頁籤選單縮合
題名 | 應計數與股價之關聯研究=The Research on Accruals and Stocks Prices |
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作者 | 謝美緞; | 書刊名 | 慈濟技術學院學報 |
卷期 | 15 2010.05[民99.05] |
頁次 | 頁81-104 |
分類號 | 553.977 |
關鍵詞 | 盈餘品質; 股價; 應計數; Earnings quality; Stocks prices; Accruals; |
語文 | 中文(Chinese) |
中文摘要 | 本研究主要在探討應計數與股票價格的關聯性,亦即盈餘品質中應計數的衡量係參 酌Sloan(1996)與Chan, Chan, Jegadeesh, and Lakonishok(2006)對應計項目與其組成 的定義,並以應計數組成的波動性捕捉應計數品質,利用Healy(1985)衡量裁量性應 計數組成項目(應收帳款變動數、存貨變動數、應付帳款變動數)與非裁量性應計數組 成項目,以驗證其是否與股票價格有所關聯,另參考Ohlson(1995)所提評價模式部份 來發展研究模型。結果顯示具有高盈餘品質可以提升公司股價的評價功能,而裁量性應 計數則對公司股價的評價功能有正向的增量貢獻。 |
英文摘要 | This paper examines the relation among accruals and stocks prices. The accruals of earnings quality follow Sloan(1996)and Chan, Chan, Jegadeesh, and Lakonishok(2006) to measure accruals and earnings quality. The empirical evidences show that nondiscretionary accruals and discretionary accruals which included the changes in accounts receivable, inventories and accounts payable are associated with stocks prices. In addition, we develop the models from Ohlson(1995), partly. We find a significant relation between the quality of accruals and stocks prices. As accruals of the components are high, they are accompanied with high earnings quality and accruals quality. And this can suggest higher stocks prices. |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。