【作者】 朱威任；

【导师】 王华；

【作者基本信息】 暨南大学 ， 会计学， 2007， 博士

【摘要】 本研究旨在强化公司治理与财务信息质量之间的关系。近来许多研究就公司治理结构与公司治理程度对盈余质量、盈余持续性等问题进行探讨,并且也有直接讨论公司治理对财务信息质量的影响,不过,本研究认为从横断面的角度来看,公司治理可能会因为公司的许多策略性活动对财务信息质量有不同的结果。企业策略对股权结构有极大影响的,为购并策略、重组策略与员工持股信托等。股权结构如果有所变动,意味着公司治理机制也有本质上的改变,则对财务信息质量的影响应当也有所不同。公司重组通常都是管理者基于企业营运所进行的组织再造,这些行为所代表的意义各自不同,当然对管理者的职位固守也有不同的涵意。过去许多文献认为良好的公司治理设计可以减少管理者机会主义、增加管理者为股东集体利益努力的企图心,不过严格说来,在管理者可以动用的财务策略下,良好的制度也未必能达到效果。本研究想要探讨的是公司重组会发生,不产生现金流量、增加现金流量与减少现金流量三种效果,因此最后对财务信息质量的影响是否存在?由于公司重组已经设计了公司治理程度的改变,所以本研究仅将公司治理列为控制变量,并再就股权结构的特征加以区分,探讨不同性质的股权结构与公司治理等变量在受控制下,现金流量的产生与否对财务信息质量的影响,进而强化公司治理与财务信息质量两者关联性之研究。本研究循序渐进地讨论进行重组的公司,其重组活动前后对财务信息质量的影响,并比较有重组公司与未经重组公司的财务信息质量是否有显着差异,接着讨论不同内容的重组活动对财务信息质量是否具备改善效果,再进一步讨论不同的公司治理类型下,公司治理变量与重组变量对财务信息质量的影响。本研究发现公司重组对财务信息质量的改善是有帮助的、且经常性进行重组的公司其财务信息质量优于未重组公司以及重组活动对公司财务信息质量的改善具正面效果。更多还原

【Abstract】 The purpose of the study is to strengthen the relationship between governance and the quality of financial information. Recently, many studies analyzed the issues between governance structure / level and profit quality and profit sustentation, furthermore, to directly discuss the effect of governance on financial information quality. However, this study views from a cross section view, the governance may be effected by other strategy events and have different result in financial information quality. Corporation strategies that have great influence on ownership structure are: merger strategy, restructuring strategy and employee stock ownership trust. Once there is any change in stock ownership, it also means there is change in the mechanism of management and its effect on financial information quality shall also be different.In general, the corporation restructuring by management is reorganization which is based on the operation. The significances are different, also has different meaning for management’s position defending. In the past, many documents shown that a good governance design can reduce the opportunism of management and increase their desire for making effort to benefit the shareholders. But, under the financial strategy that management has right to draw on, a good design does not reach the effect for certainty. This study discusses three results from corporation restructuring: No producing cash flow, increasing case flow and decreasing cash flow. Is there any influence on financial information quality? The restructuring has designed the change of governance level. This study only treated the governance as a control variable, and separates the ownership structures against the features to discuss if cash flow producing affects the financial information quality under different ownership structures and controlled governance variable. Further, to research the relationship between governance and financial information quality.This study discussed the corporation which is under restructuring. Compare the influence on financial information quality before and after the restructuring. Also compare with the corporation which is not yet been restructured. Followed, discusses whether different restructuring contents improve the financial information quality. Further, to discuss under different governance type, the influence of governance and restructuring variable on financial information quality. The study discovered that the corporation restructuring makes improvement in financial information quality. And, the corporation, which is restructured regularly, the financial information quality is superior than those never be restructured. The corporation restructuring has positive result in improvement of financial information quality.更多还原