企業若同時採用本國會計準則與國際會計準則，其資訊品質有否差異？近年來由於企業與投資人強調國際間之財務報表比較，會計品質中之價值攸關性及比較性更是觀察的重點，因此本研究以比較性與價值攸關性之會計品質為研究基礎，目的在暸解同一企業同時使用兩種不同會計準則，其會計資訊之比較性與價值攸關性品質如何？中國企業之Ａ股採本國會計準則，Ｂ股採國際會計準則作為本研究之樣本。衡量比較性是以De Franco, Kothari, and Verdi (2011)發展財務報表比較性實證模型，並透過股票報酬率、投資利得、資產減損損失是否因不同會計準則反映到盈餘有所差異; 衡量價值攸關性是以Ohlson(1995)評價模式所衍生出之價格模型，並透過毎股盈餘、每股帳面價值是否因不同會計準則反映到股票價格有所差異。利用其縱橫資料（panel data）考慮時間序列固定效果，也觀察盈餘與股票價格變數延遲變項之影響。研究結果顯示，B股採用國際會計準則之比較性與價值攸關性高於中國會計準則，隱含投資人認為B股採用國際會計準則會及時揭露財務資訊及最能允當表達交易經濟實質的財務報告。故本研究建議中國現在應該直接採用國際會計準則，以提高其財務報表之可比較性及價值攸關性資訊品質，俾利於中國企業之國際資金籌措與海外營運之管理。

Is there difference in their information quality, if firms adopt domestic accounting standards (GAAP) or international accounting standards (IFRS)? In recent years, companies and investors emphasize more on comparing financial statements quality among nations, especially focus on the value relevance and comparability. Therefore, this study aims to understand when a company adopts both accounting standards, what happen in their comparability and value relevance quality?  Our sample from Chinese firm’s A-share and B-share. Comparability using De Franco, Kothari, and Verdi’s (2011) measure. Also, analyzing impact on earnings under both standards. Value relevance using Ohlson’s (1995) measure. Also, analyzing impact on stock price under both standards. Our regression analysis considered the time series fixed effects and earnings and stock price delay variables.  The result shows B-share, has higher comparability and value relevance than A-share.  This implies investors believe the financial reports adopting IFRS can disclosure financial information in a timely manner, with the most fair presentation on transaction economic substance. We suggests that China should adopt IFRS in order to improve the comparability and value relevance of its financial statement,  that will also assist China firms to raise funding and manage oversea operations.

目錄
目錄	I
表目錄	III
圖目錄	IV
第一章 緒論	1
第一節 研究背景與動機	1
第二節 研究目的	4
第三節 研究流程	5
第四節 論文結構	6
第二章 文獻回顧與假說建立	7
第一節 國際會計準則/中國會計準則	7
第二節 中國資本市場之發展	19
第三節 中國與國際會計準則之比較性資訊品質	21
第四節 中國與國際會計準則之價值攸關性資訊品質	24
第三章 研究方法	28
第一節 觀念架構	28
第二節 實證模型	29
第三節 變數定義與衡量	33
第四節 資料來源與樣本選取	35
第五節 統計方法分析	36
第四章 實證結果與分析	39
第一節 敘述統計-比較性品質	39
第二節 相關分析-比較性品質	40
第三節 Panel Data迴歸分析-比較性品質	42
第四節 時間序列固定效果迴歸分析-比較性品質	44
第五節 敘述統計-價值攸關性品質	47
第六節 相關分析-價值攸關性品質	48
第七節 Panel Data迴歸分析-價值攸關性品質	49
第八節 時間序列固定效果迴歸分析-價值攸關性品質	51
第五章 額外分析	55
第一節 Panel Data迴歸分析-比較性品質	55
第二節 時間序列固定效果迴歸分析-比較性品質	57
第三節 Panel Data迴歸分析-價值攸關性品質	60
第四節 時間序列固定效果迴歸分析-價值攸關性品質	61
第五節 討論與管理意涵	64
第六章 結論與建議	68
第一節 結論	68
第二節 建議	69
參考文獻	72
表目錄
表2-1中國會計準則之演進	11
表2-2新制中國會計準則與國際會計準則之差異比較表	11
表2-3中國資本市場A股與B股之差異	21
表4-1 A股與B股迴歸式各變數之比較性敘述性統計量	40
表4-2 盈餘比較性模型之Pearson相關係數	41
表4-3  A股與B股之盈餘比較性迴歸分析	46
表4-4 A股與B股迴歸式各變數之價值攸關性敘述性統計量	47
表4-5價值攸關性模型之Pearson相關係數	48
表4-6價值攸關性模型之共線性檢定	49
表4-7 A股與B股之價值攸關性迴歸分析	53
表4-8 A股與B股之盈餘比較性迴歸分析(額外分析) 	59
表4-9 A股與B股之價值攸關性迴歸分析(額外分析) 	63
表4-10 中國會計準則與國際會計準則之因素差異 	64
圖目錄
圖1-1研究流程	5
圖3-1觀念架構	28

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