| 摘要Abstract | 台灣上市櫃公司自2013年起正式採用國際財務報導準則（IFRS）編製財務報 表，依規定自2012年以我國一般公認會計原則（ROC GAAP）與IFRS雙軌並行，該 企業須在第一季合併報表中揭露ROC GAAP與IFRS之差異調節金額，並提供財務狀 況及損益調節資訊，以利報表使用者瞭解IFRS重大調整項目及其影響。本研究推 論，由於一般預期轉換IFRS將使財報之資產、負債、股東權益及盈餘進行帳面調整， 若此資訊對於投資人具有決策參考性，則可能影響股票市場中投資人之股票評價。 本文以台灣上市公司之2012年第一季合併報表為研究對象進行實證研究，實證結果 發現：電子業之累積異常報酬與股東權益差異調整數呈現顯著正相關，代表IFRS導 入提升股東權益越多，投資人股價評價越高。另外，股東權益差異調整數絕對值與 IFRS 1選擇性豁免項目數呈現顯著正相關，代表公司選擇之IFRS 1選擇性豁免項目 數越多，則IFRS導入影響股東權益越多。本研究另進行若干敏感性測試，實證結果 與主測試一致。Because of the full adoption of IFRS from 2013 in Taiwan, firms listed in Taiwan are required to disclose reconciliations in their consolidated financial reports in the first quarter of 2012 that give sufficient detail to enable users to understand the material adjustments to the statement of financial position, statement of comprehensive income. It also provides an opportunity to examine investors’ reaction to the adjustments of accounting changes from ROC GAAP to IFRS and the determinant factors related the adjustments. This study expects that the transition from ROC GAAP to IFRS will likely cause the changes of the assets, liabilities, equity and earnings in financial reports; which will, in turn, affect the stock-valuation decisions of investors. This study found that investors in the electronics industry reacted significantly positive to adjustments to equity. In addition, adjustments to equity presented a significantly positive relationship with the number of optional exemptions applicable from IFRS 1. |