家族經營為我國企業主流的治理模式之一，而家族企業獨有的特質可能使其治理環境與一般非家族企業不同，本文主要從不同家族治理型態與生命週期的觀點檢視其對盈餘品質之影響。研究樣本以2000年到2015年間之台灣上市上櫃企業中為單一家族主導之企業為主，產業類別共包含29類。
實證結果顯示，第二類家族治理型態(家族成員參與卻不干預的狀態下，委託專業經理人治理)相對第一類家族治理型態(所有權與管理權皆為家族成員掌管且控制權無偏離)具較好的盈餘品質。而家族企業處於成熟期與衰退期之企業，盈餘品質相對成長期較差。整體而言，台灣家族企業經營的潛在成本仍大於潛在利益。本研究結果對於面臨傳承階段之家族企業而言深具時代意義與管理意涵。
Family governance is a one of the mainstream governance type of Taiwan. This paper examines the information content of earnings quality from the perspective of family gov-ernance and life cycle. We use the Regression Analysis to investigate a sample of listed firms in Taiwan from 2000 to 2015 which is all family governance, totally 29 industries. The results show that the earing quality of second type of governance is better than the first. Earing quality of maturity and decline stage is worse than growth stage. Overall, the potential costs of family-controlled businesses is still more than the potential benefits. The results of the study are considerable significance to the family-controlled businesses in the stage of inheritance.
