| 摘要: | 本研究係透過盈餘管理及董事會特性等變數，來瞭解其對公司經營績效之影響。故本研究改以效率作為應變數，除針對盈餘管理、董事會特性進行探討外，進一步就其交叉項分析其交互作用。本研究以台灣電子、生技產業上市公司為樣本，共396家公司，以2009年至2017年為研究期間，主要利用迴歸方法進行實證分析，研究結果如下：首先，盈餘管理程度越高對公司效率有正向影響。其次，董事經歷越多元，對公司效率有負面的影響。第三，女性董事對公司績效為負向關係，但在女性董事在與盈餘管理之交互作用下，有利於提升公司效率。第四，獨立董事對公司效率為正向關係，但在與盈餘管理交互作用下，反而降低公司效率。第五，董事會開會次數與盈餘管理之交互作用下，對公司績效有顯著正向影響。第六，董事平均出席比率與盈餘管理之交作用下，反降低公司效率。
This study used efficiency as a factor, in addition to the discussion of earnings management and board characteristics, and further analyzed its interactions on its cross-terms. This study takes Taiwan electronic and biotechnology listed companies as a sample, a total of 396 companies, from 2009 to 2017 as the research period, mainly using regression methods for empirical analysis, the research results are as follows: First, the higher the degree of earnings management Firm efficiency has a positive impact. Second, the more diverse the directors experience, the more negative impact on the firm's efficiency. Third, female directors have a negative relationship with firm performance, but in terms of female directors with earnings management, it is conducive to improving firm efficiency. Forth, independent directors have a positive relationship with the firm's efficiency, but under the interaction with earnings management, it reduces the efficiency of the firm. Fifth, under the interaction between the number of meetings of the board of directors and earnings management, it has a significant positive impact on firm performance. Sixth, attendance of the directors and participation of earnings management, the firm's efficiency will be reduced. |
