| dc.contributor.advisor | 黃智聰 | zh_TW |
| dc.contributor.advisor | Huang,Jr Tsung | en_US |
| dc.contributor.author (作者) | 于慧中 | zh_TW |
| dc.contributor.author (作者) | Yu,Hwei Chung | en_US |
| dc.date.accessioned | 14-九月-2009 12:39:12 (UTC+8) | - |
| dc.date.available | 14-九月-2009 12:39:12 (UTC+8) | - |
| dc.identifier (其他 識別碼) | G0095921027 | en_US |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/31975 | - |
| dc.description (描述) | 碩士 | zh_TW |
| dc.description (描述) | 國立政治大學 | zh_TW |
| dc.description (描述) | 行政管理碩士學程 | zh_TW |
| dc.description (描述) | 95921027 | zh_TW |
| dc.description (描述) | 96 | zh_TW |
| dc.description.abstract (摘要) | 近年來國際間財報不實的醜聞時有所聞，使得投資人及社會大眾對公開資訊的正確性高度缺乏信任。無獨有偶，台灣地區的企業也因資訊不透明而使得投資人對企業財務報表之數字能否代表實際經營成果也產生懷疑，某些企業甚至隱瞞財報問題而導致投資人虧損，因此各界要求企業真實揭露經營狀況之呼籲不絶於耳，對公司治理及會計規範的探究也日益熱烈，資訊透明度的議題於是在國內、外均成為眾人高度關注的焦點。 眾所週知，金融機構在一國經濟發展中扮演至為關鍵的角色，也因其性質之特殊性，一旦發生問題，容易發生系統性之危機。因此，為避免金融機構經營資訊不透明而使投資人受到損失，各國監理機關均制定與資訊揭露相關之法規，期望金融機構在資訊充分揭露之情況之下經營，以達到金融穩定的目的。 然而回顧過往的相關文獻，有關資訊透明度的議題多數聚焦於上市公司之資訊揭露對經營績效或公司價值之影響層面來作探究，針對金融機構中之金融控股公司年報資訊透明度決定因素之研究，則較少受到關注。因此，本文以年報揭露之內容作為衡量資訊透明度之標的，採用2002年至2006年台灣14家金融控股公司之追蹤資料並搭配固定效果模型探討以下問題：（1）分析與了解金融控股公司資訊揭露之情形（2）以實證模型探討金融控股公司年報資訊透明度之決定因素。（3）提供監理機關修改「金融控股公司年報應行記載事項準則」揭露事項之參考及提出相關之政策建議，以利金融監理之需要。 本文以證基會之評鑑指標為基礎，對金融控股公司年報資訊揭露評鑑結果發現，金融控股公司之年報資訊揭露平均而言尚具改進空間，且各公司間存在極大差異；而實證結果顯示（1）在內部股權因素方面，經理人持股比例與年報資訊透明度呈現顯著之正相關。（2）在公司特性因素方面，本文發現公司規模係數為顯著負值，顯示金融控股公司之規模較小者，年報資訊透明度較佳。（3）在外部人持股因素方面，本國投信基金持股比例與年報資訊透明度呈現顯著之負向關聯。（4）在時間變數上，年報之資訊揭露隨著時間之遞移而逐步改善，二者呈現顯著的正相關。 | zh_TW |
| dc.description.abstract (摘要) | Financial reporting and information disclosure are important means for financial institutions to communicate their performances to investors. However, a series of accounting frauds shook public confidence in the reliability of financial statements. In response, people began to ask enterprises to disclose information truly and to enhance corporate governance and accounting controls. Everyone knows financial institutions play key roles in economic activities. Once failure, financial institutions will tend to cause system crisis easily. To prevent such failure from occurring and to disclose information of financial institutions to public are the responsibilities of supervisory authority. The purpose of this study are as follows:（1）to understand the status quo of annual reporting transparency in Taiwanese Financial Holding Companies.（2）to investigate the decisive factors that influence the annual reporting transparency.（3）to provide policy implications to the Financial Supervisory Commission on the amendments in Company Act and Corporate Governance Best-Practice Principles for Financial Holding Companies. This study uses the fixed-effect model with a panel data of Taiwanese Financial Holding Companies for the period of 2002-2006.Using Securities and Futures Institute’s “Information Disclosure and Transparency Ranking System’s Index” as a measure of transparency, we find that the information transparency across firms varies significantly and that the financial holding companies that have higher ranking in disclosure tend to be smaller in terms of total assets, have lower institutional ownership and higher managerial ownership. This study also shows that the transparency in Taiwanese financial holding companies disclosure has gradually improved in recent years. | en_US |
| dc.description.tableofcontents | 第一章 緒論............................................. 1 第一節 研究動機與目的................................... 1 第二節 研究架構及流程................................... 7 第三節 研究限制........................................ 10 第二章 理論探討與文獻回顧................................ 11 第一節 理論基礎........................................ 11 第二節 資訊透明度之意涵及效益............................ 14 第三節 影響資訊揭露因素之文獻回顧......................... 17 第三章 資訊揭露現況分析...................................22 第一節 資訊透明度相關法規 ................................22 第二節 國際性金融機構資訊公開揭露調查..................... 28 第三節 台灣金融控股公司資訊揭露評鑑結果分析................ 30 第四章 研究方法與變數資料................................. 33 第一節 實證模型設定..................................... 33 第二節 資料來源及選擇................................... 35 第三節 變數說明........................................ 36 第五章 實證結果與模型檢定................................ 49 第一節 金控公司資訊揭露概況及主要變數敍述統計.............. 49 第二節 實證結果分析..................................... 57 第三節 實證模型正確性檢驗 ................................62 第六章 結論與政策建議.....................................68 第一節 結論.............................................68 第二節 政策建議 .........................................70 參考文獻 .................................................73 附錄.....................................................77 | zh_TW |
| dc.language.iso | en_US | - |
| dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0095921027 | en_US |
| dc.subject (關鍵詞) | 金融控股公司 | zh_TW |
| dc.subject (關鍵詞) | 資訊透明度 | zh_TW |
| dc.subject (關鍵詞) | 年報 | zh_TW |
| dc.subject (關鍵詞) | financial holding company | en_US |
| dc.subject (關鍵詞) | information transparency | en_US |
| dc.subject (關鍵詞) | annual report | en_US |
| dc.title (題名) | 金融控股公司年報資訊透明度決定因素之研究 | zh_TW |
| dc.title (題名) | Determinants of the Information Transparency of Financial Holding Companies` Annual Report in Taiwan | en_US |
| dc.type (資料類型) | thesis | en |
| dc.relation.reference (參考文獻) | 一、中文文獻 | zh_TW |
| dc.relation.reference (參考文獻) | 山謬迪皮耶薩（Samuela. DiPiazza Jr）、羅勃特艾可斯（Robert G. Eccles）著（2003）。財務報表革命－公司治理的徹底解決方案（Building public trust : the future of corporate reporting，馬嘉應譯）。台北市：商周出版。（原作2002年出版）。 | zh_TW |
| dc.relation.reference (參考文獻) | 江向才、何里仁（2003），《公司治理之資訊透明度與績效評核關聯性之研究 》，2003年會計理論與實務研討會論文。 | zh_TW |
| dc.relation.reference (參考文獻) | 吳郁萱（2006），《公司資訊透明度、分析師跟隨與公司績效之關聯性》，台北：政治大學會計學研究所碩士論文。 | zh_TW |
| dc.relation.reference (參考文獻) | 李孟芳（2003），《股權結構對企業財務資訊揭露品質之影響－以上市電子業公司為例 》，台南：成功大學會計研究所碩士論文。 | zh_TW |
| dc.relation.reference (參考文獻) | 周建宏（2004），「從資訊評鑑看資訊揭露對企業的影響」，《資誠通訊》，165，頁22。 | zh_TW |
| dc.relation.reference (參考文獻) | 邱碧珠（2000），《資訊揭露程度與權益資金成本間之關係：我國資訊電子業關係》，台北：國立臺灣大學會計學研究所碩士論文。 | zh_TW |
| dc.relation.reference (參考文獻) | 金志遠（2000），《董事會特性與年報自願性揭露關係之研究 》，台北：政治大學會計學研究所碩士論文。 | zh_TW |
| dc.relation.reference (參考文獻) | 莊峻銘（2004），《獨立董監事、公司資訊透明度與公司價值之關聯性》，彰化：國立彰化師範大學會計學系碩士論文。 | zh_TW |
| dc.relation.reference (參考文獻) | 陳冠宙、陳育成、陳雪如（2005），「影響上市公司網站資訊透明度因子之實證」，《會計與公司治理》，2（1），頁33-59。 | zh_TW |
| dc.relation.reference (參考文獻) | 陳瑞斌、劉立倫、翁慈青（2006），「公司治理與分析師預測誤差/離散性關係之研究」，《台灣金融財務季刋》，7（3），頁53-80。 | zh_TW |
| dc.relation.reference (參考文獻) | 葉銀華（2002），「從台灣上市公司網站資訊揭露看透明度」，《會計研究月刋》，200，頁70-77。 | zh_TW |
| dc.relation.reference (參考文獻) | 葉銀華、李存修、柯承恩（2002），《公司治理與評等系統》。台北：商智文化。 | zh_TW |
| dc.relation.reference (參考文獻) | 鄭丁旺（2002），「談財務資訊之透明化」，《 會計研究月刋》，200，頁12。 | zh_TW |
| dc.relation.reference (參考文獻) | 蘇裕惠 (2005），「揭開企業財務運作的神秘面紗─沙賓法案404完全解析」，《勤業眾信通訊》，3，頁6-7。 | zh_TW |
| dc.relation.reference (參考文獻) | 二、英文文獻 | zh_TW |
| dc.relation.reference (參考文獻) | Ball, R., and P. Brown (1968), “An Empirical Evaluation of Accounting Income Numbers,” Journal of Accounting Research, 6, 159-178. | zh_TW |
| dc.relation.reference (參考文獻) | Basel Committee on Banking Supervision (1998), “Enhancing Bank Transparency-Public Disclosure and Supervisiory Information that Promote Safety and Soundness in Banking System,” Basel Report, September, 1-26. | zh_TW |
| dc.relation.reference (參考文獻) | Basel Committee on Banking Supervision (2000), “A New Capital Adequacy Framework: Pillar 3 Market Discipline,” Basel Report, January, 1-8. | zh_TW |
| dc.relation.reference (參考文獻) | Botosan, C.A. (1997), “Disclosure Level and the Cost of Equity Capital,” The Accounting Review, 72, 323-349. | zh_TW |
| dc.relation.reference (參考文獻) | Byard, D. and K.W. Shaw (2002), “Corporate disclosure quality and properties of analyst’s information environment,” Working Paper, SSRN. | zh_TW |
| dc.relation.reference (參考文獻) | Chen, C. J. P. and B. Jaggi (2000), “Association between Independent Nonexecutive Directors, Family Control and Financial Disclosures in Hong Kong,” Journal of Accounting and Public Policy, 19, 285-310. | zh_TW |
| dc.relation.reference (參考文獻) | Coffee, J. C. (1984), “Market Failure and the Economic Case for a Mandatory Disclosure System,” Virginia Law Review, 70, 717-754. | zh_TW |
| dc.relation.reference (參考文獻) | Davis, E, and J. Kay (1993), “European Mergers and Merger Policy,” New York: Oxford University Press. | zh_TW |
| dc.relation.reference (參考文獻) | Drucker, P. E. (1976), Foundations of finance, New York: Basic Books. | zh_TW |
| dc.relation.reference (參考文獻) | Eng, L. L. and Y. T. Mak (2003), “Corporate Governance and Voluntary Disclosure,”Journal of Accounting and Public Policy, 22, 325-345. | zh_TW |
| dc.relation.reference (參考文獻) | Freeman, R.N. (1987), “The Association between Accounting Earnings and Security Returns for Large and Small Firms,” Journal of Accounting and Economics, 9, 195-228. | zh_TW |
| dc.relation.reference (參考文獻) | Glosten, L. R., and P. R. Milgrom (1985), “Bid, Ask, and Transaction Prices in a Specialist Marketwith Heterogeneously Informed Traders,” Journal of Financial Economics, 14(1), 71-100. | zh_TW |
| dc.relation.reference (參考文獻) | Haniffa, R. M., and T. E. Cooke (2002), “Culture, Corporate Governance and Disclosure in Malaysian Corporations,” Journal of Accounting, Finance and Business Studies, 38, 317-349. | zh_TW |
| dc.relation.reference (參考文獻) | Healy, P., and K. Palepu (1993), “The Effect of Firms’ Financial Disclosure Dtrategies on StockPrices,” Accounting Horizons, 12, 25-48. | zh_TW |
| dc.relation.reference (參考文獻) | Healy, P., and K. Palepu (1999a), “Stock Performance and Intermediation Changes Surrounding Sustained Increases in Disclosure,” Contemporary Accounting Research, 16, 485–520. | zh_TW |
| dc.relation.reference (參考文獻) | Healy, P., and K. Palepu (2001), “Information Asymmetry, Corporate Disclosure, and the Capital Markets: A Review of the Empirical Disclosure Lliterature ,” Journal of Accounting and Economics, 31, 405-440. | zh_TW |
| dc.relation.reference (參考文獻) | Hill , R.C., W.E. Griffith, and G..G. Judge (2001), Undergraduate Econimetrics. New York:John Wiley ＆ Sons. | zh_TW |
| dc.relation.reference (參考文獻) | Hossain, M., M. H. B. Perera, and A. R. Rahman (1995), “Voluntary Disclosure in the Annual Reports of New Zealand Companies,” Journal of International Financial Management and Accounting, 16, 69-87. | zh_TW |
| dc.relation.reference (參考文獻) | Inchausi,B.G., (1997), “The Influence of Company Characteristics and Accounting Regulation on Information Disclosed by Spanish Firms,” European Accounting Review, 6(1), 45-68. | zh_TW |
| dc.relation.reference (參考文獻) | Jensen, M.C. (1986), “Agency costs of free cash flow, corporate finance, and takeovers,” American Economic Review, 76, 323–329. | zh_TW |
| dc.relation.reference (參考文獻) | Jensen, M.C. and W.H. Meckling (1976), “Theory of the Firm：Managerial Behavior, Agency Cost and Ownership Structure,” Journal of Financial Economics, 13, 305-360. | zh_TW |
| dc.relation.reference (參考文獻) | Jensen, M. C. and R. Ruback (1983), “The Market for Corporate Control: The Scientific Evidence,” Journal of Financial Economics, 11, 5-50. | zh_TW |
| dc.relation.reference (參考文獻) | Kevin, K., T. Steve and W. Mike (1997), “Corporate Governance: Economic and Financial Issues,” New York: Oxford University Press. | zh_TW |
| dc.relation.reference (參考文獻) | Kim, O., and Verrecchia, R. (1994), “Market Liquidity and Volume around Earnings Announcements,” Journal of Accounting and Economics, 17, 41-68. | zh_TW |
| dc.relation.reference (參考文獻) | Mangel, R. and H. Singh (1993), “Ownership Structure,Board Relationships and CEO Compensations in Large US Corporations,” Accounting and Business Research, 23(91A), 339-350. | zh_TW |
| dc.relation.reference (參考文獻) | Naser K, K. Al-Khatib and Y. Karbhati. (2002), “Empirical Evidence on the Depth of Corporate Information Disclosure in Developing Countries：The Case of Jordan,” International Journal of Commerce & Management, 12, 122. | zh_TW |
| dc.relation.reference (參考文獻) | Owusu-Ansah, S. (1998), “The Impact of Corporate Attributes on the extent of Mandatory disclosure and Reporting by Listed Companies in Zimbabew,” The international Journal of Accounting, 33(5), 605-631. | zh_TW |
| dc.relation.reference (參考文獻) | Patton, J. and I. Zelenka (1997), “An Empirical Analysis of the Determinants of the Extent of Disclosure in Annual Reports of Joint Stock Companies in the Czech Republic,” The European Accounting Review, 6(4), 605-626. | zh_TW |
| dc.relation.reference (參考文獻) | Pound, J. (1988), “Proxy Contests and the Efficiency of Shareholder oversight, ” Journal of Financial Economics, 20, 237-265. | zh_TW |
| dc.relation.reference (參考文獻) | Schadewitz, H. J. and D. R. Blevins (1998), “Major Determinants of Interim Disclosures in an Emerging Market,” American Business Review, 16(1), 41–55. | zh_TW |
| dc.relation.reference (參考文獻) | Sengupta, P. (1988), “Corporate Disclosure Quality and the Cost of the Debt,” The Accounting Review, l73, 459-474. | zh_TW |
| dc.relation.reference (參考文獻) | Spence, A. M. (1974), Market Signaling.Cambridge, Mass：Harvard University Press. | zh_TW |
| dc.relation.reference (參考文獻) | US Congress (2002), “Sarbanes-Oxley Act,” Public Law 107-204, H.R. 3763, 1-61. | zh_TW |
| dc.relation.reference (參考文獻) | Verrechia, R. (1983), “Discretionary Disclosure,” Journal of Accounting and Economics, 5(3), 179-194. | zh_TW |
| dc.relation.reference (參考文獻) | Zeghal, D. (1984), “Firm Size and the Informational Content of Financial Statements,” Journal of Financial and Quantitative Analysis, 19, 299-310. | zh_TW |
