The Information Content of Qualified Opinions and the Reaction of Market
碩士 === 國立中興大學 === 高階經理人碩士在職專班 === 98 === Many company’s stakeholders would use the financial reports which accountants signed in to do financial analysis or judge whether the company was good or not. But the financial report just reflects the company’s situation of the past without contingency. The...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2010
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| Online Access: | http://ndltd.ncl.edu.tw/handle/86446932230961656326 |
| Summary: | 碩士 === 國立中興大學 === 高階經理人碩士在職專班 === 98 === Many company’s stakeholders would use the financial reports which accountants signed in to do financial analysis or judge whether the company was good or not. But the financial report just reflects the company’s situation of the past without contingency. The stock price and company’s financial structure has already changed before financial report published. It’s important for stakeholders to forecast the trend of stock price from the stock price during earlier days. This is the purpose of the study.
We use companies listed officially before Dec. 2008 with accountants’ qualified opinions as samples, and analyzes their stock prices and more remuneration superior to standard by seasons. The conclusions are as follows:
1.The qualified opinion concerned company’s proceeding has the negative impact during 180 days after financial report published.
2.Any type of the qualified opinions has no impact during 90 days after financial report published.
3.The qualified opinions were concerned about company’s proceeding or due to changing of accounting principle or method has the negative impact during 180 days after financial report published.
4.The qualified opinion concerned company’s proceeding has the negative impact during 90 days before financial report published.
5.During 180 days before financial report published, the qualified opinions due to changing of accounting principle or method have the negative impact but the qualified opinions concerned about company’s proceeding have the positive impact.
6.During 270 days before financial report published, the qualified opinions due to changing of accounting principle or method have the negative impact but the qualified opinions due to adopting other accountants’ qualified opinions have the positive impact.
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