公司若想在市場中獲得競爭優勢時，必會思考應採取何種競爭策略。每間公司在設計、研發產品時，都需要透過策略來決定目標客群、市場定位、賣什麼產品，並做市場調查，找出自己的優勢在於何處，而此優勢是否繼續持續下去，需要將資金投入哪些關鍵因素上(大前研ㄧ, 1985)，為了避免成本及獲利等資訊外流到市場，企業管理者可能採用盈餘管理的手法來降低與競爭者之間以價格競爭的模式或是防止外部潛在競爭者的進入。
    本研究以2016年天下雜誌公布的前500大製造業為樣本，探討公司競爭策略選擇與盈餘管理的關係。市場競爭是否為公司競爭策略與盈餘管理之干擾變數。研究結果顯示，採成本領導競爭策略的企業確實較易採取應計與實質盈餘管理的行為，反之，採差異化競爭策略的企業則較不易進行實質盈餘管理。另外，本研究發現當市場上同產業競爭對手增加時，採成本領導及差異化競爭策略之企業對盈餘管理並無顯著影響。在額外測試部分，製造業中有些產業(例如：紡織工業、電機機械、化學工業、電腦及週邊設備業及通訊網路業)採取成本領導策略較有可能從事實質盈餘管理的行為，另外有些產業(例如：半導體業、光電業、電子零組件業及其他電子業)採取差異化競爭策略則較不易從事實質盈餘管理。

In order to gain a competitive advantage in the market, corporate managers must first decide which business strategy to adopt. When designing and developing products, each company needs to use strategies to determine its target customers, market positioning, and what products to sell. In addition, they need to conduct market research to find out their competitive advantage and the longevity of this advantage as well as what key factors to invest in (Kenichi Ohmae, 1985). In an attempt to avoid the outflow of information costs, profits and other important information, corporate managers may engage in earnings management. Moreover, managing earnings can also decline the price competition between competitors or attract potential external competitors into the market. In our research, we use the 2016 CommonWealth Magazine announcement of the top 500 manufacturing industries in Taiwan as our sample to examine the relationship between competitive strategies and earnings management. This study also explores whether market competition moderates the relationship between competitive strategy and earnings management. The results of the research show that firms which adopt cost leadership strategy compared to differentiation strategy engage in accrual and real earnings management to a greater extent. In addition, firms which adopt differentiation strategy are less likely to engage in real earnings management. Furthermore, our research also shows that as competition increases, the level of earnings management by firms that adopt either cost leadership or differentiation strategy is not affected. In the additional testing section, some industries in the manufacturing industry (such as textile, electrical machinery, chemical, computer and peripheral equipment and communication network industries) that adopt cost-leadership strategies are more likely to engage in real earnings management. On the other hand, industries (such as semiconductor, optoelectronics, electronic components and other electronics industries) are less likely to engage in real earnings management when they adopt differentiation strategies.

目錄
第壹章  緒論 1
第一節  研究背景與動 1
第二節  研究目的 4
第三節  研究流程 5
第四節  論文架構 6
第貳章  文獻探討及假說推導 7
第一節  理論基礎 7
第二節  公司策略 14
第三節  盈餘管理 22
第四節  競爭策略與盈餘管理的關聯 26
第參章  研究方法 32
第一節  研究架構 32
第二節  研究變數定義與衡量 33
第三節  實證模型 41
第四節  樣本選取與資料來源 45
第五節  統計方法 47
第肆章  實證結果與分析 48
第一節  基本資料分析 48
第二節  假設檢定與鑑定 54
第三節  額外測試 59
第伍章  研究結論與建議 60
第一節  研究結論 60
第二節  研究限制 61
第三節  研究建議 62
第四節  研究貢獻 63
參考文獻
中文文獻 64
英文文獻 65
附錄A 2016年前500大製造業 77
附錄B 競爭策略與盈餘管理-分年度 83
附錄C 競爭策略與應計項目盈餘管理-分產業 84
附錄D 競爭策略與實質盈餘管理-分產業 86


圖目錄
圖1-1 研究流程圖 5
圖2-1 Michael Porter鑽石理論 11
圖2-2 Barney資源特性及持續競爭優勢之關係 13
圖3-1 研究架構圖 32
圖4-1 2014-2016年大盤走勢 59


表目錄
表2-1 產業分析(徐作聖，陳仁帥) 12
表2-2 Ansoff 經營策略矩陣 17
表2-3 大前研一 四種基本競爭策略 18
表2-4 Porter 競爭策略矩陣 19
表3-1 變數定義與衡量彙總表 45
表3-2 樣本採用情形 46
表3-3 樣本於各產業中分布的情形 46
表4-1a 探索性因素分析的旋轉成分矩陣 49
表4-1b 探索性因素分析的旋轉成分矩陣 49
表4-2 敘述性統計 51
表4-3 Pearson相關係數矩陣 53
表4-4 VIF檢驗 54
表4-5 競爭策略對盈餘管理的多元迴歸分析 55
表4-6 競爭策略、市場競爭與盈餘管理的多元迴歸分析 58

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