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題名 員工認股權、公司治理特性與盈餘管理關聯性之研究
作者 連偵均
貢獻者 林宛瑩
連偵均
關鍵詞 員工認股權
激勵性獎酬
盈餘管理
employee stock options
pay-for-performance
earnings management
日期 2008
上傳時間 8-Dec-2010 14:03:12 (UTC+8)
摘要 本研究以2002年至2007年曾發行員工認股權之國內上市(櫃)公司為研究樣本,首先從公司特性及股權結構之觀點,分析公司選擇發行員工認股權之決定性因素。此外,本研究進一步以績效調整後之盈餘管理幅度為應變數,從員工認股權佔總獎酬之重要程度,探討員工認股權、公司治理特性與盈餘管理之關聯性。
實證結果顯示,在公司發行員工認股權之決定性因素方面,公司成長機會、人力資源貢獻度、員工股票分紅比率與公司發行員工認股權之可能性呈顯著正向關係,而自由現金流量、股權結構綜合指標則與公司發行員工認股權之可能性呈顯著負向關係。在探討員工認股權、公司治理特性與盈餘管之關聯性方面,員工認股權佔總獎酬之比例與盈餘管理幅度呈顯著正向關係,而公司治理特性綜合指標則與盈餘管理幅度呈顯著負向關係。
Based on a sample of Taiwanese companies has been issued employee stock option listed in Taiwan Securities Exchange over the period of 2002-2007. First, this thesis analyses the determinant of the company issued employee stock options of the company characteristics and ownership structure. Second, uses the performance matched discretionary accruals and the employee stock option of the total compensation to explore the impacts of employee stock options and corporate governance characteristics on the earnings management.
The empirical results show that in the determinant of the company issued employee stock options, the company`s growth opportunities, the contribution of human resources, employee stock bonus to total bonus and the possibility of issued employee stock options was a significant positive relationship, and free cash flow, ownership structure composite indicator the possibility of issued employee stock options was a significant negative to the relationship. In the impacts of employee stock options and corporate governance characteristics on the earnings management, the employee stock option of total compensation and earnings management was a significant positive relationship. The corporate governance and earnings management was a significant negative relationship.
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描述 碩士
國立政治大學
會計研究所
96353043
97
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0096353043
資料類型 thesis
dc.contributor.advisor 林宛瑩zh_TW
dc.contributor.author (Authors) 連偵均zh_TW
dc.creator (作者) 連偵均zh_TW
dc.date (日期) 2008en_US
dc.date.accessioned 8-Dec-2010 14:03:12 (UTC+8)-
dc.date.available 8-Dec-2010 14:03:12 (UTC+8)-
dc.date.issued (上傳時間) 8-Dec-2010 14:03:12 (UTC+8)-
dc.identifier (Other Identifiers) G0096353043en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/49567-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 會計研究所zh_TW
dc.description (描述) 96353043zh_TW
dc.description (描述) 97zh_TW
dc.description.abstract (摘要) 本研究以2002年至2007年曾發行員工認股權之國內上市(櫃)公司為研究樣本,首先從公司特性及股權結構之觀點,分析公司選擇發行員工認股權之決定性因素。此外,本研究進一步以績效調整後之盈餘管理幅度為應變數,從員工認股權佔總獎酬之重要程度,探討員工認股權、公司治理特性與盈餘管理之關聯性。
實證結果顯示,在公司發行員工認股權之決定性因素方面,公司成長機會、人力資源貢獻度、員工股票分紅比率與公司發行員工認股權之可能性呈顯著正向關係,而自由現金流量、股權結構綜合指標則與公司發行員工認股權之可能性呈顯著負向關係。在探討員工認股權、公司治理特性與盈餘管之關聯性方面,員工認股權佔總獎酬之比例與盈餘管理幅度呈顯著正向關係,而公司治理特性綜合指標則與盈餘管理幅度呈顯著負向關係。
zh_TW
dc.description.abstract (摘要) Based on a sample of Taiwanese companies has been issued employee stock option listed in Taiwan Securities Exchange over the period of 2002-2007. First, this thesis analyses the determinant of the company issued employee stock options of the company characteristics and ownership structure. Second, uses the performance matched discretionary accruals and the employee stock option of the total compensation to explore the impacts of employee stock options and corporate governance characteristics on the earnings management.
The empirical results show that in the determinant of the company issued employee stock options, the company`s growth opportunities, the contribution of human resources, employee stock bonus to total bonus and the possibility of issued employee stock options was a significant positive relationship, and free cash flow, ownership structure composite indicator the possibility of issued employee stock options was a significant negative to the relationship. In the impacts of employee stock options and corporate governance characteristics on the earnings management, the employee stock option of total compensation and earnings management was a significant positive relationship. The corporate governance and earnings management was a significant negative relationship.
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 研究問題與貢獻 6
第三節 論文架構 8
第二章 文獻探討 9
第一節 員工認股權制度介紹 9
第二節 發行員工認股權之決定性因素 16
第三節 員工認股權、公司治理特性與盈餘管理之關聯性 20
第三章 研究設計 31
第一節 研究假說 31
第二節 實證模型及變數定義 35
第三節 資料來源與處理 45
第四章 實證結果 47
第一節 發行員工認股權之決定性因素 47
第二節 員工認股權、公司治理特性與盈餘管理之關聯性 55
第三節 敏感性分析 65
第五章 結論與建議 68
第一節 研究結論 68
第二節 研究限制及研究建議 70
參考文獻 71
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dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0096353043en_US
dc.subject (關鍵詞) 員工認股權zh_TW
dc.subject (關鍵詞) 激勵性獎酬zh_TW
dc.subject (關鍵詞) 盈餘管理zh_TW
dc.subject (關鍵詞) employee stock optionsen_US
dc.subject (關鍵詞) pay-for-performanceen_US
dc.subject (關鍵詞) earnings managementen_US
dc.title (題名) 員工認股權、公司治理特性與盈餘管理關聯性之研究zh_TW
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 工商時報,2006.9.22,員工分紅費用化 2大配套出爐。zh_TW
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