The restatement of financial statement and its impact on stock price--Taiwan listed companies
碩士 === 國立政治大學 === 會計研究所 === 98 === This research employs both case study and empirical approaches to investigate the causes, demeanors and economic consequences of a sample of firms that were enforced by the Securities and future Bureau to restate their financial statements over the period of year 1...
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| Format: | Others |
| Language: | zh-TW |
| Online Access: | http://ndltd.ncl.edu.tw/handle/33688084069480410783 |
| Summary: | 碩士 === 國立政治大學 === 會計研究所 === 98 === This research employs both case study and empirical approaches to investigate the causes, demeanors and economic consequences of a sample of firms that were enforced by the Securities and future Bureau to restate their financial statements over the period of year 1999 to year 2009.
This study was referred to the method mentioned in U.S. Government Accounting Accountability Office (GAO) 2002 and 2006 to conduct a research in Taiwan’s capital market. Empirical results indicate that event date the cumulative abnormal return is negative. Further regression analysis showed that enterprise as well as the financial crisis in the financial statements of misrepresentation to the length of the announcement date of restatement are related to abnormal returns. In addition, different reasons restated events on the further analysis showed that abnormal returns, resulting in the largest decline in abnormal returns due to inflated (the omission of) transactions, followed by the transfer and accounting estimates related to the investments and evaluation of abnormal returns decline cause the least loss was attributable to the period.
Keywords: financial restatement; event study; abnormal return
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