| 項目 | 資料 |
|---|
| 卷期Vol. & No. | 第26卷第2期 Vol 26 No. 2 |
| 標題Title | 公司治理評鑑系統是否存在示警功能？Does the Corporate Governance Evaluation System Have Warning Functions? |
| 作者Authors | 張瑀珊 孔繁華 詹昀Yu-Shan Chang Fan-Hua Kung Yun Chan |
| 出版日期Publish Date | 2025-11-30 |
| 摘要Abstract | 本研究旨在探討公司治理評鑑系統是否存在示警性的監督功能，實證結果發現，公司治理評鑑系統對進行應計項目盈餘管理及透過異常營業活動現金流量進行實質盈餘管理之企業具示警功能。本文也發現，由產業專家所查核之公司，評鑑系統的示警效果更為明顯，且評鑑系統對於不同企業生命週期之公司，其監督功能亦有所差異。由於應計項目盈餘管理具迴轉之特性，在審計產業專家查核下，對於營運風險較高之公司，評鑑系統對其調整前期盈餘，以使當期盈餘能符合盈餘目標之管理行為具示警功能；而對於營運穩定性較高之公司，評鑑系統對其將當期盈餘調整向下之應計項目盈餘管理也具示警功能。其他分析也發現，公司治理評鑑系統存在抑制公司次期異常營業活動現金流量使用程度之修正效果，顯見評鑑系統對於不同營運穩定度之公司具有評鑑等級差異之資訊價值。This study aims to investigate whether the corporate governance evaluation system functions as an early warning mechanism in supervision. Empirical results reveal that the system serves as a warning for firms engaged in discretionary accruals earnings management and abnormal operating cash flows. The study also finds that the evaluation system exhibits a more effective warning function for firms audited by industry experts, and it exhibits varied supervisory functions on firms at different stages of their life cycle. Due to the reversible nature of accrued earnings management, and under the scrutiny of audit industry experts, the evaluation system serves as a warning for firms with higher operational risks by adjusting prior period earnings to meet current earnings targets. For firms with greater operational stability, the system also flags downward adjustments in discretionary accruals earnings. Further analysis reveals that the corporate governance evaluation system mitigates the extent of abnormal operating cash flow usage in subsequent periods, demonstrating its informational value in differentiating evaluation grades for firms with varying degrees of operational stability. |
| 關鍵字KeyWords | 公司治理評鑑系統、示警功能、應計項目盈餘管理、實質盈餘管理corporate governance evaluation system, warning functions, accrual-based earnings management, real earnings management |
| DOI(全文下載Download) | 10.6675/JCA.202511_26(2).0003 |
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