| Summary: | 碩士 === 元智大學 === 商學碩士班(會計學程) === 100 === The focus of this study is the association between institutional ownership stability and earnings management. Previous studies have verified institutional investors’ shareholding will affect earnings management, but those studies aim at the proportion of the institutional ownership, instead of the shareholding time of the institutional investors. Therefore, by multiple regression analysis, the study distributes the stability of institutional ownership into volatility and persistence to examine the relationship between institutional ownership stability and earnings management. The empirical results find that the institutional ownership stability does affect earnings management. If institution ownership has a high degree of volatility or the character of non-persistence, managers are most likely to manipulate earnings. This paper also finds that corporate performance is one of the consideration factors when institutional investors decide the investment policy for regarding the length of time of the shareholding.
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