本研究目的在於檢測公司資訊透明度對盈餘管理行為之影響，研究中以證基會資訊揭露評鑑結果為資訊透明度之衡量，採用異常應計數與實質盈餘管理模式衡量企業盈餘管理程度。實證結果發現，資訊透明度與實質盈餘管理呈負向關係，顯示當公司資訊揭露程度愈高時，愈不會從事盈餘操弄。然本研究並未發現，資訊透明度與異常應計數呈顯著關聯性。此結果似乎支持近期文獻發現，公司有從應計數盈餘管理轉向實質性盈餘管理行為之現象。
This study aims to examine the impact of corporate disclosures on the behavior of earnings management. Using disclosure assessment results issued by SFI (Securities and Futures Institute) to measure degree of transparency, as well as abnormal accruals and real earnings management models to calculate real earnings management indicators, this study finds that degree of transparency is negatively and significantly associated with real earnings management indicators, showing that companies with higher degree of disclosures are less likely to manipulate earnings. However, we do not find that degree of transparency is related to abnormal accounting accruals. Our results seem to lend support to the recent literature argument that companies tend to divert their earnings management approach from accounting accruals to real activity.
