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系統識別號 U0002-0507201000265900
中文論文名稱 金融危機期間公平價值會計資訊之價值攸關性
英文論文名稱 The Value Relevance of Fair value Accounting Information During Financial Crisis
校院名稱 淡江大學
系所名稱(中) 會計學系碩士班
系所名稱(英) Department of Accounting
學年度 98
學期 2
出版年 99
研究生中文姓名 吳婕妤
研究生英文姓名 Chieh-yu, Wu
學號 697600376
學位類別 碩士
語文別 中文
口試日期 2010-06-11
論文頁數 59頁
口試委員 指導教授-葉金成
委員-吳婕妤
中文關鍵字 金融危機  公平價值會計  價值攸關性  會計基礎評價模式 
英文關鍵字 Financial Crisis  Fair Value Accounting  Value Relevance  Residual Income Valuation Model 
學科別分類 學科別社會科學商學
中文摘要 2007年金融危機發生以來,學術和實業界認為公平價值會計會使企業價值產生較大波動且不易計價,是導致危機發生的原因之一。因此,瞭解危機期間公平價值會計資訊是否具有價值攸關性,是重要議題。本研究以Ohlson (1995)之會計基礎評價模式為實證的理論基礎,2000-2008年台灣上市櫃非金融保險證券業公司為樣本。首先探討公平價值會計的實施,是否有改變權益價值和盈餘資訊攸關性之知覺結構?接著比較公平價值會計實施後之非金融危機與金融危機期間,投資人對權益價值和盈餘資訊兩者之攸關性是否有改變?實證結果顯示1.投資人在實施公平價值會計後重視權益價值攸關性高於盈餘攸關性,與實施歷史成本會計期間相反,故有結構性的改變;2. 已實施公平價值會計之企業,在金融危機期間其攸關性結構與前者相同,然權益帳面價值攸關性較非危機期間減少,而盈餘攸關性反而增加。
英文摘要 Since the 2007 Global financial crisis, many articles pointed out that the fair value accounting could make a greater volatility of the enterprise value and difficult valuation, is one of the causes of the crisis. Therefore, to understand that whether fair value accounting information remain value relevance during financial crisis is an important issue. In this study, based on the Ohlson's (1995) Residual Income Valuation Model, test using the sample of Taiwan companies of non-bank and insurance companies over the 2000-2008 period. The findings show that the investors emphasis relevance from equity book value than earnings after implementing fair value accounting, contrary to historical cost accounting, it is a structural change. Additionally, the enterprise that implemented fair value accounting, its relevance structure during financial crisis is similar to non-crisis. However, the value relevance of equity book value during the crisis less than non-crisis, while increased on earnings information.
論文目次 目錄
第壹章 緒論         1
第一節  研究背景及動機 1
第二節  研究目的     3
第三節  研究架構     4
第四節  研究流程     5
第貳章 文獻探討     6
第一節  金融危機     6
第二節  財務報表之價值攸關性 10
第三節  公平價值會計     18
第四節  淨盈餘評價模式 24
第參章 研究方法     28
第一節  研究假說     28
第二節  實證模型     30
第三節  變數定義與衡量 32
第四節  樣本選取與資料來源 33
第五節  統計分析方法     35
第肆章 實證結果與分析     37
第一節  變數之敘述性統計量 37
第二節  相關係數分析     39
第三節  會計資訊之價值攸關性 41
第四節  敏感性分析     47
第伍章 結論與建議     53
第一節  結論         53
第二節  研究建議     54
第三節  研究貢獻與限制 54
參考文獻         56

表目錄
【表3-1】樣本公司之市場別及產業分布狀況        34
【表4-1】變數之敘述性統計量              38
【表4-2】變數之相關係數                40
【表4-3】財務報表會計資訊攸關性變動之迴歸分析結果   42
【表4-3】財務報表會計資訊攸關性變動之迴歸分析結果(續)43
【表4-4】財務報表會計資訊攸關性差異檢定        45
【表4-5】財務報表會計資訊攸關性差異檢定-敏感性分析(4月底股價)   48
【表4-6】財務報表會計資訊攸關性差異檢定-敏感性分析(電子產業)   49
【表4-7】財務報表會計資訊攸關性差異檢定-敏感性分析(加入2009年樣本) 52

圖目錄
【圖1-1】研究流程圖                5
【圖4-1】權益帳面價值及每股盈餘標準化係數趨勢圖  44
【圖4-2】權益帳面價值標準化係數趨勢圖       50
【圖4-3】每股盈餘標準化係數趨勢圖         51

參考文獻 參考文獻
中文部分
財務會計準則委員會,財務會計準則公報第一號至第四十一號,財團法人中華民國會計研究發展基金會。
李華、王泰昌,2003,「價值攸關性:權益淨值與內在價值」,證券市場發展季刊,第15卷第3期:63-104。
陳美菊,2009,「全球金融危機之成因、影響及因應」,經濟研究,第9期:261-296。
陳慶隆,2007,「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」,台灣管理學刊,第7卷第1期:43-72。
黃婷偉,2009,「公平價值會計準則對會計資訊攸關性之影響」,淡江大學會計研究所未出版碩士論文。
葉疏、王瑄,2009,「員工分紅配股會計處理之價值攸關性探討」,證券市場發展季刊,第21卷第1期:163-194。
顏信輝、顏裕芳,2002,「無形資產與台灣股票評價攸關性之研究-股市週期與產業別之影響」,當代會計,第3卷第2期:121-147。
英文部分
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