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題名 獨立董事異常離職之資訊性
Informativeness of the Abnormal Resignation of Independent Directors
作者 林佑臻
Lin, You-Zhen
貢獻者 郭弘卿
林佑臻
Lin, You-Zhen
關鍵詞 獨立董事
異常離職
未來盈餘反應係數
會計財務專長
Independent directors
Abnormal resignation
Future earnings response coefficient
Financial or accounting expertise
日期 2020
上傳時間 1-Jul-2020 13:34:37 (UTC+8)
摘要 本研究擬探討獨立董事異常離職對於未來盈餘究竟是否具資訊性，以台灣上市櫃公司為研究對象，研究期間為2009至2015年，探討 (一)獨立董事異常離職對未來盈餘反應係數之影響。(二)在發生獨立董事異常離職公司中，具有會計或財務專長之獨立董事對未來盈餘反應係數之影響。(三)在發生獨立董事異常離職公司中，離職者為女性獨立董事時對未來盈餘反應係數之影響。
實證結果指出，發生異常離職者與未來盈餘反應係數呈顯著正相關，且進一步區分出財務或會計專長之獨立董事後，相較於其他專業之獨立董事而言，因其對公司財務狀況更加了 解，其離職與未來盈餘反應係數呈現顯著正相關，最後，當 離職者為女性時，與未來盈餘反應係數間並無顯著關聯性。
This study aims to investigate whether the abnormal resignation of independent directors is informative for future earnings, with Taiwan listed companies as the study subject, and the study period is 2009-2015. To examine (1) the impact of the abnormal resignation of independent directors on the future earnings response coefficient, (2) In the companies where the independent director`s abnormal resignation occurs, the effect of independent directors with accounting or financial expertise on the future earnings response coefficient, and (3) In the companies where the independent director`s abnormal resignation occurs, the impact of the female independent director on the future earnings response coefficient.
The research suggests that the relationship between future earnings response coefficient and abnormal resignation is significantly positive. And further distinguishing between independent directors with financial or accounting expertise, their resignation is significantly positively correlated with future earnings response coefficient because they are more aware of the company`s financial position than independent directors in other professions. Finally, there is no significant correlation between the resignation and the future earnings response coefficient when the person leaving is female.
參考文獻 一、中文文獻
朱博湧、林裕淩與林峻宇，，2015，獨立董事組成、資訊透明度與組織績效－以2008全球金融風暴為例，評價學報，第9期：1-20。
李金龍，2007，我國上市 (櫃 )公司獨立董監事自願性 離職因素之探討，國立台北大學會計學系碩士論文。
李彥翰，2013，獨立董事與審計委員會對經營績效之影響 -以上市櫃公司電子業為例，中國文化大學會計學系碩士論文。
李悅嘉，，2014，獨立董事對資訊揭露、盈餘管理影響之研究，中國文化大學會研所碩士論文。
李語軒，2019，學者或女性獨立董事之離職宣告的市場反應及對盈餘品質的影響私立東吳大學會計學系碩士論文。
林玲蘭，2009，獨立董事之專業性、獨立性及勤勉度與盈餘管理關聯性之研究，私立輔仁大學會計學系碩士論文。
邱垂昌與莊清騄 2010，獨立董監事、公司資訊透明度與公司價值之關聯性，中山管理月刊，第十八卷，第4期 949-1008。
柯淑珍，2010，財報資訊與股票報酬率之分量迴歸分析，國立高雄應用科技大學金融資訊研究所碩士論文。
施振勳，2012，獨立董監事之會計專長與盈餘管理和經營績效之關聯性，私立輔仁大學會計學系碩士論文。
高上洋，2019，獨立董事辭職與市場反應之研究，國立政治大學會計學系碩士論文。
翁碧辰，2014，獨立董事之職責及專業度與投資決策基礎下之盈餘品質，私立東吳大學會計學系碩士論文。
許正皜，2019，離職獨立董事特質與實質盈餘管理之關聯性，國立臺灣大學商學研究所碩士論文。
許雅涵，2012，獨立董事與審計委員對盈餘管理之影響，中國文化大學會 計學系碩士論文。
曾伊齡，2017，設立獨立董事與功能性委員會對企業價值的影響，私立淡江大學會計學系碩士在職專班碩士論文。
黃宇瑄，2015，獨立董事特性與財務報導品質之關聯性，私立淡江大學會計學系碩士論文。
黃詩涵，2019，獨立董事變動與債務資金成本之關聯性，國立台灣大學會計學系研究所碩士論文。
黃燕玉， 2004，自願性獨立董事聘任宣告對股東財富之影響，國立台北大學會計學系碩士論文。
陳怡君，2017，獨立董事獨立嗎？由董事會獨立性、獨立董事任期與公司經營績效看臺灣獨立董事制度，國立交通大學管理學院經營管理學程碩士論文。
陳貞宜，2015 獨立董事席次比例對盈餘透明度的影響 —以獨立董事任期作為調節變數，國立中興大學會計學系研究所碩士論文。
陳解柔，2007，探討獨立董監事請辭行為與公司績效之關聯性，國立台灣大學財務金融學研究所碩士論文。
陳顯儀、陳信宏與白祥文，2014，月營收對股價報酬影響性之研究，財金論文叢刊，第21期 (12月):37-56。
張晏芸，2008 董事會中女性成員與盈餘保守性關聯之研究：來自中國之證據國立政治大學會計學系研究所碩士論文。
張雅玲，2004，我國企業獨立董事機制與經營績效之關聯性研究，私立大葉大學會計資訊學系研究所碩士論文。
辜珮莉，2008，獨立董事制度與企業經營績效關聯性之研究，國立雲林科技大學會計學系研究所碩士論文。
楊靜怡，2017，女性獨立董事、公司治理與公司績效之關聯，私立靜宜大學財務金融學系研究所碩士論文。
廖聰憲，2012，獨立董事與公司治理之研究 -以審計人員與投資者之觀點為例，私立大葉大學會計資訊系研究所碩士論文。
閻紹平，2012，獨立董事、資訊透明度與公司績效之研究 台灣上市櫃公司之實證分析，私立世新大學財務金融學研究所碩士論文。
顏如萍，2014，女性董事與財務報表重編，國立政治大學商學院經營管理學程國際金融組碩士論文。

二、 英文文獻
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Bankel, M., P. Mather, and A. Ramsay. 2006. The association between corporate governance and earnings management: The role of independent directors.Corporate Ownership & Control, 3(4): 65-75.
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Carcello, J., C. Hollingsworth, A. Klein, and T. Neal. 2006. Audit committee financial expertise, competing corporate governance mechanisms, and earnings management. Working Paper, University of Tennessee, Clemson University, & New York University.
Chen, K., R. Elder, and Y. Hsieh. 2007. Corporate governance and earnings management: The implications of corporate governance best-practice principles for Taiwanese listed companies. Journal of Contemporary Accounting & Economic, 3(2): 73-105.
Chen, C. J. P., and B. Jaggi. 2000. Association between independent non-executive directors, family control and financial disclosures in Hong Kong. Journal of Accounting and Public Policy, 19(4): 285-310.
Chen, J., A. Garel, and A. T. Rad. 2019, The value of academics: Evidence from academic independent director resignations in China. Journal of Corporate Finance, 58: 393-414.
Comprix, J., J. Guo, Y. Zhang, and N. Zhou. 2017. Setting expected rates of return on pension plan assets: New evidence on the influence of audit committee Accounting experts. Research in Accounting Regulation, 29(2): 159-166.
Collins, D. W., S. P. Kothari, J. Shanken, and R. G. Sloan. 1994. Lack of timeliness and noise as explanations for the low contemporaneuos return-earnings association. Journal of Accounting and Economics, 18(3): 289-324.
Dauglas, M. B. 2011. Women on boards of directors: A global snapshot. Working paper, University of Pittsburgh School of Law.
Dewally, M, and W. P. Sarah. 2010. Upheaval in the boardroom: Outside director public resignations. motivations, and consequences. Journal of Corporate Finance 16 (1): 38-52.
Drobetz, W., F. V. Meyerinck, D. Oesch, and M. Schmid. 2018. Industry expert directors. Journal of Banking & Finance, 92: 195-215.
Fahlenbrach, R. A. Low, and R. Stulz. 2015. Do independent director departures predict future bad events?, European Corporate Governance Institute – Finance Working Paper, 281.
Fogel, K., L. Ma, and R. Morck. 2015. Powerful independent directors. Working paper,National Bureau of Economic Research.
García-Sánchez, I. M., J. V. Frías Aceituno, and L. R. Domínguez, 2015. The ethical commitment of independent directors in different contexts of investor Protection.
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Gordon, J. 2006. The rise of independent directors in the United States, 1950-2005: Of Shareholder value and stock market prices. Stanford Law Review, 59(6): 1465-1568.
Gupta, M., and L. Fields. 2009. Board independence and corporate governance: evidence from director resignations. Journal of Business Finance & Accounting, 36(1-2): 161-184.
Have, K. B., S. Huang, B. Segal, and D. Segal. 2018. Do independent directors tell the truth, the whole truth, and nothing but the truth when they resign? Journal of Accounting, Auditing & Finance.
Jiang, L., K. R. Ferris, and E. N. Coffman. 2009. The Association between financially expert independent directors and the accounting for employee stock options. Research in Accounting Regulation, 21(1): 1-10.
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Masulis, R., C. Ruzzier, S. Xiao, and S. Zhao. 2012. Do independent expert directors matter? Research Paper in economic Archive.
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描述 碩士
國立政治大學
會計學系
107353026
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0107353026
資料類型 thesis
dc.contributor.advisor 郭弘卿zh_TW
dc.contributor.author (Authors) 林佑臻zh_TW
dc.contributor.author (Authors) Lin, You-Zhenen_US
dc.creator (作者) 林佑臻zh_TW
dc.creator (作者) Lin, You-Zhenen_US
dc.date (日期) 2020en_US
dc.date.accessioned 1-Jul-2020 13:34:37 (UTC+8)-
dc.date.available 1-Jul-2020 13:34:37 (UTC+8)-
dc.date.issued (上傳時間) 1-Jul-2020 13:34:37 (UTC+8)-
dc.identifier (Other Identifiers) G0107353026en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/130509-
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) 107353026zh_TW
dc.description.abstract (摘要) 本研究擬探討獨立董事異常離職對於未來盈餘究竟是否具資訊性，以台灣上市櫃公司為研究對象，研究期間為2009至2015年，探討 (一)獨立董事異常離職對未來盈餘反應係數之影響。(二)在發生獨立董事異常離職公司中，具有會計或財務專長之獨立董事對未來盈餘反應係數之影響。(三)在發生獨立董事異常離職公司中，離職者為女性獨立董事時對未來盈餘反應係數之影響。
實證結果指出，發生異常離職者與未來盈餘反應係數呈顯著正相關，且進一步區分出財務或會計專長之獨立董事後，相較於其他專業之獨立董事而言，因其對公司財務狀況更加了 解，其離職與未來盈餘反應係數呈現顯著正相關，最後，當 離職者為女性時，與未來盈餘反應係數間並無顯著關聯性。		zh_TW
dc.description.abstract (摘要) This study aims to investigate whether the abnormal resignation of independent directors is informative for future earnings, with Taiwan listed companies as the study subject, and the study period is 2009-2015. To examine (1) the impact of the abnormal resignation of independent directors on the future earnings response coefficient, (2) In the companies where the independent director`s abnormal resignation occurs, the effect of independent directors with accounting or financial expertise on the future earnings response coefficient, and (3) In the companies where the independent director`s abnormal resignation occurs, the impact of the female independent director on the future earnings response coefficient.
The research suggests that the relationship between future earnings response coefficient and abnormal resignation is significantly positive. And further distinguishing between independent directors with financial or accounting expertise, their resignation is significantly positively correlated with future earnings response coefficient because they are more aware of the company`s financial position than independent directors in other professions. Finally, there is no significant correlation between the resignation and the future earnings response coefficient when the person leaving is female.		en_US
dc.description.tableofcontents 壹、 緒論 1
一、研究動機與背景 1
二、研究目的與議題 3
三、預期研究貢獻 5
四、研究架構 6
貳、 文獻回顧及假說發展 8
一、設置獨立董事與經營績效、盈餘品質及透明度 8
二、獨立董事離職之相關探討 14
三、具專業背景之獨立董事 17
四、女性獨立董事 20
參、 研究方法及步驟 22
一、獨立董事異常離職之衡量(Departure) 22
二、實證模型 23
三、研究期間與資料來源 29
肆、 實證結果 31
一、敘述性統計 31
二、相關性分析 33
三、迴歸分析 35
伍、 研究結論與建議 43
一、研究結論 43
二、研究建議 44
參考文獻 45
一、中文文獻 45
二、英文文獻 46		zh_TW
dc.format.extent 1936753 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0107353026en_US
dc.subject (關鍵詞) 獨立董事zh_TW
dc.subject (關鍵詞) 異常離職zh_TW
dc.subject (關鍵詞) 未來盈餘反應係數zh_TW
dc.subject (關鍵詞) 會計財務專長zh_TW
dc.subject (關鍵詞) Independent directorsen_US
dc.subject (關鍵詞) Abnormal resignationen_US
dc.subject (關鍵詞) Future earnings response coefficienten_US
dc.subject (關鍵詞) Financial or accounting expertiseen_US
dc.title (題名) 獨立董事異常離職之資訊性zh_TW
dc.title (題名) Informativeness of the Abnormal Resignation of Independent Directorsen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 一、中文文獻
朱博湧、林裕淩與林峻宇，，2015，獨立董事組成、資訊透明度與組織績效－以2008全球金融風暴為例，評價學報，第9期：1-20。
李金龍，2007，我國上市 (櫃 )公司獨立董監事自願性 離職因素之探討，國立台北大學會計學系碩士論文。
李彥翰，2013，獨立董事與審計委員會對經營績效之影響 -以上市櫃公司電子業為例，中國文化大學會計學系碩士論文。
李悅嘉，，2014，獨立董事對資訊揭露、盈餘管理影響之研究，中國文化大學會研所碩士論文。
李語軒，2019，學者或女性獨立董事之離職宣告的市場反應及對盈餘品質的影響私立東吳大學會計學系碩士論文。
林玲蘭，2009，獨立董事之專業性、獨立性及勤勉度與盈餘管理關聯性之研究，私立輔仁大學會計學系碩士論文。
邱垂昌與莊清騄 2010，獨立董監事、公司資訊透明度與公司價值之關聯性，中山管理月刊，第十八卷，第4期 949-1008。
柯淑珍，2010，財報資訊與股票報酬率之分量迴歸分析，國立高雄應用科技大學金融資訊研究所碩士論文。
施振勳，2012，獨立董監事之會計專長與盈餘管理和經營績效之關聯性，私立輔仁大學會計學系碩士論文。
高上洋，2019，獨立董事辭職與市場反應之研究，國立政治大學會計學系碩士論文。
翁碧辰，2014，獨立董事之職責及專業度與投資決策基礎下之盈餘品質，私立東吳大學會計學系碩士論文。
許正皜，2019，離職獨立董事特質與實質盈餘管理之關聯性，國立臺灣大學商學研究所碩士論文。
許雅涵，2012，獨立董事與審計委員對盈餘管理之影響，中國文化大學會 計學系碩士論文。
曾伊齡，2017，設立獨立董事與功能性委員會對企業價值的影響，私立淡江大學會計學系碩士在職專班碩士論文。
黃宇瑄，2015，獨立董事特性與財務報導品質之關聯性，私立淡江大學會計學系碩士論文。
黃詩涵，2019，獨立董事變動與債務資金成本之關聯性，國立台灣大學會計學系研究所碩士論文。
黃燕玉， 2004，自願性獨立董事聘任宣告對股東財富之影響，國立台北大學會計學系碩士論文。
陳怡君，2017，獨立董事獨立嗎？由董事會獨立性、獨立董事任期與公司經營績效看臺灣獨立董事制度，國立交通大學管理學院經營管理學程碩士論文。
陳貞宜，2015 獨立董事席次比例對盈餘透明度的影響 —以獨立董事任期作為調節變數，國立中興大學會計學系研究所碩士論文。
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dc.identifier.doi (DOI) 10.6814/NCCU202000609en_US