公司治理評鑑與盈餘品質

Corporate Governance Ranking Mechanisms and Earnings Quality

本研究旨在探討國內實施公司治理評鑑系統後，上市櫃公司是否更加重視公司治理機制，進而使盈餘品質提升。實證結果發現，在公司治理評鑑系統實施後，裁決性應計數絕對值明顯下降，顯見評鑑系統的實施可引進額外的自我約束力量。但本文並未發現評鑑結果較佳的公司，其盈餘品質較佳，可能是公司治理評鑑機制的實施，僅三個年度，大部分的公司在評鑑制度實施後皆能有效改善盈餘品質，造成公司治理評鑑結果對其盈餘管理程度的區分效果不如預期。

The purposes of this study are to examine whether the absolute value of discretionary accruals, a proxy of earnings quality, decreased after the implementation of the corporate governance ranking system, and to test the relation between earnings quality and corporate governance ranking results. The empirical result shows that earnings quality is improved after the implementation of the corporate governance ranking system. However, we could not find a statistically significant correlation between earnings quality and corporate governance ranking results. The probable reason is that it is hard to distinguish earnings quality among firms in our sample based on only three-year ranking results, and most firms have improved their earnings quality after the implementation of this ranking system.