238-286.

Barker III, V. L., and Mueller, G. C. 2002. CEO characteristics and firm R&D spending. Management Science, 48(6), 782-801.

Beasley, M. S. 1996. An empirical analysis of the relation between the board of director composition and financial statement fraud. Accounting Review, 443-465.

Bédard, J., Chtourou, S. M., and Courteau, L. 2004. The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory, 23(2), 13-35.

Belliveau, M. A., O`Reilly, C. A., and Wade, J. B. 1996. Social capital at the top: Effects of social similarity and status on CEO compensation. Academy of management Journal, 39(6), 1568-1593.

Berger, A. N., Kick, T., and Schaeck, K. 2014. Executive board composition and bank risk taking. Journal of Corporate Finance, 28, 48-65.

Berlo,K.V. 2014. The influence of CEO and CFO overconfidence on earnings management.

Bhagat, S., Bolton, B. J., and Subramanian, A. 2010. CEO education, CEO turnover, and firm performance. Available at SSRN 1670219.


Burt, R. S. 1993. The social structure of competition. Explorations in economic sociology, 65, 103.

Cao, Z., Leng, F., Feroz, E. H., and Davalos, S. V. 2015. Corporate governance and default risk of firms cited in the SEC’s Accounting and Auditing Enforcement Releases. Review of Quantitative Finance and Accounting, 44(1), 113-138.

Dechow, P. M., Ge, W., Larson, C. R., and Sloan, R. G. 2007. Predicting material accounting manipulations. Ann Arbor, 1001, 48109.

Dechow, P. M., Sloan, R. G., and Sweeney, A. P. 1995. Detecting earnings management. Accounting review, 193-225.

Dechow, P. M., Sloan, R. G., and Sweeney, A. P. 1996. Causes and consequences of earnings manipulation: An analysis of firms subject to enforcement actions by the sec*. Contemporary accounting research, 13(1), 1-36.

Demerjian, P. R., Lev, B., Lewis, M. F., and McVay, S. E. 2012. Managerial ability and earnings quality. The Accounting Review, 88(2), 463-498.

Eisenhardt, K. M. 1989. Agency theory: An assessment and review. Academy of management review, 14(1), 57-74.

Feng, M., Ge, W., Luo, S., and Shevlin, T. 2011. Why do CFOs become involved in material accounting manipulations?. Journal of Accounting and Economics,51(1), 21-36.

Feroz, E. H., Park, K. J., and Pastena, V. 2008. The financial and market effects of the SEC`s accounting and auditing enforcement releases. Journal of Accounting Research, 29, 107-142.

Finkelstein, S., and Hambrick, D. C. 1996. Strategic leadership: Top executives and their effects on organizations.
Ge, W., Matsumoto, D., and Zhang, J. L. 2011. Do CFOs Have Style? An Empirical Investigation of the Effect of Individual CFOs on Accounting Practices*. Contemporary Accounting Research, 28(4), 1141-1179.

Geiger, M. A., and North, D. S. 2006. Does hiring a new CFO change things? An investigation of changes in discretionary accruals. The Accounting Review,81(4), 781-809.

Girigori, B. E. C. 2013. The relationship between CFO expertise and firm performance.

Golec, J. H. 1996. The effects of mutual fund managers` characteristics on their portfolio performance, risk and fees. Financial Services Review, 5(2), 133-147.

Gore, A., Matsunaga, S., and Yeung, E. 2008. The relation between financial monitoring and equity incentives for chief financial officers. Working paper, George Washington University, University of Oregon, and University of Georgia.

Gottesman, A. A., and Morey, M. R. 2006. Does a better education make for better managers? An empirical examination of CEO educational quality and firm performance.

Gottesman, A. A., and Morey, M. R. 2010. CEO educational background and firm financial performance. Journal of Applied Finance (Formerly Financial Practice and Education), 20(2).

Graham, J., and Harvey, C. 2002. How do CFOs make capital budgeting and capital structure decisions?. Journal of applied corporate finance, 15(1), 8-23.

Graham, J. R., Harvey, C. R., and Rajgopal, S. 2005. The economic implications of corporate financial reporting. Journal of accounting and economics, 40(1), 3-73.

Hambrick, D. C., and Mason, P. A. 1984. Upper echelons: The organization as a reflection of its top managers. Academy of management review, 9(2), 193-206.

Healy, P. M. 1985. The effect of bonus schemes on accounting decisions. Journal of accounting and economics, 7(1), 85-107.

Hribar, P., and Craig Nichols, D. 2007. The use of unsigned earnings quality measures in tests of earnings management. Journal of Accounting Research,45(5), 1017-1053.

Hu, N., Liu, L., and Miller, W. F. 2013. The Path to Reporting Economic Reality-Why all CEOs Should Have Accounting Degrees. Journal of Management Policy and Practice, 14(2), 11.

Huang, Z., Yang, J., Xie, W., and Li, H. 2013. Does MBA education make better managers? An empirical study from CEO replacement of Chinese listed firms. International Journal of Management in Education, 7(1-2), 5-21.

Jalbert, T., Furumo, K., and Jalbert, M. 2010. Does Educational Background Affect CEO Compensation And Firm Performance?. The Journal of Applied Business Research, 27(1), 15-40.

Jalbert, T., Rao, R. P., and Jalbert, M. 2002. Does school matter? An empirical analysis of CEO education, compensation, and firm performance. International Business and Economics Research Journal, 1(1), 83-98.

Jones, J. J. 1991. Earnings management during import relief investigations. Journal of accounting research, 193-228.

Klein, A. 2002. Audit committee, board of director characteristics, and earnings management. Journal of accounting and economics, 33(3), 375-400.


Leng, F., Feroz, E. H., Cao, Z., and Davalos, S. V. 2011. The Long‐Term Performance and Failure Risk of Firms Cited in the US SEC`s Accounting and Auditing Enforcement Releases. Journal of Business Finance & Accounting,38(7‐8), 813-841.

Leuz, C., Nanda, D., and Wysocki, P. D. 2003. Earnings management and investor protection: an international comparison. Journal of financial economics,69(3), 505-527.

Li, H., Zhang, X., and Zhao, R. 2011. Investing in talents: Manager characteristics and hedge fund performances. Journal of Financial and Quantitative Analysis, 46(01), 59-82.

Maxam, C. L., Petrova, M. T., Nikbakht, E., and Spieler, A. C. 2005. Managerial Characteristics and Hedge Fund Performance. Journal of Applied Finance, Forthcoming.

Mian, S. 2001. On the choice and replacement of chief financial officers. Journal of Financial Economics, 60(1), 143-175.

Pérez-González, F. 2006. Inherited control and firm performance. The American economic review, 1559-1588.

Rhee, S. G. The Effect of Firm Size on Earnings Management.

Richardson, S. A., Sloan, R. G., Soliman, M. T., and Tuna, I. (2005). Accrual reliability, earnings persistence and stock prices. Journal of accounting and economics, 39(3), 437-485.

Schipper, K. 1989. Commentary on earnings management. Accounting horizons, 3(4), 91-102.


Schrand, C. M., and Zechman, S. L. 2012. Executive overconfidence and the slippery slope to financial misreporting. Journal of Accounting and Economics,53(1), 311-329.

Scott, W. R. 2014. Financial accounting theory. Pearson Education Canada.

Skousen, C. J., and Wright, C. J. 2006. Contemporaneous risk factors and the prediction of financial statement fraud. Available at SSRN 938736.

Tyler, B. B., and Steensma, H. K. 1998. The effects of executives’ experiences and perceptions on their assessment of potential technological alliances. Strategic Management Journal, 19(10), 939-965.

Watts, R. L., and Zimmerman, J. L. 1978. Towards a positive theory of the determination of accounting standards. Accounting review, 112-134.

Zang, A. Y. 2011. Evidence on the trade-off between real activities manipulation and accrual-based earnings management. The Accounting Review, 87(2), 675-703.		zh_TW