1. NCCU Academic Hub
  2. Publications
  3. College of Commerce
  4. Theses
  5. Item

Publications-Theses

Article View/Open

Publication Export

Google ScholarTM

NCCU Library

Citation Infomation

Related Publications in TAIR

題名 相同會計師查核關係人交易之雙方對分析師盈餘預測的影響
Same Auditor Auditing Both Sides of Related Party Transactions and Analyst Earnings Forecasts
作者 林欣穎
貢獻者 周玲臺
林欣穎
關鍵詞 關係人交易
相同會計師
分析師盈餘預測準確性
分析師盈餘預測離散程度
Related party transactions
Same auditors
Earnings forecast accuracy
Earnings forecast dispersion
日期 2013
上傳時間 12-Aug-2014 14:00:59 (UTC+8)
摘要 關係人交易普遍存在於我國企業中，且具有相當的重要程度。根據文獻，關係人交易可能會對公司資訊品質造成負面效果。文獻亦指出分析師為公司與投資者間之專業資訊中介者，且係根據企業所發布財務報告之會計資訊作為盈餘預測的重要資訊來源之一，本研究探討關係人交易金額的多寡對分析師盈餘預測特性(準確性與離散程度)之影響，並進一步將關係人交易之雙方分為受相同會計師查核與受不同會計師查核時，對分析師盈餘預測特性之影響。
實證結果指出，當關係人交易金額愈大，分析師盈餘預測愈不準確且離散程度愈大。然而若關係人交易之雙方由相同會計師查核，可以減緩因關係人交易使分析師盈餘預測不準確與離散程度加大之影響。在台灣關係人交易盛行之環境下，關係人交易雙方之會計師選任效果可提供公司治理單位與投資人做為參考。
Related party transactions are prevalent and quite important to public firms in Taiwan. Prior studies find that related party transactions impair firms’ information quality. Literature also documents that analysts play a crucial role as an information intermediary between firms and investors, and they use accounting statements as one information source to make forecasts. The purpose of this research is to examine the effects of firms’ related party transactions on two analyst forecast characteristics, i.e., earnings forecast accuracy and dispersion. We also examine if those effects can be alleviated by same auditors auditing both sides of related party transactions.
Our results show that related party transactions have negative effects on analyst earnings forecasts. We find that the amounts of related party transactions are negatively related with forecast accuracy and positively related with forecast dispersion. We also find that those negative effects are mitigated if both sides of related party transactions are audited by the same auditor. While related party transactions are not unusual in Taiwan, our results can provide insights for firms, investors and regulators.
參考文獻 王姿婷，2009，我國分析師會重視審計品質嗎？事務所還是個人？國立政治大學會計研究所碩士論文。
台灣證券交易所，2007，上市公司29類產業別－7月2日上線宣導手冊。
江淑玲與林麗容，2007，我國中小企業盈餘管理行為之探索性研究─德爾菲法之應用，東吳經濟商學學報，第57期：79-109。
余朝權與楊碧雲，1996，強制性財務預測準確度之影響因素分析，輔仁管理評論，第3卷，第1期：1-28。
李奕萱，2013，關係人交易與審計品質－以台灣高科技公司為例，國立政治大學會計研究所碩士論文。
汪進揚與余俊憲，2004，財務分析師盈餘預測誤差與預測行為影響因素之研究，證券市場發行季刊，第64期：117-144。
周建宏，2010，IAS27合併報表之適用與挑戰，http://www.pwc.tw/zh/ifrs/ifrs-indepth-focus/ifrs-features/ifrs-features-011.jhtml，搜尋日期：2014年6月23日。
林文義，2004，證交所提供線索 會計師追追追 皇統關係人交易 曝光，工商時報，9月17日。
股市精華導覽，2005，為什麼要看合併報表的財務數字？http://valueguide.myweb.hinet.net/consolidated_report.htm，搜尋日期：2014年6月23日。
邱垂昌與黃秀姿，2006，自願設立獨立董事、關係人交易與公司價值關聯性之研究：代理理論與訊號發射理論之比較，Asian Journal of Management and Humanity Sciences，第1卷，第3期：379-403。
邱瓊玲，2011，關係人交易對財務危機預測模式影響之探討，育達科大學報，第26期：31-48。
柯承恩，1999，家族控股、集團企業與盈餘管理之研究，行政院國家科學委員會專題研究計畫成果報告。
財務會計準則委員會，1985，財務會計準則公報第六號－關係人交易之揭露，台北：中華民國會計研究發展基金會。
張瑞當、方俊儒與沈文華，2008，集團企業是否委託同一會計師事務所查核財務報表對其盈餘管理行為之影響，管理評論，第27卷，第2期：29-52。
許智順、簡俱揚、黃媺婷與陳燕錫，2012，產業專家會計師事務所對關係人交易之影響，商管科技季刊，第13卷，第2期：99-129。
程心瑤，2010，審計品質與分析師預測，銘傳大學會計研究所碩士論文。
葉銀華、蘇裕惠、柯承恩與李冠德，2003，公司治理機制對關係人交易的影響，證券市場發展季刊，第15卷，第4期：69-109。
審計準則委員會，2005，審計準則公報第六號－關係人交易之查核，台北：中華民國會計研究發展基金會。
Abarbanell, J. S., and Bushee, B. J. 1997. Fundamental analysis, future earnings, and stock prices. Journal of Accounting Research 35(1): 1-24
Aharony, J., Wang, J., and Yuan, H. (2010). Tunneling as an incentive for earnings management during the IPO process in China. Journal of Accounting and Public Policy 29(1): 1-26.
Barron, O. E., and Stuerke, P. S. 1998. Dispersion in analysts` earnings forecasts as a measure of uncertainty. Journal of Accounting, Auditing & Finance 13(3): 245-270.
Beavor, W. H. 2002. Perspectives on recent capital market research. The Accounting Review 77: 453-474.
Becker, C. L., DeFond, M. L., Jiambalvo, J., and Subramanyam, K. R. 1998. The effect of audit quality on earnings management. Contemporary accounting research 15(1): 1-24.
Behn, B. K., Choi, J. H., and Kang, T. 2008. Audit quality and properties of analyst earnings forecasts. The Accounting Review 83(2): 327-349.
Benston, G. J. 1985. The market for public accounting services: demand, supply and regulation. Journal of Accounting and Public Policy 4(1): 33-79.
Berle, A. A., and Means, G. G. C. 1932. The modern corporation and private property. United States: Transaction Publishers.
Bhushan, R. 1989. Firm characteristics and analyst following. Journal of Accounting and Economics 11(2): 255-274.
Branson, J., and Breesch, D. 2004. Referral as a determining factor for changing auditors in the Belgian auditing market: An empirical study. The International Journal of Accounting 39(3): 307-326.
Brous, P. A., and Kini, O. 1993. A reexamination of analysts` earnings forecasts for takeover targets. Journal of Financial Economics 33(2): 201-225.
Brown, L. D., Hagerman, R. L., Griffin, P. A., and Zmijewski, M. E. 1987a. Security analyst superiority relative to univariate time-series models in forecasting quarterly earnings. Journal of Accounting and Economics 9(1): 61-87.
_____, Richardson, G. D., and Schwager, S. J. 1987b. An information interpretation of financial analyst superiority in forecasting earnings. Journal of Accounting Research 25(3): 49-67.
_____, and Rozeff, M. S. 1978. The superiority of analyst forecasts as measures of expectations: Evidence from earnings. The Journal of Finance 33(1): 1-16.
Chang, J., Khanna, T., and Palepu, K. 2000. Analyst activity around the world. Working Paper, Harvard Business School.
Clement, M. B. 1999. Analyst forecast accuracy: Do ability, resources, and portfolio complexity matter? Journal of Accounting and Economics 27(3): 285-303.
Das, S., Levine, C. B., and Sivaramakrishnan, S. 1998. Earnings predictability and bias in analysts? Earnings forecasts. The Accounting Review 73(2).
DeFond, M. L., Raghunandan, K., and Subramanyam, K. R. 2002. Do non–audit service fees impair auditor independence? Evidence from going concern audit opinions. Journal of Accounting Research 40(4): 1247-1274.
Duru, A., and Reeb, D. M. 2002. International diversification and analysts` forecast accuracy and bias. The Accounting Review 77(2): 415-433.
Fried, D., and Givoly, D. 1982. Financial analysts` forecasts of earnings: A better surrogate for market expectations. Journal of Accounting and Economics 4(2): 85-107.
Givoly, D., and Lakonishok, J. 1979. The information content of financial analysts` forecasts of earnings: Some evidence on semi-strong inefficiency. Journal of Accounting and Economics 1(3): 165-185.
Gordon, E. A., Henry, E., and Palia, D. 2004. Related party transactions and corporate governance. Advances in Financial Economics 9: 1-27.
_____,_____, Louwers, T. J., and Reed, B. J. 2007. Auditing related party transactions: A literature overview and research synthesis. Accounting Horizons 21(1): 81-102.
_____, and _____, 2005. Related party transactions and earnings management. Working paper, Rutgers University.
Hagerman, R. L., and Ruland, W. 1979.Aaccuracy of management forecasts and forecasts of simple alternative models. Journal of Economics and Business 31(3): 172-179.
Han, B. H., and Manry, D. 2000. The implications of dispersion in analysts` earnings forecasts for future ROE and future returns. Journal of Business Finance & Accounting 27(1‐2): 99-125.
Henry, E., Gordon, E. A., Reed, B., and Louwers, T. 2012. The role of related party transactions in fraudulent financial reporting. Journal of Forensic & Investigative Accounting 4(1): 186-213.
Imhoff Jr, E. A., and Lobo, G. J. 1992. The effect of ex ante earnings uncertainty on earnings response coefficients. The Accounting Review 67(4): 427-439.
Jacob, J., Lys, T. Z., and Neale, M. A. 1999. Expertise in forecasting performance of security analysts. Journal of Accounting and Economics 28(1): 51-82.
Jian, M., and Wong, T. J. 2010. Propping through related party transactions. Review of Accounting Studies. 15(1): 70-105.
Johnstone, K. M., and Bedard, J. C. 2004. Audit firm portfolio management decisions. Journal of Accounting Research 42(4): 659-690.
_____, Li, C., and Luo, S. 2011. Client-auditor supply chain relationships, audit quality, and audit pricing. Auditing: A Journal of Practice and Theory. doi: 10.2308/ajpt-50783
Kahle, K. M., and Shastri, K. 2004. Executive loans. Journal of Financial and Quantitative Analysis 39(4): 791-811.
Kohlbeck, M. J., and Mayhew, B. W. 2004 Agency costs, contracting, and related party transactions. Working paper. University of Wisconsin.
Kross, W., Ro, B., and Schroeder, D. 1990. Earnings expectations: The analysts` information advantage. The Accounting Review 461-476.
Lang, M. H., and Lundholm, R. J. 1996. Corporate Disclosure Policy and Analyst Behavior. The Accounting Review 71: 467-492.
Louwers, T. J., Henry, E., Reed, B. J., and Gordon, E. A. 2008. Deficiencies in auditing related-party transactions: Insights from AAERs. Auditing 2(2), A10-A16.
Lo, A. W., Wong, R. M., and Firth, M. 2010. Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China. Journal of Corporate Finance 16(2): 225-235.
Lys, T., and Soo, L. G. 1995. Analysts` forecast precision as a response to competition. Journal of Accounting, Auditing & Finance 10(4): 751-765.
O`brien, P. C. 1988. Analysts` forecasts as earnings expectations. Journal of accounting and Economics 10(1): 53-83.
Payne, J. L., and Robb, S. W. 2000. Earnings management: The effect of ex ante earnings expectations. Journal of Accounting, Auditing & Finance 15(4): 371-392.
Schipper, K. 1991. Analysts’ forecasts. Accounting Horizons 5(4): 105-121.
_____, 1989. Commentary on Earnings Management. Accounting Horizons 3(4): 91-102.
Yeh, Y. H., Shu, P. G., and Su, Y. H. 2012. Related-party transactions and corporate governance: The evidence from the Taiwan stock market. Pacific-Basin Finance Journal 20(5): 755-776.
Wang, J., and Yuan, H. 2012. The Impact of Related Party Sales by Listed Chinese Firms on Earnings Informativeness and Earnings Forecasts. International Journal of Business 17(3): 258-275.
Watkins, A. L., Hillison, W., & Morecroft, S. E. (2004). Audit quality: A synthesis of theory and empirical evidence. Journal of Accounting Literature, 23(1), 153-193.
描述 碩士
國立政治大學
會計研究所
101353042
102
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0101353042
資料類型 thesis
dc.contributor.advisor 周玲臺zh_TW
dc.contributor.author (Authors) 林欣穎zh_TW
dc.creator (作者) 林欣穎zh_TW
dc.date (日期) 2013en_US
dc.date.accessioned 12-Aug-2014 14:00:59 (UTC+8)-
dc.date.available 12-Aug-2014 14:00:59 (UTC+8)-
dc.date.issued (上傳時間) 12-Aug-2014 14:00:59 (UTC+8)-
dc.identifier (Other Identifiers) G0101353042en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/68523-
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) 101353042zh_TW
dc.description (描述) 102zh_TW
dc.description.abstract (摘要) 關係人交易普遍存在於我國企業中，且具有相當的重要程度。根據文獻，關係人交易可能會對公司資訊品質造成負面效果。文獻亦指出分析師為公司與投資者間之專業資訊中介者，且係根據企業所發布財務報告之會計資訊作為盈餘預測的重要資訊來源之一，本研究探討關係人交易金額的多寡對分析師盈餘預測特性(準確性與離散程度)之影響，並進一步將關係人交易之雙方分為受相同會計師查核與受不同會計師查核時，對分析師盈餘預測特性之影響。
實證結果指出，當關係人交易金額愈大，分析師盈餘預測愈不準確且離散程度愈大。然而若關係人交易之雙方由相同會計師查核，可以減緩因關係人交易使分析師盈餘預測不準確與離散程度加大之影響。在台灣關係人交易盛行之環境下，關係人交易雙方之會計師選任效果可提供公司治理單位與投資人做為參考。		zh_TW
dc.description.abstract (摘要) Related party transactions are prevalent and quite important to public firms in Taiwan. Prior studies find that related party transactions impair firms’ information quality. Literature also documents that analysts play a crucial role as an information intermediary between firms and investors, and they use accounting statements as one information source to make forecasts. The purpose of this research is to examine the effects of firms’ related party transactions on two analyst forecast characteristics, i.e., earnings forecast accuracy and dispersion. We also examine if those effects can be alleviated by same auditors auditing both sides of related party transactions.
Our results show that related party transactions have negative effects on analyst earnings forecasts. We find that the amounts of related party transactions are negatively related with forecast accuracy and positively related with forecast dispersion. We also find that those negative effects are mitigated if both sides of related party transactions are audited by the same auditor. While related party transactions are not unusual in Taiwan, our results can provide insights for firms, investors and regulators.		en_US
dc.description.tableofcontents 第一章 緒論....1
第一節 研究背景與動機....1
第二節 研究問題....6
第三節 研究設計....10
第四節 研究目的與貢獻....11
第五節 論文章節....13
第二章 文獻探討....14
第一節 關係人交易....14
第二節 分析師盈餘預測....18
第三章 研究方法....21
第一節 研究假說....21
第二節 樣本選取與資料蒐集....23
第三節 研究模型與變數衡量....29
第四章 實證結果....40
第一節 敘述性統計分析....40
第二節 相關係數分析 ....44
第三節 複迴歸結果分析....49
第四節 敏感性測試....64
第五節 額外測試....78
第五章 結論與建議....85
第一節 研究結論....85
第二節 研究限制與研究建議....87
附錄....88
附錄A 關係人交易歷年發生情形 ....88
附錄B 關係人交易與分析師盈餘預測在各產業的分布情形....92
參考文獻....96		zh_TW
dc.format.extent 1940883 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0101353042en_US
dc.subject (關鍵詞) 關係人交易zh_TW
dc.subject (關鍵詞) 相同會計師zh_TW
dc.subject (關鍵詞) 分析師盈餘預測準確性zh_TW
dc.subject (關鍵詞) 分析師盈餘預測離散程度zh_TW
dc.subject (關鍵詞) Related party transactionsen_US
dc.subject (關鍵詞) Same auditorsen_US
dc.subject (關鍵詞) Earnings forecast accuracyen_US
dc.subject (關鍵詞) Earnings forecast dispersionen_US
dc.title (題名) 相同會計師查核關係人交易之雙方對分析師盈餘預測的影響zh_TW
dc.title (題名) Same Auditor Auditing Both Sides of Related Party Transactions and Analyst Earnings Forecastsen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 王姿婷，2009，我國分析師會重視審計品質嗎？事務所還是個人？國立政治大學會計研究所碩士論文。
台灣證券交易所，2007，上市公司29類產業別－7月2日上線宣導手冊。
江淑玲與林麗容，2007，我國中小企業盈餘管理行為之探索性研究─德爾菲法之應用，東吳經濟商學學報，第57期：79-109。
余朝權與楊碧雲，1996，強制性財務預測準確度之影響因素分析，輔仁管理評論，第3卷，第1期：1-28。
李奕萱，2013，關係人交易與審計品質－以台灣高科技公司為例，國立政治大學會計研究所碩士論文。
汪進揚與余俊憲，2004，財務分析師盈餘預測誤差與預測行為影響因素之研究，證券市場發行季刊，第64期：117-144。
周建宏，2010，IAS27合併報表之適用與挑戰，http://www.pwc.tw/zh/ifrs/ifrs-indepth-focus/ifrs-features/ifrs-features-011.jhtml，搜尋日期：2014年6月23日。
林文義，2004，證交所提供線索 會計師追追追 皇統關係人交易 曝光，工商時報，9月17日。
股市精華導覽，2005，為什麼要看合併報表的財務數字？http://valueguide.myweb.hinet.net/consolidated_report.htm，搜尋日期：2014年6月23日。
邱垂昌與黃秀姿，2006，自願設立獨立董事、關係人交易與公司價值關聯性之研究：代理理論與訊號發射理論之比較，Asian Journal of Management and Humanity Sciences，第1卷，第3期：379-403。
邱瓊玲，2011，關係人交易對財務危機預測模式影響之探討，育達科大學報，第26期：31-48。
柯承恩，1999，家族控股、集團企業與盈餘管理之研究，行政院國家科學委員會專題研究計畫成果報告。
財務會計準則委員會，1985，財務會計準則公報第六號－關係人交易之揭露，台北：中華民國會計研究發展基金會。
張瑞當、方俊儒與沈文華，2008，集團企業是否委託同一會計師事務所查核財務報表對其盈餘管理行為之影響，管理評論，第27卷，第2期：29-52。
許智順、簡俱揚、黃媺婷與陳燕錫，2012，產業專家會計師事務所對關係人交易之影響，商管科技季刊，第13卷，第2期：99-129。
程心瑤，2010，審計品質與分析師預測，銘傳大學會計研究所碩士論文。
葉銀華、蘇裕惠、柯承恩與李冠德，2003，公司治理機制對關係人交易的影響，證券市場發展季刊，第15卷，第4期：69-109。
審計準則委員會，2005，審計準則公報第六號－關係人交易之查核，台北：中華民國會計研究發展基金會。
Abarbanell, J. S., and Bushee, B. J. 1997. Fundamental analysis, future earnings, and stock prices. Journal of Accounting Research 35(1): 1-24
Aharony, J., Wang, J., and Yuan, H. (2010). Tunneling as an incentive for earnings management during the IPO process in China. Journal of Accounting and Public Policy 29(1): 1-26.
Barron, O. E., and Stuerke, P. S. 1998. Dispersion in analysts` earnings forecasts as a measure of uncertainty. Journal of Accounting, Auditing & Finance 13(3): 245-270.
Beavor, W. H. 2002. Perspectives on recent capital market research. The Accounting Review 77: 453-474.
Becker, C. L., DeFond, M. L., Jiambalvo, J., and Subramanyam, K. R. 1998. The effect of audit quality on earnings management. Contemporary accounting research 15(1): 1-24.
Behn, B. K., Choi, J. H., and Kang, T. 2008. Audit quality and properties of analyst earnings forecasts. The Accounting Review 83(2): 327-349.
Benston, G. J. 1985. The market for public accounting services: demand, supply and regulation. Journal of Accounting and Public Policy 4(1): 33-79.
Berle, A. A., and Means, G. G. C. 1932. The modern corporation and private property. United States: Transaction Publishers.
Bhushan, R. 1989. Firm characteristics and analyst following. Journal of Accounting and Economics 11(2): 255-274.
Branson, J., and Breesch, D. 2004. Referral as a determining factor for changing auditors in the Belgian auditing market: An empirical study. The International Journal of Accounting 39(3): 307-326.
Brous, P. A., and Kini, O. 1993. A reexamination of analysts` earnings forecasts for takeover targets. Journal of Financial Economics 33(2): 201-225.
Brown, L. D., Hagerman, R. L., Griffin, P. A., and Zmijewski, M. E. 1987a. Security analyst superiority relative to univariate time-series models in forecasting quarterly earnings. Journal of Accounting and Economics 9(1): 61-87.
_____, Richardson, G. D., and Schwager, S. J. 1987b. An information interpretation of financial analyst superiority in forecasting earnings. Journal of Accounting Research 25(3): 49-67.
_____, and Rozeff, M. S. 1978. The superiority of analyst forecasts as measures of expectations: Evidence from earnings. The Journal of Finance 33(1): 1-16.
Chang, J., Khanna, T., and Palepu, K. 2000. Analyst activity around the world. Working Paper, Harvard Business School.
Clement, M. B. 1999. Analyst forecast accuracy: Do ability, resources, and portfolio complexity matter? Journal of Accounting and Economics 27(3): 285-303.
Das, S., Levine, C. B., and Sivaramakrishnan, S. 1998. Earnings predictability and bias in analysts? Earnings forecasts. The Accounting Review 73(2).
DeFond, M. L., Raghunandan, K., and Subramanyam, K. R. 2002. Do non–audit service fees impair auditor independence? Evidence from going concern audit opinions. Journal of Accounting Research 40(4): 1247-1274.
Duru, A., and Reeb, D. M. 2002. International diversification and analysts` forecast accuracy and bias. The Accounting Review 77(2): 415-433.
Fried, D., and Givoly, D. 1982. Financial analysts` forecasts of earnings: A better surrogate for market expectations. Journal of Accounting and Economics 4(2): 85-107.
Givoly, D., and Lakonishok, J. 1979. The information content of financial analysts` forecasts of earnings: Some evidence on semi-strong inefficiency. Journal of Accounting and Economics 1(3): 165-185.
Gordon, E. A., Henry, E., and Palia, D. 2004. Related party transactions and corporate governance. Advances in Financial Economics 9: 1-27.
_____,_____, Louwers, T. J., and Reed, B. J. 2007. Auditing related party transactions: A literature overview and research synthesis. Accounting Horizons 21(1): 81-102.
_____, and _____, 2005. Related party transactions and earnings management. Working paper, Rutgers University.
Hagerman, R. L., and Ruland, W. 1979.Aaccuracy of management forecasts and forecasts of simple alternative models. Journal of Economics and Business 31(3): 172-179.
Han, B. H., and Manry, D. 2000. The implications of dispersion in analysts` earnings forecasts for future ROE and future returns. Journal of Business Finance & Accounting 27(1‐2): 99-125.
Henry, E., Gordon, E. A., Reed, B., and Louwers, T. 2012. The role of related party transactions in fraudulent financial reporting. Journal of Forensic & Investigative Accounting 4(1): 186-213.
Imhoff Jr, E. A., and Lobo, G. J. 1992. The effect of ex ante earnings uncertainty on earnings response coefficients. The Accounting Review 67(4): 427-439.
Jacob, J., Lys, T. Z., and Neale, M. A. 1999. Expertise in forecasting performance of security analysts. Journal of Accounting and Economics 28(1): 51-82.
Jian, M., and Wong, T. J. 2010. Propping through related party transactions. Review of Accounting Studies. 15(1): 70-105.
Johnstone, K. M., and Bedard, J. C. 2004. Audit firm portfolio management decisions. Journal of Accounting Research 42(4): 659-690.
_____, Li, C., and Luo, S. 2011. Client-auditor supply chain relationships, audit quality, and audit pricing. Auditing: A Journal of Practice and Theory. doi: 10.2308/ajpt-50783
Kahle, K. M., and Shastri, K. 2004. Executive loans. Journal of Financial and Quantitative Analysis 39(4): 791-811.
Kohlbeck, M. J., and Mayhew, B. W. 2004 Agency costs, contracting, and related party transactions. Working paper. University of Wisconsin.
Kross, W., Ro, B., and Schroeder, D. 1990. Earnings expectations: The analysts` information advantage. The Accounting Review 461-476.
Lang, M. H., and Lundholm, R. J. 1996. Corporate Disclosure Policy and Analyst Behavior. The Accounting Review 71: 467-492.
Louwers, T. J., Henry, E., Reed, B. J., and Gordon, E. A. 2008. Deficiencies in auditing related-party transactions: Insights from AAERs. Auditing 2(2), A10-A16.
Lo, A. W., Wong, R. M., and Firth, M. 2010. Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China. Journal of Corporate Finance 16(2): 225-235.
Lys, T., and Soo, L. G. 1995. Analysts` forecast precision as a response to competition. Journal of Accounting, Auditing & Finance 10(4): 751-765.
O`brien, P. C. 1988. Analysts` forecasts as earnings expectations. Journal of accounting and Economics 10(1): 53-83.
Payne, J. L., and Robb, S. W. 2000. Earnings management: The effect of ex ante earnings expectations. Journal of Accounting, Auditing & Finance 15(4): 371-392.
Schipper, K. 1991. Analysts’ forecasts. Accounting Horizons 5(4): 105-121.
_____, 1989. Commentary on Earnings Management. Accounting Horizons 3(4): 91-102.
Yeh, Y. H., Shu, P. G., and Su, Y. H. 2012. Related-party transactions and corporate governance: The evidence from the Taiwan stock market. Pacific-Basin Finance Journal 20(5): 755-776.
Wang, J., and Yuan, H. 2012. The Impact of Related Party Sales by Listed Chinese Firms on Earnings Informativeness and Earnings Forecasts. International Journal of Business 17(3): 258-275.
Watkins, A. L., Hillison, W., & Morecroft, S. E. (2004). Audit quality: A synthesis of theory and empirical evidence. Journal of Accounting Literature, 23(1), 153-193.		zh_TW