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題名 台灣上市櫃公司資產減損之探討
作者 楊美雪
貢獻者 林宛瑩
楊美雪
關鍵詞 資產減損
35號公報
盈餘管理
洗大澡
Asset impairment
SFAS No.35
Earning smoothing
take a bath
日期 2005
上傳時間 18-Sep-2009 15:00:33 (UTC+8)
摘要 國內35號會計準則公報的實施是會計從歷史成本原則走向公平價值之重要里程碑,在新公報提高財務報表攸關性之同時,卻可能因放棄可靠性而增大企業報導盈餘的空間。是以實施35號公報對企業財務與營運面資訊揭露上之影響,除資產減損認列項目的正確性,認列金額的適足性,相關揭露報導的適當性外,影響資產減損的因素,以及是否具有公司或產業差異性等,均為值得深入探討的議題。

本論文以2004年報及2005年半年報為研究期間,針對資產減損之認列內容是否符合35號公報之規範內容,本研究發現國內上市櫃公司,將原來規範在1號或5號公報、後來納入35號公報受評之資產,在研究期間內認列並報導的資產減損損失合計約為新台幣203億元,分析結果隱喻國內上市櫃公司在適用35號公報時,確有存在不當認列之可能。本研究同時發現在財務報告資訊品質方面存在財務報告附註揭露「會計變動理由及其影響數」以及會計師查核意見書未對適用35號公報予以適當揭露者計有163家;以及母子公司適用35號公報之時點不同者。

至於認列資產減損金額之決定因素,本研究之實證結果發現,企業認列資產減損之大小受獲利能力、經營績效以及資產使用效能等企業營運因素之影響。在企業特性方面,本研究發現負債比例愈高及企業信用風險愈差之企業,其資產減損金額愈大。規模愈大之公司,認列之資產減損愈小;以及資訊電子業者認列顯著較高之資產減損金額。由於企業在適用35號公報上保有彈性判斷之空間,因此本研究發現企業認列資產減損之大小受到企業本身承受能力及洗大澡動機之影響,隱喻35號公報可能是管理當局可以操弄盈餘之工具之ㄧ。
The implementation of new accounting standard (SFAS No.35) on assets impaired is a milestone of moving from historical cost principle towards fair value principle. As SFAS No. 35 may enhance the relevance of financial information at the cost of reliability, there exists the flexibility of reported earnings through the new communiqué. Based on the importance of the SFAS No.35 on a company’s financial and operational reporting, this thesis investigate the accuracy and adequateness of asset impairment, the appropriateness of reporting and disclosures of asset impairment, the determinants of asset impairment and the characteristics across industry are worth studying into thoroughly.

With the topic of the contents of asset impairment in compliance with SFAS No.35, this study finds that the listed companies in Taiwan recognized and reported as asset impairment in the amount of NT $88,094 million for the study period from December, 2004 to June, 2005, of which approximately amounted to NT $20,300 million should be periodically evaluated in accordance with SFAS No.1 or SFAS No.5 before adoption of SFAS No.35. As a result, it metaphors listed company in Taiwan to use SFAS No.35 as an excuse for written off asset value.

We explored the accuracy of asset impairment loss and the appropriateness of reporting for asset impairment for listed companies in Taiwan. When analyzing the reporting quality, we found that there were 163 financial reports of listed companies in Taiwan without footnote of “Accounting change and its effect” or explanationary paragraph for accounting change in auditors’ opinion for the study period from December, 2004 to June, 2005. In addition, we also found that four companies within two consolidated group started to adopt SFAS No.35 at the different timing against the rule of consistency on the adoption of accounting principle among consolidated entities.

We explored the determinants of asset impairment for the listed companies in Taiwan for the period from December, 2004 to June, 2005. Our empirical results show the following: (1) The size of asset impairment is associated with operational factors such as profitability, operational performance and effectiveness of asset utilization;(2) In the perspective of company characteristic, the size of asset impairment is associated with the debt ratio and worse credit risk ;(3) The bigger company recognized the smaller impairment loss . Compared to other industries ( excluded financial institutions and securities),the huge impairment had been recognized in electronic industry .Since the evaluation of asset value involved a lot of professional judgments , we found that the size of impairment loss was associated with the management reporting motivation and capability to afford such losses . It metaphors that the SFAS No. is one of the vehicle of earning smoothing to be used.
參考文獻 中文部分:
財團法人中華民國會計研究發展基金會,2004年,財務會計準則公報第35號公報:<資產減損之會計處理準則>,台北:財務會計準則委員會
財團法人中華民國會計研究發展基金會,2005年,財務會計準則公報第34號公報:<金融商品之會計處理準則>,台北:財務會計準則委員會
財團法人中華民國會計研究發展基金會,2005年,財務會計準則公報第1號公報:<財務會計觀念架構及財務報表之編製>,台北:財務會計準則委員會
財團法人中華民國會計研究發展基金會,2005年,財務會計準則公報第5號公報:<採權益法之長期股權投資會計處理準則>,台北:財務會計準則委員會
李智雯,2000,運用現金流量資訊預測企業財務危機之實證研究,國立政治大學會計系碩士論文。
吳清在與謝宛庭,2005,「認列資產減損時點與金額之決定因素與其市場反應」,台灣大學2005年會計與理論實務研討會
林有志與廖宜峰,2005,「公司提前採用資產減損公報之盈餘管理動機」,台灣大學2005年會計與理論實務研討會
陳慶隆,2005,「選擇性新會計準則實施時點對策略性會計報導與資訊攸關性的影響」,朝陽科技大學第九屆財金理論與實務研討會
張廖年任,2003,上市公司股權結構與即時性資訊揭露品質對公司發生財務危機之研究,國立政治大學會計系碩士論文。
劉惠美,2005,「我國上市櫃公司資產減損與企業特色關聯性之研究」,輔仁大學會計學系碩士班
英文部分:
FASB.1995.Statement of Financial Accounting Standards No.121: Accounting for the impairment of long-lived assets and for long-lived assets to be disposed of ., Norwark , CT: Financial Accounting Standards Board.
FASB.2001.Statement of Financial Accounting Standards No.142: Accounting for the goodwill and other intangible assets. Norwark, CT: Financial Accounting Standards Board.
Alciatore ,M., C. Dee, P. Easton, and N. Spear. 1998. Asset write-downs: A decade of research. Journal of Accounting Literature 17: 1-39.
Deng, Z., and B. Lev. 1998. The valuation of acquired R&D. Working paper, New York University.
Easton, P., P. Eddey, and T. Haris. 1993. An investigation of revaluations of tangibles long-lived assets. Journal of Accounting Research 31 (supplement): 1-38.
Elliott, J., and W. Shaw. 1998. Write-offs as accounting procedures to manage perceptions. Journal of Accounting Research 26 (supplement): 91-119
Francis J., J. Hanna, and L. Vincent. 1996. Causes and effects of discretionary asset write-off. Journal of Accounting Research 34 (supplement): 117-134.
Fryxell, E.1990. Business-level process R&D: Patterns and returns under different generic strategic orientation. International Journal of Technology Management 5:41-63.
Heflin, F., and T. Warfield. 1997. Managerial discretion in accounting for asset write-offs. Working Paper University of Wisconsin - Madison.
Hogan, C. and D. Jeter. 1998. The information content of restructuring charges: A contextual analysis. Working paper, Vanderbilt University.
Riedl, Edward J. 2004. An examination of long-lived asset impairments. The Accounting Review. 79. 823-852.
Rosner, R. 2003. Earnings manipulation in failing firms. Contemporary Accounting Research, 20 (2): 361-408.
Schendel, E., and G. Patton. 1978. A simultaneous equation model of corporate strategy. Management Science 24:1611-1625.
Strong, J., and J. Meyer. 1987. Asset write-downs: Managerial incentives and security returns. Journal of Finance (July): 643-661.
Ohlson, J .A. (1980), “Financial ratios and the probabilistic prediction of bankruptcy,” Journal of Accounting Research: 109-131.
Watts, R. and J. Zimmerman 1978. “Towards a Positive Theory of the Determination of Accounting Standards,” The Accounting Review 53 (January):pp112-134.
Zucca, L., and D. Campbell. 1992. A closer look at discretionary write-downs of impairment assets. Accounting Horizons (September): 30-41.
描述 碩士
國立政治大學
經營管理碩士學程(EMBA)
93932303
94
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0093932303
資料類型 thesis
dc.contributor.advisor 林宛瑩zh_TW
dc.contributor.author (Authors) 楊美雪zh_TW
dc.creator (作者) 楊美雪zh_TW
dc.date (日期) 2005en_US
dc.date.accessioned 18-Sep-2009 15:00:33 (UTC+8)-
dc.date.available 18-Sep-2009 15:00:33 (UTC+8)-
dc.date.issued (上傳時間) 18-Sep-2009 15:00:33 (UTC+8)-
dc.identifier (Other Identifiers) G0093932303en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/35431-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 經營管理碩士學程(EMBA)zh_TW
dc.description (描述) 93932303zh_TW
dc.description (描述) 94zh_TW
dc.description.abstract (摘要) 國內35號會計準則公報的實施是會計從歷史成本原則走向公平價值之重要里程碑,在新公報提高財務報表攸關性之同時,卻可能因放棄可靠性而增大企業報導盈餘的空間。是以實施35號公報對企業財務與營運面資訊揭露上之影響,除資產減損認列項目的正確性,認列金額的適足性,相關揭露報導的適當性外,影響資產減損的因素,以及是否具有公司或產業差異性等,均為值得深入探討的議題。

本論文以2004年報及2005年半年報為研究期間,針對資產減損之認列內容是否符合35號公報之規範內容,本研究發現國內上市櫃公司,將原來規範在1號或5號公報、後來納入35號公報受評之資產,在研究期間內認列並報導的資產減損損失合計約為新台幣203億元,分析結果隱喻國內上市櫃公司在適用35號公報時,確有存在不當認列之可能。本研究同時發現在財務報告資訊品質方面存在財務報告附註揭露「會計變動理由及其影響數」以及會計師查核意見書未對適用35號公報予以適當揭露者計有163家;以及母子公司適用35號公報之時點不同者。

至於認列資產減損金額之決定因素,本研究之實證結果發現,企業認列資產減損之大小受獲利能力、經營績效以及資產使用效能等企業營運因素之影響。在企業特性方面,本研究發現負債比例愈高及企業信用風險愈差之企業,其資產減損金額愈大。規模愈大之公司,認列之資產減損愈小;以及資訊電子業者認列顯著較高之資產減損金額。由於企業在適用35號公報上保有彈性判斷之空間,因此本研究發現企業認列資產減損之大小受到企業本身承受能力及洗大澡動機之影響,隱喻35號公報可能是管理當局可以操弄盈餘之工具之ㄧ。
zh_TW
dc.description.abstract (摘要) The implementation of new accounting standard (SFAS No.35) on assets impaired is a milestone of moving from historical cost principle towards fair value principle. As SFAS No. 35 may enhance the relevance of financial information at the cost of reliability, there exists the flexibility of reported earnings through the new communiqué. Based on the importance of the SFAS No.35 on a company’s financial and operational reporting, this thesis investigate the accuracy and adequateness of asset impairment, the appropriateness of reporting and disclosures of asset impairment, the determinants of asset impairment and the characteristics across industry are worth studying into thoroughly.

With the topic of the contents of asset impairment in compliance with SFAS No.35, this study finds that the listed companies in Taiwan recognized and reported as asset impairment in the amount of NT $88,094 million for the study period from December, 2004 to June, 2005, of which approximately amounted to NT $20,300 million should be periodically evaluated in accordance with SFAS No.1 or SFAS No.5 before adoption of SFAS No.35. As a result, it metaphors listed company in Taiwan to use SFAS No.35 as an excuse for written off asset value.

We explored the accuracy of asset impairment loss and the appropriateness of reporting for asset impairment for listed companies in Taiwan. When analyzing the reporting quality, we found that there were 163 financial reports of listed companies in Taiwan without footnote of “Accounting change and its effect” or explanationary paragraph for accounting change in auditors’ opinion for the study period from December, 2004 to June, 2005. In addition, we also found that four companies within two consolidated group started to adopt SFAS No.35 at the different timing against the rule of consistency on the adoption of accounting principle among consolidated entities.

We explored the determinants of asset impairment for the listed companies in Taiwan for the period from December, 2004 to June, 2005. Our empirical results show the following: (1) The size of asset impairment is associated with operational factors such as profitability, operational performance and effectiveness of asset utilization;(2) In the perspective of company characteristic, the size of asset impairment is associated with the debt ratio and worse credit risk ;(3) The bigger company recognized the smaller impairment loss . Compared to other industries ( excluded financial institutions and securities),the huge impairment had been recognized in electronic industry .Since the evaluation of asset value involved a lot of professional judgments , we found that the size of impairment loss was associated with the management reporting motivation and capability to afford such losses . It metaphors that the SFAS No. is one of the vehicle of earning smoothing to be used.
en_US
dc.description.tableofcontents 第一章 緒論 1
第一節 前言 1
第二節 研究目的與研究問題 6
第三節 論文結構 7
第二章 文獻探討 8
第一節 35號公報介紹 8
第二節 資產減損文獻探討 16
第三章 研究方法 23
第一節 研究假說的建立 23
第二節 實證模型與變數衡量 25
第三節 樣本與資料 29
第四章 實證分析結果 35
第一節 資產減損之的認列內容,是否符合35號公報? 35
第二節 國內企業對資產減損認列金額及揭露報導是否適當? 52
第三節 認列資產減損之產業差異 59
第四節 影響國內企業認列資產減損原因之實證結果 61
第五章 結論與建議 72
第一節 研究結論 72
第二節 研究限制及未來研究之建議 73
zh_TW
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dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0093932303en_US
dc.subject (關鍵詞) 資產減損zh_TW
dc.subject (關鍵詞) 35號公報zh_TW
dc.subject (關鍵詞) 盈餘管理zh_TW
dc.subject (關鍵詞) 洗大澡zh_TW
dc.subject (關鍵詞) Asset impairmenten_US
dc.subject (關鍵詞) SFAS No.35en_US
dc.subject (關鍵詞) Earning smoothingen_US
dc.subject (關鍵詞) take a bathen_US
dc.title (題名) 台灣上市櫃公司資產減損之探討zh_TW
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 中文部分:zh_TW
dc.relation.reference (參考文獻) 財團法人中華民國會計研究發展基金會,2004年,財務會計準則公報第35號公報:<資產減損之會計處理準則>,台北:財務會計準則委員會zh_TW
dc.relation.reference (參考文獻) 財團法人中華民國會計研究發展基金會,2005年,財務會計準則公報第34號公報:<金融商品之會計處理準則>,台北:財務會計準則委員會zh_TW
dc.relation.reference (參考文獻) 財團法人中華民國會計研究發展基金會,2005年,財務會計準則公報第1號公報:<財務會計觀念架構及財務報表之編製>,台北:財務會計準則委員會zh_TW
dc.relation.reference (參考文獻) 財團法人中華民國會計研究發展基金會,2005年,財務會計準則公報第5號公報:<採權益法之長期股權投資會計處理準則>,台北:財務會計準則委員會zh_TW
dc.relation.reference (參考文獻) 李智雯,2000,運用現金流量資訊預測企業財務危機之實證研究,國立政治大學會計系碩士論文。zh_TW
dc.relation.reference (參考文獻) 吳清在與謝宛庭,2005,「認列資產減損時點與金額之決定因素與其市場反應」,台灣大學2005年會計與理論實務研討會zh_TW
dc.relation.reference (參考文獻) 林有志與廖宜峰,2005,「公司提前採用資產減損公報之盈餘管理動機」,台灣大學2005年會計與理論實務研討會zh_TW
dc.relation.reference (參考文獻) 陳慶隆,2005,「選擇性新會計準則實施時點對策略性會計報導與資訊攸關性的影響」,朝陽科技大學第九屆財金理論與實務研討會zh_TW
dc.relation.reference (參考文獻) 張廖年任,2003,上市公司股權結構與即時性資訊揭露品質對公司發生財務危機之研究,國立政治大學會計系碩士論文。zh_TW
dc.relation.reference (參考文獻) 劉惠美,2005,「我國上市櫃公司資產減損與企業特色關聯性之研究」,輔仁大學會計學系碩士班zh_TW
dc.relation.reference (參考文獻) 英文部分:zh_TW
dc.relation.reference (參考文獻) FASB.1995.Statement of Financial Accounting Standards No.121: Accounting for the impairment of long-lived assets and for long-lived assets to be disposed of ., Norwark , CT: Financial Accounting Standards Board.zh_TW
dc.relation.reference (參考文獻) FASB.2001.Statement of Financial Accounting Standards No.142: Accounting for the goodwill and other intangible assets. Norwark, CT: Financial Accounting Standards Board.zh_TW
dc.relation.reference (參考文獻) Alciatore ,M., C. Dee, P. Easton, and N. Spear. 1998. Asset write-downs: A decade of research. Journal of Accounting Literature 17: 1-39.zh_TW
dc.relation.reference (參考文獻) Deng, Z., and B. Lev. 1998. The valuation of acquired R&D. Working paper, New York University.zh_TW
dc.relation.reference (參考文獻) Easton, P., P. Eddey, and T. Haris. 1993. An investigation of revaluations of tangibles long-lived assets. Journal of Accounting Research 31 (supplement): 1-38.zh_TW
dc.relation.reference (參考文獻) Elliott, J., and W. Shaw. 1998. Write-offs as accounting procedures to manage perceptions. Journal of Accounting Research 26 (supplement): 91-119zh_TW
dc.relation.reference (參考文獻) Francis J., J. Hanna, and L. Vincent. 1996. Causes and effects of discretionary asset write-off. Journal of Accounting Research 34 (supplement): 117-134.zh_TW
dc.relation.reference (參考文獻) Fryxell, E.1990. Business-level process R&D: Patterns and returns under different generic strategic orientation. International Journal of Technology Management 5:41-63.zh_TW
dc.relation.reference (參考文獻) Heflin, F., and T. Warfield. 1997. Managerial discretion in accounting for asset write-offs. Working Paper University of Wisconsin - Madison.zh_TW
dc.relation.reference (參考文獻) Hogan, C. and D. Jeter. 1998. The information content of restructuring charges: A contextual analysis. Working paper, Vanderbilt University.zh_TW
dc.relation.reference (參考文獻) Riedl, Edward J. 2004. An examination of long-lived asset impairments. The Accounting Review. 79. 823-852.zh_TW
dc.relation.reference (參考文獻) Rosner, R. 2003. Earnings manipulation in failing firms. Contemporary Accounting Research, 20 (2): 361-408.zh_TW
dc.relation.reference (參考文獻) Schendel, E., and G. Patton. 1978. A simultaneous equation model of corporate strategy. Management Science 24:1611-1625.zh_TW
dc.relation.reference (參考文獻) Strong, J., and J. Meyer. 1987. Asset write-downs: Managerial incentives and security returns. Journal of Finance (July): 643-661.zh_TW
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