職能區分對盈餘資訊性之影響──以財會主管異動公司為例

The Impact of Segregation of Duties on Earnings Information

職能區分是公司進行有效內部控制風險管理和的基礎架構，本研究以台灣2013年至2017年的上市（櫃）公司為樣本，使用未來盈餘反應係數（future earnings response coefficient, FERC）探討當公司財會主管發生異動，並依循職能區分原則，是否將有助於盈餘資訊性。根據實證結果發現，當公司財務與會計主管發生異動，並分別由不同人負責其專任職能時，未來盈餘具有資訊性，且能夠反映公司的股價，證實職能區分機制有利於強化公司監督制衡、降低舞弊機會與達到相互牽制的內部控制環境，以提高投資人對於未來盈餘之期望，進而反映在股價上，有效的改善盈餘資訊內涵。

Segregation of functions is the enterprise infrastructure, effective risk management and internal control, this study in Taiwan from 2013 to 2017 of all listed companies as samples, using future earnings response coefficient (future earnings response coefficient, FERC) up to catch enterprises function Is it helpful for earnings information to be distinguished and have different people serve as the chief accounting officer and chief financial officer? According to the empirical results show that when companies replace the accounting officer or chief financial officer, and each is responsible for its full-time functions are performed by different people, the future earnings have informative and reflect the company's share price, confirmed that segregation of functions and mechanisms conducive to strengthening corporate checks and balances, reduce Fraud opportunities and achieve a mutually restrictive internal control environment to raise investors' expectations for future earnings, which are then reflected in stock prices, effectively improving the connotation of earnings information.