The Effects of Corporate Governance and Earnings Management to Firm Peformance for Taiwan Electrical Industry

• Main Authors: Yi-Chun Ko, 柯沂均
• Other Authors: 倪衍森
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/91695959561391672640

碩士 === 淡江大學 === 管理科學研究所碩士班 === 98 === This study is to exam the relation among corporate governance, earnings management, and firm value for Taiwan electrical industry. The importance of corporate governance would be more and more stressed by enterprises after the huge loss caused by subprime mortgage markets. Final empirical evidences show that significant negative relationship was found to exist between earnings management and financial performance variables such as ROA, ROE and EPS. However, earnings management will have positive effects on Tobin Q. It will infer that earnings management seems to be able to reduce the volatilities of profits, which might be helpful to lift up the firm values. Secondly, the empirical result shows that CEO duality is negative related to financial performance ;the proportion of shares held by directors is positively related to financial performance. It means the enterprises with the chairman of the broad with the duty of CEO might have manipulating power of earnings management. Thirdly, the interaction item between the proportion of foreign-investor-owned shared and earnings management are negative to firm value. Results support that investors concern balance sheet, income statement, consolidated statement of cash flows and disclosure item.