淡江大學覺生紀念圖書館 (TKU Library)

系統識別號 U0002-2507200713562600
中文論文名稱 影響美國資產減損之會計決策因素及資訊內涵研究
英文論文名稱 Determinants and Information Content of U.S. Long-lived Assets Impairments
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 95
學期 2
出版年 96
研究生中文姓名 林志彥
研究生英文姓名 Chih-Yen Lin
學號 694470492
學位類別 碩士
語文別 中文
口試日期 2007-06-27
論文頁數 52頁
口試委員 指導教授-曹嘉玲
中文關鍵字 固定資產  減損損失  盈餘管理  資訊內涵 
英文關鍵字 SFAS No.144  assets impairments  earning management  information content 
學科別分類 學科別社會科學商學
中文摘要 美國於2001年10月公布並實施SFAS No.144: Accounting for the Impairment or Disposal of Long-Lived Assets,此號公報正式取代SFAS No.121,其最重大的影響在於獨立進行固定資產減損的測試,而不再與商譽等無形資產共同評估使用價值,使本研究得以針對固定資產部分進行研究。本研究首先探討美國上市公司是否利用SFAS No.144當中的固定資產減損規範進行盈餘管理,並針對是否認列資產減損損失及其金額大小進行研究,本研究發現當公司的盈餘低於正常盈餘時,經理人會傾向認列資產減損且會認列較大之減損損失,出現洗大澡的行為;而當公司的盈餘高於正常盈餘時,經理人傾向認列資產減損損失,符合盈餘平穩化的現象;此外,公司若有高階經理人變動時,公司則會認列較大之減損金額。第二部分則探討資產減損損失宣告對市場反應之影響,研究結果顯示,當資產減損損失都被投資人視為非預期時,會與股價呈現顯著負相關;而將資產減損損失區分為預期及非預期兩部分後,發現不論是預期減損損失或非預期減損損失皆會與股價呈現顯著負向關係。總體而言,本文之研究結果發現在SFAS No.144的規範下,認列資產減損損失與其金額之大小,會受到盈餘管理動機的影響,而且資本市場會對資產減損損失的宣告產生負向反應。
英文摘要 The Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards (SFAS) No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets” in October 2002.This statement supersedes SFAS No.121, and the most important amendment is to establish a single accounting model in long-lived assets evaluation, instead recognizing goodwill impairment in advance during the assets evaluating procedure. This research examines determinants and information content of U.S. long-lived assets impairments. Results indicate that the managers intend to recognize assets impairment and enounce more impairment when earnings are lower than normal earnings estimation, so called “Big Bath”. And, “Income Smoothing” behavior has a high association with impairment recognition. Further, the result shows that the companies will report more impairment if the firms experience a change in senior management. The research also examines market reaction to write-offs by dividing impairment loss into two categories: anticipated and unanticipated impairment loss. However, these two categories are both significant negative , not corresponding to the suggestion. Overall, empirical results reveal the behaviour of earnings management and negative reaction between capital market return and long-lived assets impairment under SFAS No.144.
論文目次 【目錄】
第一章 緒論 1
第一節 研究背景 1
第二節 研究動機 2
第三節 研究目的 3
第四節 研究貢獻 3
第四節 研究流程 4
第二章 文獻探討 6
第一節 SFAS No.144之背景 6
第二節 長期性資產減損與盈餘管理 11
第三節 長期性資產減損與資本市場相關文獻 18
第三章 研究設計 21
第一節 研究假說 21
第二節 研究模型與變數定義 22
第三節 統計分析方法 28
第四節 研究期間、樣本與範圍 32
第四章 研究結果 37
第一節 敘述性統計分析 37
第二節 單變量檢定實證結果與分析 38
第三節 複變量檢定實證結果與分析 41
第五章 研究結論、限制與建議 48
第一節 研究結論 48
第二節 研究限制與建議 49

圖一 研究流程 5
圖二 觀察期、估計期與事件期 29

表 一 SFAS No.144之長期性資產減損處理 10
表 二 樣本選取過程 34
表 三 樣本產業分類狀況 35
表 四 樣本公司敘述性統計 37
表 五 單變量檢定—相關分析 39
表 六 影響資產減損損失金額之決定性因素 42
表 七 影響認列資產減損損失之決定性因素 44
表 八 資產減損對股價的影響 47

參考文獻 一、中文部分:
林嬋娟、蔡彥卿、戚務君. 1993. 自願性會計方法改變與股價變動的關聯性分析. 會計研究月刊 92:88-92.
Aboody, D. 1996. Recognition versus Disclosure in the Oil and Gas Industry. Journal of Accounting Research 34:21-32.
Alchian, A. A., and H. Demsetz. 1972. Production, Information Costs, and Economic Organization. The American Economic Review 62 (5):777-795.
Bartov, E. 1993. The Timing of Asset Sales and Earnings Manipulation. The Accounting Review 68 (4):840-855.
Bartov, E., F. W. Lindahl, and W. E. Ricks. 1998. Stock Price Behavior Around Announcements of Write-Offs. Review of Accounting Studies 3 (4):327-346.
Beidlerman, C. R. 1973. Income Smoothing - The Role of Management. The Accounting Review 48 (4):653.
Bhat, V. N. 1996. Banks and income smoothing: an empirical analysis. Applied Financial Economics 6 (6):505-510.
Cahan, S. F. 1992. The Effect of Antitrust Investigations on Discretionary Accruals: A Refined Test of the Political-Cost Hypothesis. The Accounting Review 67 (1):77-95.
Chao, C. L., R. Kelsey, S. M. Horng, and C. Y. Chiu. 2004. Evidence of Earnings Management from The Measurement of The Deferred Tax Allowance Account. The Engineering Economist 49 (1):63-93.
Coase, R. H. 1937. The Nature of the Firm. Economica 4 (16):386-405.
Collins, D. W., and W. T. Dent. 1984. A Comparison of Alternative Testing Methodologies Used in Capital Market Research. Journal of Accounting Research 22 (1):48-84.
Dechow, P. M., R. G. Sloan, and A. P. Sweeney. 1995. Detecting Earnings Management. The Accounting Review 70 (2):193-225.
DeFond, M. L., and J. Jiambalvo. 1994. Debt covenant violation and manipulation of accruals. Journal of Accounting and Economics 17 (1):145-176.
DeFond, M. L., and C. W. Park. 1997. Smoothing income in anticipation of future earnings. Journal of Accounting and Economics 23 (2):115-139.
Dye, R. A. 1988. Earnings Management in an Overlapping Generations Model. Journal of Accounting Research 26 (2):195-235.
Elliott, J. A., and W. H. Shaw. 1988. Write-Offs As Accounting Procedures to Manage Perceptions. Journal of Accounting Research 26:91-119.
Francis, J., J. D. Hanna, and L. Vincent. 1996. Causes and Effects of Discretionary Asset Write-Offs. Journal of Accounting Research 34:117-134.
Gordon, M. J. 1964. Postulates, Principles and Research in Accounting. The Accounting Review 39 (2):251-263.
Healy, P. 1985. The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics 7 (1):85-107.
Hepworth, S. R. 1953. Smoothing Periodic Income. The Accounting Review 28 (1):32-39.
Herrmann, D., and T. Inoue. 1996. Income smoothing and incentives by operating condition: An empirical test using depreciation changes in Japan. Journal of International Accounting, Auditing and Taxation 5 (2):161-177.
Jegadeesh, N., and S. Titman. 1993. Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency. The Journal of Finance 48 (1):65-91.
Jensen, M. C., and W. H. Meckling. 1976. Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics 3 (4):305-360.
Jones, J. J. 1991. Earnings Management During Import Relief Investigations. Journal of Accounting Research 29 (2):193-228.
Koch, B. S. 1981. Income Smoothing: An Experiment. The Accounting Review 56 (3):574-586.
Loh, A. L. C., and T. H. Tan. 2002. Asset Write-Offs-Managerial Incentives and Macroeconomic Factors. Abacus 38 (1):134-151.
Makar, S. D., and P. Alam. 1998. Earnings Management and Antitrust Investigations: Political Costs Over Business Cycles. Journal of Business Finance & Accounting 25 (5 & 6):701-720.
Matsunaga, S., and C. Park. 2001. The effect of missing a quarterly earnings benchmark on the CEO’s annual bonus. The Accounting Review 76 (3):313–332.
Mills, L. F., and K. J. Newberry. 2001. The influence of tax and nontax costs on book-tax reporting differences: Public and private firms. The Journal of the American Taxation Association 23 (1):1.
Moore, M. L. 1973. Management Changes and Discretionary Accounting Decisions. Journal of Accounting Research 11 (1):100-107.
Pourciau, S. 1993. Earnings management and nonroutine executive changes. Journal of Accounting and Economics 16 (1):317-336.
Rees, L., S. Gill, and R. Gore. 1996. An Investigation of Asset Write-Downs and Concurrent Abnormal Accruals. Journal of Accounting Research 34:157-169.
Reilly, R. F., and R. P. Schweihs. 1998. Valuing Intangible Assets: McGraw-Hill Companies.
Reinstein, A. 2004. Implementing The Impairment of Assets Requirements of Sfas No. 144: An Empirical Analysis. Managerial Auditing Journal 19 (3):400-411.
Riedl, E. J. 2004. An Examination of Long-Lived Assets Impairment. The Accounting Review 79.no3:823-852.
Ronen, J., and S. Sadan. 1981. Smoothing Income Numbers: Objectives, Means, and Implications: Addison-Wesley.
Scott, W. R. 2000. Financial accounting theory: Prentice Hall Upper Saddle River, NJ.
Stefanescu, M. 2006. The Effect of SFAS 144 on Managers’ Income Smoothing Behavior.
Strong, J. S., and J. R. Meyer. 1987. Asset Writedowns: Managerial Incentives and Security Returns. The Journal of Finance 42 (3):643-661.
Subramanyam, K. R. 1996. The pricing of discretionary accruals. Journal of Accounting and Economics 22 (1):249-281.
Sunder, S. 1997. Theory of Accounting and Control: South-Western.
Trueman, B., and S. Titman. 1988. An Explanation for Accounting Income Smoothing. Journal of Accounting Research 26:127-139.
Watts, R. L., and J. L. Zimmerman. 1978. Towards a Positive Theory of the Determination of Accounting Standards. The Accounting Review 53 (1):112-134.
———. 1986. Positive accounting theory: Prentice-Hall Englewood Cliffs, NJ.
———. 1990. Positive Accounting Theory: A Ten Year Perspective. The Accounting Review 65 (1):131-156.
  • 同意紙本無償授權給館內讀者為學術之目的重製使用,於2012-07-26公開。
  • 不同意授權瀏覽/列印電子全文服務。

  • 若您有任何疑問,請與我們聯絡!
    圖書館: 請來電 (02)2621-5656 轉 2281 或 來信