教師資料查詢 | 類別: 期刊論文 | 教師: 湯惠雯 Hui-wen Tang (瀏覽個人網頁)

標題:Does Corporate Governance Affect the Relationship Between Earnings Management and Firm Performance? An Endogenous Switching Regression Model,Review of Quantitative Finance and Accounting
學年103
學期2
出版(發表)日期2015/07/01
作品名稱Does Corporate Governance Affect the Relationship Between Earnings Management and Firm Performance? An Endogenous Switching Regression Model,Review of Quantitative Finance and Accounting
作品名稱(其他語言)
著者Tang, Hui-wen; Chang, Chong-chuo
單位淡江大學保險學系
出版者New York: Springer New York LLC
著錄名稱、卷期、頁數Review of Quantitative Finance and Accounting 45(1), pp.33-58
摘要This study investigates whether corporate governance affects the relationship between earnings management and firm performance by using Taiwanese data. We used an endogenous switching regression model to classify firms into strong and weak governance regimes based on an endogenously determined threshold. The results show that discretionary accruals (DAs) and discretionary current accruals (DCAs) have significantly negative effects on return on assets (ROA) and Tobin’s q for firms in a weak governance regime. This implies that managers in weakly governed firms are more likely to abuse accounting discretion than those in strongly governed firms, leading to decreased firm performance. Managers prefer using DCAs rather than DAs to window-dress financial earnings, but this causes a greater reversal of corporate value in the subsequent period. Conversely, DAs and DCAs are positively and significantly related to firm performance in a strong governance regime. This indicates that managers under strong governance typically exercise optimal accounting choices to respond to varied economic conditions, or to avoid costly debt-covenant violations, potentially enhancing firm value.
關鍵字Corporate governance;Earnings management;Firm performance;Endogenous switching regression model;Discretionary current accruals
語言英文(美國)
ISSN1573-7179;0924-865X
期刊性質國外
收錄於
產學合作
通訊作者Tang, Hui-wen
審稿制度
國別美國
公開徵稿
出版型式,電子版,紙本
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