| Summary: | 碩士 === 東吳大學 === 會計學系 === 90 === To make all information be disclosed adequately and protect investors, the Security and Futures Committee, Ministry of Finance announced and effected mandatory management forecast system. According to the regulation of SFC about renewal of financial forecast, the firms find the variation between actual and forecasted data is over the regulation of renewal after the balance sheet date, then the firms only announce that its’ financial forecast isn’t suitable for use to users. But many firms in Taiwan offer the updated financial forecast after reviewed by CPA. However, the renewal consumes time and makes negative economic consequences. The purpose of this study is to investigate the factors associated with the voluntary renewal of managers’ financial forecasts. There are four factors defined.
In this study, I use Logistic Regression Model to examine the relation between the characteristic of firm and voluntary renewal of financial forecast or not. Data are collected from the Taiwan Economic News Journal of the period from 1997 to 2000. There are 60 firms in the testing sample.
On the basis of the empirical results of this study, I find that there are two factors associated with the voluntary renewal of financial forecast. The ownership of board and the threshold on renewal number for financial forecast are the most significant factors in this study.
|
|---|
