經理人能力與盈餘管理之關聯

The Association between Managerial Ability and Earnings Management

由過去文獻可知，管理能力之間的差異會影響績效表現，而能力較佳的經理人會取得較好的經營績效。除了經理人能力的影響外，績效目標也可藉由盈餘管理達成。然而，經理人能力的高低與盈餘管理之間的關係並不明確。本研究以日本東京證券交易所上市公司為研究對象，分別以應計項目盈餘管理與實質盈餘管理項目來探討經理人能力與盈餘管理兩者之間的關聯。研究結果顯示，經理人能力愈高，企業盈餘管理的程度愈低。本研究更進一步以低獲利企業及中位數迴歸分析，發現經理人能力與盈餘管理之關聯不因獲利較低而受影響，且低獲利企業之盈餘管理程度較高。而中位數迴歸分析也顯示本研究之實證結果不受離群值影響。

"Research has shown that managerial ability affects firm performance. More competent managers usually achieve better performances. Meanwhile, managements can also achieve performance objectives through earnings management. This study examines the association between managerial ability and earnings management using measures for both accrual-based earnings management and real earnings management. The results show that managerial ability is negatively associated with the levels of earnings management. The empirical results remain the same when controlling for firms reporting small profits, even though these firms exhibit higher levels of real earnings management. The results remained robust when estimated using median regression."