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題名 | 臺灣與美國分紅入股制度之比較及對財務透明度影響之分析=The Discrepancy of Employee Stock Bonus Plan between Taiwan and U.S. and Differential Effects on Financial Statements |
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作者 | 周淑卿; 林秀紋; | 書刊名 | 長榮大學學報 |
卷期 | 9:1 民94.06 |
頁次 | 頁41-58 |
分類號 | 495.78 |
關鍵詞 | 員工分紅; 員工認股選擇權計畫; 財務會計準則; 財務報表透明度; Employee stock bonus; Employee stock option plan; FASB; Reporting transparency; |
語文 | 中文(Chinese) |
中文摘要 | 目前台灣並無明文規定員工分紅的會計處理,企業一般係根據財務會計準則委員會發布的 (78) 基秘字第127號財務會計問題解釋函「員工紅利及董監酬勞之會計處理」,將員工分紅配股作為盈餘之分配,按面額十元轉入股本,列示於股東權益變動表。而美國則依據APB Opinion No.25 及 FASB No.123規範,將獎酬員工所發放之股票列為費用,並以股票的市價或選擇權的估計公平價值作為衡量依據。因為股票不論是市價或公平價值通常皆大於面值,致美國同產業的製造成本較台灣為高。1998年美國國際貿易委員會裁定台灣輸美靜態隨機存取記憶體(SRAM)傾銷成立,台灣與美國對於員工股票紅利之會計處理方式不同,導致台灣的生產成本較美國為低即為主因之一。 本研究首先就台灣與美國員工分紅入股及員工選擇權等制度之特性及會計處理加以比較分析,並以台灣電子資訊業185家公司為樣本,取民國84至91年共877個年資料,將分紅入股會計處理改採美國公報規定予以費用化,試算二者不同會計處理所造成淨利及每股盈餘下降的金額及下降幅度。 研究結果發現,將員工分紅配股依美國公報規定予以費用化後,就877個年資料而言,稅後淨利平均減少了322,930,000,而每股盈餘則由1.87下降為1.36。其中有392個樣本 (45%) 平均盈餘下降幅度在0%~20%之間, 273個樣本 (31%) 下跌幅度超過20%。若以橫段面比較,則有99家公司的平均稅後淨利下跌超過20%,可見台灣目前將員工分紅以帳面值列為盈餘減項,確實會大幅低估製造成本,影響財務報表的透明度。 |
英文摘要 | According to Financial Accounting Interpretations No.127, in Taiwan, most companies record the employee bonus as deduction from retained earnings via face value (ten dollar) per share. In contrast, the United States APB opinion No.25 and FASB No.123 require companies to record the employee stock bonus as expense by market value or fair value. Since, the market value or face value is higher than face value in common practice, the electronic companies in Taiwan seem have lower cost than those in United States. This is also the major reason why United States International Commission declared the dumping sale for SRAM manufactures from Taiwan in 1998. In this paper, we first analyze the different content and accounting methods of stock bonus plan between Taiwan and United States. Then we re-measure the net income and earning per share of 185 firms of electronic industry by expensing the employee stock bonus according to US FASB No. 123. Our evidence shows that, after re-measurement, the net income of Taiwan’s electron industry decrease by $322,930,000 and EPS decreases from $1.87 to $1.36. Among total 877 firm-year observations, 392 samples’ net income decrease falls into 0-20 percent range, 273 samples decrease over 20 percent. In view from cross-sectional, there is 99 firms’ net income decrease over 20 percent. And these results show that the underestimate of manufacturing cost has caused the unclear reporting transparency in financial statement. |
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