| 項目 | 資料 |
|---|
| 卷期Vol. & No. | 第8卷第2期 Vol 8 No. 2 |
| 標題Title | 財務困難公司之資訊透明度研究An Empirical Study on Information Transparency of Financially Distressed Firms |
| 作者Authors | 薛敏正 李雅琳Min-Jeng Shiue Ya-Ling Li |
| 出版日期Publish Date | 2007-11-30 |
| 摘要Abstract | 本研究旨在探討財務困難公司之資訊揭露行為。以財團法人證券暨期貨市場發展基金會建置之「資訊揭露評鑑系統」中的「年報指標」作為公司資訊透明度之替代變數，分析與討論財務危機與正常公司之資訊透明度。以2003 年列入全額交割之上市（櫃）公司為樣本另加入財務危機前後各一年之數據，就年報評鑑指標中之評分結果，採單變量與多變量迴歸分析，觀察與分析財務困難公司之資訊揭露情形。實證結果發現除董事會及股權結構資訊外，在整體資訊、財務及營運資訊、強制性資訊、自願性資訊等方面均顯示財務危機公司的資訊揭露程度較正常公司低。另項重要的發現是資訊揭露數據區分之等級愈多時，愈容易觀察出財務危機公司與正常公司間之資訊透明度差異。The purpose of this study is to examine whether the transparency of information disclosure by distress firms is lower than that by non-distress firms. Annual report index data from IDTRS (Information Disclosure and Transparence Ranking System) are used as the proxy of the firms' information transparency. Research samples including distress and non-distress firms are collected from the public trading securities in Taiwan stock market between 2002 and 2004. Both univariate and multivariate regressions are used to examine our hypothesis. Research findings moderately support our argument that distress firms disclose less information than non-distress firms. Finally, it is found that the smaller the measure of the interval is, the better the discriminative ability to investigate information disclosure differences between distress and non-distress firms is. |
| 關鍵字KeyWords | 財務困難、資訊透明度、資訊揭露評鑑系統financial distress, information transparency, information disclosure and transparence ranking system |
| DOI(全文下載Download) | 10.6675/JCA.2007.8.2.01 |
| 相關文章Related Articles | 資訊透明度與財務分析師預測行為(Information Transparency and Analyst Forecasts’ Behavior) 海外來台第一上市櫃企業公司治理與股利政策之關聯(The Relationship between Corporate Governance and Dividend Policy: Evidence from Foreign Listing Firms in Taiwan) 董監事薪酬揭露方式對盈餘管理之影響(The Impact of Director and Supervisor Compensation Disclosure on Earnings Management) |