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題名 經理人之會計師資格與任期對商譽減損相關揭露之影響
The Impact of CEO’s CPA Qualification and Tenure on Disclosure of Goodwill Impairment
作者 呂弘麒
Lu, Hong-Qi
貢獻者 林禹銘
Lin, I-Ming
呂弘麒
Lu, Hong-Qi
關鍵詞 經理人之會計師資格
經理人任期
商譽減損
自願性揭露
CEO’s CPA qualification
CEO’s tenure
Goodwill impairment
Voluntary disclosure
日期 2021
上傳時間 4-Aug-2021 14:30:47 (UTC+8)
摘要 近年來，世界經濟蓬勃發展，資本市場交易熱絡，投資人亦開始希望公司提供更多資訊以利於投資決策，而經理人則是影響公司資訊揭露的關鍵因素。本研究係探討經理人特質中之會計師資格及任期，對於商譽減損相關揭露之影響。本研究之樣本聚焦在美國S&P 500之公司，研究期間為2004年至2016年，採用人工之方式蒐集財報中之商譽減損相關資訊並衡量其揭露程度。實證結果顯示，兩者皆與商譽減損相關資訊的揭露程度呈正相關，代表經理人是否具備會計師證照及經理人之任期皆會對財報揭露造成正面影響。
In recent years, the world economy and capital market have grown strongly. Investors have also begun to hope that companies can provide more information for investment decision-making. CEO is a key factor affecting the information disclosure of companies. The study explores the impact of the CEO’s CPA qualification and tenure on the degree of disclosure of goodwill impairment. The sample of this study is obtained from the S&P 500 companies in the United States. The study period is from 2004 to 2016 and the information on goodwill impairment is collected manually. The empirical results show that CEO’s possession of a CPA license and CEO’s tenure are positively correlated with the degree of disclosure of goodwill impairment.
參考文獻 Adams, R. B., Almeida, H., & Ferreira, D. (2005). Powerful CEOs and their impact on corporate performance. The Review of Financial Studies, 18(4), 1403-1432.
Ahmed, A. S., & Guler, L. (2007). Evidence on the Effects of SFAS 142 on the Reliability of Goodwill Write-offs. Available at SSRN 989056.
Aier, J. K., Comprix, J., Gunlock, M. T., & Lee, D. (2005). The financial expertise of CFOs and accounting restatements. Accounting Horizons, 19(3), 123-135.
Bamber, L. S., Jiang, J., & Wang, I. Y. (2010). What’s my style? The influence of top managers on voluntary corporate financial disclosure. The accounting review, 85(4), 1131-1162.
Bantel, K. A., & Jackson, S. E. (1989). Top management and innovations in banking: Does the composition of the top team make a difference? Strategic management journal, 10(S1), 107-124.
Bertrand, M., & Schoar, A. (2003). Managing with style: The effect of managers on firm policies. The Quarterly journal of economics, 118(4), 1169-1208.
Brockman, P., Campbell, J. L., Lee, H. S., & Salas, J. M. (2019). CEO internal experience and voluntary disclosure quality: Evidence from management forecasts. Journal of Business Finance & Accounting, 46(3-4), 420-456.
Carmeli, A., & Tishler, A. (2004). Resources, capabilities, and the performance of industrial firms: A multivariate analysis. Managerial and decision economics, 25(6‐7), 299-315.
Chen, C. J., & Jaggi, B. (2000). Association between independent non-executive directors, family control and financial disclosures in Hong Kong. Journal of Accounting and Public policy, 19(4-5), 285-310.
Chen, C., Kohlbeck, M. J., & Warfield, T. (2004). Goodwill valuation effects of the initial adoption of SFAS 142. Available at SSRN 534484.
Chen, V. Y., Keung, E. C., & Lin, I.-M. (2019). Disclosure of fair value measurement in goodwill impairment test and audit fees. Journal of Contemporary Accounting & Economics, 15(3), 100160.
Cheng, E. C., & Courtenay, S. M. (2006). Board composition, regulatory regime and voluntary disclosure. The international journal of accounting, 41(3), 262-289.
Chidambaran, N., & John, K. (2001). Managerial compensation, voluntary disclosure, and large shareholder monitoring. Unpublished paper, New York University.
Chow, C. W., & Wong-Boren, A. (1987). Voluntary financial disclosure by Mexican corporations. Accounting review, 533-541.
Cooke, T. E. (1992). The impact of size, stock market listing and industry type on disclosure in the annual reports of Japanese listed corporations. Accounting and business research, 22(87), 229-237.
Custódio, C., & Metzger, D. (2014). Financial expert CEOs: CEO׳ s work experience and firm׳ s financial policies. Journal of financial economics, 114(1), 125-154.
Francis, J., Huang, A. H., Rajgopal, S., & Zang, A. Y. (2008). CEO reputation and earnings quality. Contemporary Accounting Research, 25(1), 109-147.
Gounopoulos, D., Loukopoulos, G., & Loukopoulos, P. (2020). Do financial expert CEOs matter for newly public firms? Available at SSRN 3729572.
Graham, J. R., Harvey, C. R., & Puri, M. (2013). Managerial attitudes and corporate actions. Journal of financial economics, 109(1), 103-121.
Hassan, M. K. (2009). UAE corporations‐specific characteristics and level of risk disclosure. Managerial Auditing Journal.
Heaton, J. B. (2005). Managerial optimism and corporate finance. In Advances in Behavioral Finance, Volume II (pp. 667-684): Princeton University Press.
Hirshleifer, D., Low, A., & Teoh, S. H. (2012). Are overconfident CEOs better innovators? The journal of finance, 67(4), 1457-1498.
Jiang, F., Zhu, B., & Huang, J. (2013). CEO`s financial experience and earnings management. Journal of Multinational Financial Management, 23(3), 134-145.
Kalelkar, R., & Khan, S. (2016). CEO financial background and audit pricing. Accounting Horizons, 30(3), 325-339.
Karamanou, I., & Vafeas, N. (2005). The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Journal of accounting research, 43(3), 453-486.
Lang, M., & Lundholm, R. (1993). Cross-sectional determinants of analyst ratings of corporate disclosures. Journal of accounting research, 31(2), 246-271.
Lawrence, A. (2013). Individual investors and financial disclosure. Journal of Accounting and Economics, 56(1), 130-147.
Lim, S., Matolcsy, Z., & Chow, D. (2007). The association between board composition and different types of voluntary disclosure. European Accounting Review, 16(3), 555-583.
Malmendier, U., & Tate, G. (2005). CEO overconfidence and corporate investment. The journal of finance, 60(6), 2661-2700.
Matsunaga, S. R., Wang, S., & Yeung, P. E. (2013). Does appointing a former CFO as CEO influence a firm’s accounting policies? Available at SSRN 2206523.
McCarthy, S., Oliver, B., & Song, S. (2017). Corporate social responsibility and CEO confidence. Journal of Banking & Finance, 75, 280-291.
Saidu, S. (2019). CEO characteristics and firm performance: focus on origin, education and ownership. Journal of Global Entrepreneurship Research, 9(1), 1-15.
Singhvi, S. S., & Desai, H. B. (1971). An empirical analysis of the quality of corporate financial disclosure. The accounting review, 46(1), 129-138.
Subramanian, R., Insley, R. G., & Blackwell, R. D. (1993). Performance and readability: A comparison of annual reports of profitable and unprofitable corporations. The Journal of Business Communication (1973), 30(1), 49-61.
Uyar, A., & Kilic, M. (2012). Influence of corporate attributes on forward-looking information disclosure in publicly traded Turkish corporations. Procedia-Social and Behavioral Sciences, 62, 244-252.
Williams Sr, J. R. (1992). The impact of company-specific versus country-specific characteristics on financial accounting disclosure: an empirical study of thirteen countries. The University of Mississippi,
Xu, H., & Rhee, C. S. (2018). Corporate Governance Structure and Accounting Information Disclosure Quality: Evidence from Shenzhen Stock Exchange in China. Asian International Studies Review, 19(1), 99-116.
描述 碩士
國立政治大學
會計學系
108353032
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0108353032
資料類型 thesis
dc.contributor.advisor 林禹銘zh_TW
dc.contributor.advisor Lin, I-Mingen_US
dc.contributor.author (Authors) 呂弘麒zh_TW
dc.contributor.author (Authors) Lu, Hong-Qien_US
dc.creator (作者) 呂弘麒zh_TW
dc.creator (作者) Lu, Hong-Qien_US
dc.date (日期) 2021en_US
dc.date.accessioned 4-Aug-2021 14:30:47 (UTC+8)-
dc.date.available 4-Aug-2021 14:30:47 (UTC+8)-
dc.date.issued (上傳時間) 4-Aug-2021 14:30:47 (UTC+8)-
dc.identifier (Other Identifiers) G0108353032en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/136299-
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) 108353032zh_TW
dc.description.abstract (摘要) 近年來，世界經濟蓬勃發展，資本市場交易熱絡，投資人亦開始希望公司提供更多資訊以利於投資決策，而經理人則是影響公司資訊揭露的關鍵因素。本研究係探討經理人特質中之會計師資格及任期，對於商譽減損相關揭露之影響。本研究之樣本聚焦在美國S&P 500之公司，研究期間為2004年至2016年，採用人工之方式蒐集財報中之商譽減損相關資訊並衡量其揭露程度。實證結果顯示，兩者皆與商譽減損相關資訊的揭露程度呈正相關，代表經理人是否具備會計師證照及經理人之任期皆會對財報揭露造成正面影響。zh_TW
dc.description.abstract (摘要) In recent years, the world economy and capital market have grown strongly. Investors have also begun to hope that companies can provide more information for investment decision-making. CEO is a key factor affecting the information disclosure of companies. The study explores the impact of the CEO’s CPA qualification and tenure on the degree of disclosure of goodwill impairment. The sample of this study is obtained from the S&P 500 companies in the United States. The study period is from 2004 to 2016 and the information on goodwill impairment is collected manually. The empirical results show that CEO’s possession of a CPA license and CEO’s tenure are positively correlated with the degree of disclosure of goodwill impairment.en_US
dc.description.tableofcontents 目錄 iv
表目錄 v
第一章　緒論 1
第一節　研究背景及動機 1
第二節　研究問題 3
第三節　研究架構 4
第二章　文獻探討與假說發展 5
第一節　經理人特性與公司經營 5
第二節　影響自願性揭露的因素 7
第三節　商譽相關會計處理的改變 9
第四節　假說發展 10
第三章　實證模型與變數衡量 12
第一節　樣本選取與資料來源 12
第二節　實證模型 15
第三節　變數定義與衡量 16
第四章　實證結果與分析 21
第一節　敘述性統計 21
第二節　Pearson相關係數分析 23
第三節　迴歸分析 25
第五章 結論與建議 29
第一節　研究結論 29
第二節　研究建議 30
參考文獻 31		zh_TW
dc.format.extent 1240421 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0108353032en_US
dc.subject (關鍵詞) 經理人之會計師資格zh_TW
dc.subject (關鍵詞) 經理人任期zh_TW
dc.subject (關鍵詞) 商譽減損zh_TW
dc.subject (關鍵詞) 自願性揭露zh_TW
dc.subject (關鍵詞) CEO’s CPA qualificationen_US
dc.subject (關鍵詞) CEO’s tenureen_US
dc.subject (關鍵詞) Goodwill impairmenten_US
dc.subject (關鍵詞) Voluntary disclosureen_US
dc.title (題名) 經理人之會計師資格與任期對商譽減損相關揭露之影響zh_TW
dc.title (題名) The Impact of CEO’s CPA Qualification and Tenure on Disclosure of Goodwill Impairmenten_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) Adams, R. B., Almeida, H., & Ferreira, D. (2005). Powerful CEOs and their impact on corporate performance. The Review of Financial Studies, 18(4), 1403-1432.
Ahmed, A. S., & Guler, L. (2007). Evidence on the Effects of SFAS 142 on the Reliability of Goodwill Write-offs. Available at SSRN 989056.
Aier, J. K., Comprix, J., Gunlock, M. T., & Lee, D. (2005). The financial expertise of CFOs and accounting restatements. Accounting Horizons, 19(3), 123-135.
Bamber, L. S., Jiang, J., & Wang, I. Y. (2010). What’s my style? The influence of top managers on voluntary corporate financial disclosure. The accounting review, 85(4), 1131-1162.
Bantel, K. A., & Jackson, S. E. (1989). Top management and innovations in banking: Does the composition of the top team make a difference? Strategic management journal, 10(S1), 107-124.
Bertrand, M., & Schoar, A. (2003). Managing with style: The effect of managers on firm policies. The Quarterly journal of economics, 118(4), 1169-1208.
Brockman, P., Campbell, J. L., Lee, H. S., & Salas, J. M. (2019). CEO internal experience and voluntary disclosure quality: Evidence from management forecasts. Journal of Business Finance & Accounting, 46(3-4), 420-456.
Carmeli, A., & Tishler, A. (2004). Resources, capabilities, and the performance of industrial firms: A multivariate analysis. Managerial and decision economics, 25(6‐7), 299-315.
Chen, C. J., & Jaggi, B. (2000). Association between independent non-executive directors, family control and financial disclosures in Hong Kong. Journal of Accounting and Public policy, 19(4-5), 285-310.
Chen, C., Kohlbeck, M. J., & Warfield, T. (2004). Goodwill valuation effects of the initial adoption of SFAS 142. Available at SSRN 534484.
Chen, V. Y., Keung, E. C., & Lin, I.-M. (2019). Disclosure of fair value measurement in goodwill impairment test and audit fees. Journal of Contemporary Accounting & Economics, 15(3), 100160.
Cheng, E. C., & Courtenay, S. M. (2006). Board composition, regulatory regime and voluntary disclosure. The international journal of accounting, 41(3), 262-289.
Chidambaran, N., & John, K. (2001). Managerial compensation, voluntary disclosure, and large shareholder monitoring. Unpublished paper, New York University.
Chow, C. W., & Wong-Boren, A. (1987). Voluntary financial disclosure by Mexican corporations. Accounting review, 533-541.
Cooke, T. E. (1992). The impact of size, stock market listing and industry type on disclosure in the annual reports of Japanese listed corporations. Accounting and business research, 22(87), 229-237.
Custódio, C., & Metzger, D. (2014). Financial expert CEOs: CEO׳ s work experience and firm׳ s financial policies. Journal of financial economics, 114(1), 125-154.
Francis, J., Huang, A. H., Rajgopal, S., & Zang, A. Y. (2008). CEO reputation and earnings quality. Contemporary Accounting Research, 25(1), 109-147.
Gounopoulos, D., Loukopoulos, G., & Loukopoulos, P. (2020). Do financial expert CEOs matter for newly public firms? Available at SSRN 3729572.
Graham, J. R., Harvey, C. R., & Puri, M. (2013). Managerial attitudes and corporate actions. Journal of financial economics, 109(1), 103-121.
Hassan, M. K. (2009). UAE corporations‐specific characteristics and level of risk disclosure. Managerial Auditing Journal.
Heaton, J. B. (2005). Managerial optimism and corporate finance. In Advances in Behavioral Finance, Volume II (pp. 667-684): Princeton University Press.
Hirshleifer, D., Low, A., & Teoh, S. H. (2012). Are overconfident CEOs better innovators? The journal of finance, 67(4), 1457-1498.
Jiang, F., Zhu, B., & Huang, J. (2013). CEO`s financial experience and earnings management. Journal of Multinational Financial Management, 23(3), 134-145.
Kalelkar, R., & Khan, S. (2016). CEO financial background and audit pricing. Accounting Horizons, 30(3), 325-339.
Karamanou, I., & Vafeas, N. (2005). The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Journal of accounting research, 43(3), 453-486.
Lang, M., & Lundholm, R. (1993). Cross-sectional determinants of analyst ratings of corporate disclosures. Journal of accounting research, 31(2), 246-271.
Lawrence, A. (2013). Individual investors and financial disclosure. Journal of Accounting and Economics, 56(1), 130-147.
Lim, S., Matolcsy, Z., & Chow, D. (2007). The association between board composition and different types of voluntary disclosure. European Accounting Review, 16(3), 555-583.
Malmendier, U., & Tate, G. (2005). CEO overconfidence and corporate investment. The journal of finance, 60(6), 2661-2700.
Matsunaga, S. R., Wang, S., & Yeung, P. E. (2013). Does appointing a former CFO as CEO influence a firm’s accounting policies? Available at SSRN 2206523.
McCarthy, S., Oliver, B., & Song, S. (2017). Corporate social responsibility and CEO confidence. Journal of Banking & Finance, 75, 280-291.
Saidu, S. (2019). CEO characteristics and firm performance: focus on origin, education and ownership. Journal of Global Entrepreneurship Research, 9(1), 1-15.
Singhvi, S. S., & Desai, H. B. (1971). An empirical analysis of the quality of corporate financial disclosure. The accounting review, 46(1), 129-138.
Subramanian, R., Insley, R. G., & Blackwell, R. D. (1993). Performance and readability: A comparison of annual reports of profitable and unprofitable corporations. The Journal of Business Communication (1973), 30(1), 49-61.
Uyar, A., & Kilic, M. (2012). Influence of corporate attributes on forward-looking information disclosure in publicly traded Turkish corporations. Procedia-Social and Behavioral Sciences, 62, 244-252.
Williams Sr, J. R. (1992). The impact of company-specific versus country-specific characteristics on financial accounting disclosure: an empirical study of thirteen countries. The University of Mississippi,
Xu, H., & Rhee, C. S. (2018). Corporate Governance Structure and Accounting Information Disclosure Quality: Evidence from Shenzhen Stock Exchange in China. Asian International Studies Review, 19(1), 99-116.		zh_TW
dc.identifier.doi (DOI) 10.6814/NCCU202101127en_US