The impacts of private equity on earnings quality

• Main Authors: Yao-wen Chang, 張耀文
• Other Authors: Ching-Hsiang Lin
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/26941333454772962248

碩士 === 國立高雄第一科技大學 === 財務管理所 === 97 === Passage of the Private Placement Act during 2002 has brought new way of raising capital for enterprises. Therefore, investors pay closer attention to the earnings qualities of enterprises generated through private placement. This study using samples from electronic sectors which are listed in stock market in Taiwan during January, 2006 and June, 2008 to investigate whether earning qualities are influenced by private placement. Our findings show: (1) The company with private placement will have the high earnings quality. Companies with higher private shares will have better earnings quality. (2) Institutional ownership improves earnings of quality. (3) Loss recognitions are timely and earnings quality are better when companies are facing bad news.