【研究動機與目的】「公私協力」已成為當代政府運作與學術研究風潮，然協力研究實際上忽略一重要議題，即公私部門管理者對於協力究竟抱持著什麼樣的態度。由於態度會決定人的行為模式，對於在制度與組織層面提出各項能左右協力成效的要件，但也不能忽略運用這些遊戲規則的卻是代表組織的公私部門管理者。再者，對於公私協力的研究多採單一經濟途徑，較缺乏整全跨學科領域的實證模型。基於上述，本研究主要分從公私部門管理者角度，建構融合經濟與社會-心理的理論途徑，探究公私部門管理者在契約管理上的態度意向「為何」與「如何」對協力行為產生影響(正式契約與關係治理)。並以目前公私協力中最具爭議且重要的長期照顧制度做為研究個案。 【研究設計】本研究主要研究目的有二，其一，探討現階段長期照顧制度中，公私部門管理者對於委託代理的預期、協調運作機制以及對於績效的看法。這個部份將透過質化訪談方式進行資料蒐集；其二，藉由結構方程模式循證公私部門管理者對於委託代理的態度，及此態度如何影響管理者的契約管理行為(正式契約與關係治理)，及此行為如何影響協力成效。而本研究實證模型將整合經濟與社會心理途徑，希冀涵容跨學科及實務現象。 【研究結果】本研究主要貢獻在於以公私部門管理者為分析單位，建構融合經濟與社會途徑的公私協力成效模式。同時以質量化方式驗證協力成效理論模式與實務間的契合度。主要研究發現如下：1、官僚體制在面對行政變革時會產生心態與行為上的不一致性；2、公部門希冀透過正式契約作為契約運作機制；然私部門則較偏向於關係治理機制；3、影響契約研擬因素中以社會心理因素較重要於經濟因素的影響；4、從質量化資料驗證正式契約與關係治理是互補關係而非抵換關係；5、居家服務委外呈現公私部門雙方的資源互賴，在互動中也透過社會交換行為以維繫互賴關係的穩定。針對以上發現，在未來實務建議上，可透過組際信任的培植，來厚植公私協力的理想治理情境；建議將長期照顧管理中心定位為正式機關而非臨時的任務編組；透過組織文化的潛移默化調整官僚體對於去人性化的本質，而從重視正式契約轉向關係治理的培植；為求關係治理機制的培育與應用，契約規範應跳脫交易成本的假定。在未來研究上，建議以時間遞移為主軸，縱貫式解構協力的動態過程；官僚體制中的組織文化，對於協力本質與行為的影響將是值得深入討論的議題。

近年來，社區林業的推行已然成為國際間林業經營的新趨勢，而我國亦在2002年推動「社區林業－居民參與保育共生計畫」，倡導「林業走出去，民眾走進來」的社區林業理念，該理念之倡導，旨在鼓勵在地居民參與，凝聚共識及培養社區自主能力，並由政府與社區居民及民間組織形成夥伴關係，以協力推動生物多樣性保育、永續森林生態旅遊及相關林業建設，藉以達成社區發展與森林永續之目標。 台大實驗林過去的林業治理多半採由上而下的治理方式，常導致管理單位與當地居民的對立，治理成效未盡理想，故台大實驗林管理處近年來嘗試遴選適當社區，推動社區林業，期望能找到林業資源治理新契機，然而，其成效若何值得深入考察，又因實驗林乃肩負試驗研究、教學實習、示範經營、環境保育等責任，本研究認為若能在此地區為政策示範地區，當能作為全國的林業治理借鏡，故遴選其轄區內執行之社區為個案加以探討，以獲悉施行實況。 森林係屬排他性很低但取用的減損性高的共用資源(Common Pool Resources, CPR)之一，若未能妥善經營管理，則易產生「共用地悲劇」。Elinor Ostrom(1990)曾就此提出由社區自主治理永續制度安排的設計原則，故本研究將藉以援引，並採深入訪談法，評估台大實驗林接受社區林業補助的案例的施行成果，提出自主治理的難題，包含參與者界定困難、參與者投入的成本與獲得效益不相稱、尚無監督參與者的機制、無權進行制裁機制、上級主管單位授權不足，並提出相關解決對策，期望使社區林業政策之推動更臻成熟，亦透過本研究肯認台大實驗林未來發展生態旅遊之潛力，而為改善我國森林資源治理效能之方針。 / In recent years, the implementation of community forestry industry has become a new trend in the international forestry operations , while now is also promoting " Community Forestry - residents to participate in conservation Symbiosis Project " in 2002 , advocated " Forestry go outside , people come inside ," the community forestry concept the idea of the initiative, designed to encourage residents to participate in the ground , build consensus and foster community autonomy , the government formed by residents and non-governmental organizations and community partnerships to promote the conservation of biological diversity in the third , sustainable forest eco-tourism and related forestry construction , in order to achieve the goal of sustainable community development and forest . The Experimental Forest of National Taiwan University (hereafter referred to as the Experimental Forest) past forestry governance mostly adopt a top-down governance , often leading management units and local residents opposing governance performance unsatisfactory , the Experimental Forest in recent years to try the selection of appropriate community , promote community forestry, expect to find new opportunities for forest resource management , however , the effectiveness of how worthy of further investigation, because of the experimental forests are shouldering experimental research, teaching practice , demonstration management, environmental conservation and other responsibilities , this study suggests that if the demonstration in the area of regional policy when a country's forestry governance can learn from , so the selection of its communities in the area to be explored is the case , learned to perform live . Department of Forestry is low but exclusive access to the shared resources with high impairment (Common Pool Resources, CPR) one of , if not the proper management, is easy to produce , " shared the tragedy ." Elinor Ostrom (1990) had been made by the community self- governance and sustainable design principles of institutional arrangements , the purpose of this study will be invoked , and mining depth interviews to assess the implementation of the outcome of Experimental Forest accepted the case of community forestry subsidies , raise self- governance the problem, in order to propose solutions that promote community forestry policies more mature, improve the performance of our forest resources governance .

以出生年份所定義的七年級生，因其富庶卻又嚴苛的生存條件而與草莓族形象疊合，形成獨一無二的「草莓世代」。筆者身為七年級生的一員，關注此世代從無到有、經由比較與召喚所被建構的過程。首先將勾勒出七年級生的成長背景，討論他們何以繼釣魚台世代之後被指認，並試圖指出其歷史意義；其次蒐集七年級生在財經企管雜誌中的相關表述，並置於時空脈絡中探討其形象如何被建構，及背後的論述形構。世代的建構與定義方式，從曼海姆與蕭阿勤的自我定義與實踐，消費社會中以行銷為本、針對年輕族群所貼的標籤，到「草莓世代」的勞動主體建構，反映不同的命名邏輯與社會脈絡。本研究發現，草莓世代中的「生產力論述」中出現了工作倫理轉向，從生產者社會的全景敞視規訓，轉化為消費者社會中具備彈性與動能、隨時召喚認同的生命治理模式：由內而外進行勞動主體的調理與改造，使之內化此規訓法則，進而成為個體化社會中自負盈虧、高度彈性的理想勞動力。 / Youths born in 1980s (The Post-80s) were raised rich yet faced relatively crucial living status when grown up, and thus were defined as unique "strawberry generation." As part of the youths, I concern the process that how the generation emerged by comparison and interpellation. First of all, the article illustrates social background in the 1980s, discussing why the Post-80s were identified as “strawberry generation” after the Diaoyu/Senkaku Islands generation, and then points out the historical meaning behind. Secondly, I collected essays about the Post-80s in business magazines, analyzing how their images were constructed and the discursive formulation in temporal context. The ways that generations were constructed and defined were shifting from the self-definition/practice that Mannheim and A-chin Hsiau have discussed, labels on youths in terms of marketing strategy of consumer society, to the construction of labor subjectivity among "strawberry generation." Furthermore, the evolution reflects different naming logic as well as social context. In this research, I discover that there has been a work ethic turn in the "productivity discourses" of strawberry generation. It turns from the panoptical discipline of producer society to the flexible/dynamic biopolitics that may call for identification in consumer society. In terms of the biopolitics, it manages to convert labor subjects from the inside out, making them internalize the discipline rules and thus become ideal labor force who takes his/her own responsibility with higher mobility.

台灣對國際貿易市場依賴程度極高，總體經濟環境極易受到國際經濟變數的影響，其中尤以匯率的變動，係我國進出口貿易最直接並重要的影響因素之一。為了生產及銷售競爭之需要，我國企業積極對海外投資並設立海外子公司或據點以進行國際分工，企業的國際化更加重所面臨匯率波動所產生的外匯暴露。 本研究基於我國企業面對的外匯暴露程度，探討影響我國企業外匯暴露及操作衍生性金融商品規避外匯暴露的公司治理因素，並針對外匯避險是否具有盈餘資訊內涵進行研討，具體而言，本研究將探討下列問題： 一、操作衍生性金融商品規避外匯暴露與外匯暴露程度的關聯性； 二、公司治理對操作衍生性金融商品規避外匯暴露的影響程度； 三、操作衍生性金融商品規避外匯暴露是否具有資訊內涵。 本研究的結果發現，操作衍生性金融商品係有助於規避外匯風險；而公司治理中的董事能力及董事會的獨立性則對我國企業在是否選擇操作衍生性金融商品避險時，有重大影響力。基於外匯暴露是我國企業普遍面臨的風險，上述結果應有助於我國企業在面對外匯風險時，決定是否採用衍生性金融商品規避外匯風險上，有一定的助益。本研究並發現企業操作衍生性金融商品避險是具有盈餘資訊內涵的，此對文獻中較少針對企業面對風險的避險決策是否對股票報酬有所影響的議題，可作為該領域研究方向及結果的補強。 / Due to an extremely high level of dependence on international trade, the macroeconomic environment in Taiwan is affected by international economic variables deeply. Particularly, the change of foreign exchange rates is one of the most direct and significant factors for the international trade of Taiwan. Further, the internationalization of local enterprises by actively expanding their investment internationally and setting up overseas subsidiaries makes these enterprises suffer more from the exposure of foreign exchange rate fluctuations. This study therefore investigates the following issues: 1. The association between hedging foreign exchange rate fluctuation by derivatives and the foreign exchange rate exposure. 2. The impact of corporate governance on the hedging decisions of the management. 3. Is there any information content of the hedging against foreign exchange rate exposure? The results of this study show that: (1) The hedging against foreign exchange rate fluctuation by derivatives decreases the foreign exchange rate exposure; (2) Two of corporate governance factors namely finance expertise and independence of the board of directors have significant effects on the hedging decisions; and (3) Hedging against the foreign exchange rate fluctuation by derivatives provides information content of earnings. This study contributes to the practice and the academics in the following ways: (1) As an aid for the management to decide whether to hedge against foreign exchange rate fluctuation by derivatives when facing foreign exchange rate exposure; (2) As an extension of the literature on the association between hedging decisions and the stock returns.

在民主改革之浪潮中，政府的運作已從過往獨斷統治模式走向參與治理的型態。參與式治理的呈現方式包括了審議式民主、以公民為中心之協力公共管理、協力治理等型態。公共政策的制定本應以民意為基礎；因此，引導多元利害關係人至公共政策過程之中，共同制定決策即是參與治理的核心，而決策品質的形成關鍵在於政府如何有效管理、促進多元行動者互動以達成決策的參與過程；然而，回顧文獻發現，決策品質主題卻為學界所忽略。因此，本文從參與式治理觀點出發，以利害關係人之角度切入，選擇全民健保總額制度下的牙醫門診總額支付委員會作為個案，嘗試建構出決策品質評估架構。研究發現，由下至上的利害關係人參與過程不但有助於資訊的蒐集與分享、正確地界定問題，亦促進了利害關係人凝聚共識；同時，平等尊重的溝通態度，增強了政策學習功能；加上公共管理者適時地扮演領導角色，有效解決衝突，促進了決策過程的互動與效率。然而，研究亦顯示支委會決策過程仍有不足之處；參與決策行動者之包容性與代表性仍有改善之空間、決策資訊未達公開透明化、法律規範的模糊不清、以及決策原則標準的缺乏。因此，本文建議應該擴大參與團體類別並考量其行動能力，具體強化多元代表參與之可能；同時，應建立法規和參與機制之適當連結，確立相關法律規範，實踐權責分明的決策過程；最後，更應強調互動討論過程的公共商議精神，促進理性決策的落實。此外，也建議學界未來可著力於相關實務經驗研究，設計更為完善的評估架構，以期對於決策品質面向提供更為豐富完整的論述。 / Under the trend of democratic reform, the way of public administration has changed from despotic to participatory governance. The forms of participatory governance include deliberative democracy, citizen-centered collaborative public management, and collaborative governance. The core of participatory governance is threefold which includes involving multiple stakeholders into policy-making process, to make decisions collectively, and to base public policy making on public opinion. However, after reviewing the literature, it can be found that seldom are there studies of decision-making quality. The quality of decision making lies in effective management of the process; that is, how to encourage and manage different stakeholders’ interactions to make decisions counts a lot. Consequently, this thesis intends to fill the gap by studying the quality of participatory governance and choosing the committee of Dental Global Budget Payment System as a case to establish evaluation framework of decision-making quality based on policy stakeholder participation theory. The research findings reveal several important insights of committee governance. First, on the good side, bottom-up stakeholders’ participation is beneficial not only to the collection and share of policy information to define proper policy questions, but also to the cohesion of stakeholders’ consensus. The way of equal and respectful attitude to communicate accentuates policy-learning function during the process. Furthermore, public managers play a leading role at the right moment to solve a conflict effectively and to promote the efficiency of decision-making interactions. However, there are some defects about the process. There is some room for improvement about the inclusiveness and representativeness of participation groups. Also, the openness of decision-making information is still far from the standard of transparency. The ambiguity of statutes interpretations and the lack of decision-making principles are critical problems to solve as well. Therefore, this study suggests that the government should include even more diverse and complete stakeholders into the decision-making process and help to increase their competence to participate. Also, an effort to closing the gap between regulations and participative mechanism should be made in order to increase the outside-accountability of the process. Thirdly, the spirit of public deliberation should be highlighted during the interactions to increase the rationality of decision-making. Lastly, in order to create a more adequate evaluation framework, this thesis suggests that academia should devote more time to study the issue of public decision-making quality in the era of participatory governance.

本文旨在討論地方黨政機構對當地社會組織的治理動機及治理行為，以「統合主義」結合「國家能力」作為理論工具，觀察中國現階段地方黨政機構與社會組織互動的實質情況。本文認為，中國的國家與社會關係，目前處於國家統合主義的大架構下，地方黨政機構及官員在對經濟性中介組織進行治理時，其主要理性來自於「幹部責任制」 ，官員為確保自身政治前途，而會極力設法達到上級政府訂定的經濟指標──如「經濟增長」及「財政收入」──因而會產生「增強治理能力」和「延伸治理邊界」兩種動機，對合乎其要求的社會組織進行選擇性的治理行動，即「組織改造」或「組織創造」。文本同時提出，在地方層級，「黨」與「政府」的角色有所分化，地方政府會基於「增強治理能力」的動機，選擇是否創造一個社會組織；而地方黨組織則會基於「延伸治理邊界」的動機，決定是否將已存在的社會組織納入管制範圍，其前者是經濟性的動機，而後者則是政治性的動機，二者分別決定了政府部門與黨組織的行動方式。至於受到選擇的社會組織，因處於國家統合主義的制度環境下，通常會與政府合作作為交換利益的方式，而雙方互動的方式則是以社會資本為媒介進行的組織資源移轉。

過去對於台灣單一廠商朝向大型集中化的企業集團發展及其在地交易治理模式的現象較少涉及，本研究由網絡理論出發，扣連華碩集團作為研究場域，援引Håkanson企業全球擴張模式，企圖論證華碩企業集團化過程中，如何透過獨資或合資之進入模式，佈局全球在地網絡關係，進而運用Powell組織治理模式，探討企業集團在地網絡治理模式。有別於過去文獻單從政治經濟學詮釋企業集團介入不同產業時，強調國家角色的重要性；或者從經濟地理學探討單一產業之廠商全球佈局或跨界生產網絡建構與在地鑲嵌實證研究，期能補充過去文獻之不足。經研究後發現： 一、Håkanson於1979年所提出之企業集團全球擴張模式，無法適用於華碩全球網絡擴張模式。 經本研究分析，Håkanson所提出的企業集團全球擴張模式，無法適用於華碩企業集團的全球網絡擴張模式，就其原因，應與現今之企業集團受全球網絡接軌、資訊技術的進步、市場全球化、專業技術的研發及台灣中小企業的靈活性等因素影響。故本研究依華碩案例，整理出企業集團全球擴張模式的三階段，1.單一廠商及採用海外銷售代理商階段；2.滲透到個國內外市場階段；3.產生跨國產業的公司。 二、Powell的組織交易治理模式，可以解釋華碩企業集團全球網絡下各公司在地網絡治理行為。 Powell強調網絡是一個重要的組織交易治理模式，相關研究亦指出華人企業比較重視「網絡」，透過華碩企業集團案例分析，顯示研發活動受到確保關鍵技術的限制而採用層級型；在製造活動上，受到控制產品品質及降低成本的需求，初期會採用層級型，然後隨着產品多樣化而採用網絡層級型；行銷活動為了獲取最大的銷售利益，在單一技術多角化經營期間採用市場網絡型，隨着產品多樣化而採用市場型。 三、本研究所選擇的四個影響在地組織交易治理模式因素，僅有企業價值活動具解釋性。 透過企業發展階段、各公司設立時間、進入模式及企業價值活動等四個選擇因素的迴歸分析，發現各分、子公司所從事的企業價值活動對在地組織交易治理模式有顯著影響。 / There are few researches on how a Taiwanese single manufacturer developing into a hyper-centralized group and what its localized business and management model is. Hence this paper is employed the network theory to Asus as studied case and applied Håkanson’s Corporate Global Expansion Model for Asus’ group developing process to try to explain how employ solely or joint investment entering model to layout global localized network. Furthermore, employ Powell’s organization management model to explore corporate group’s local management network. This dissertation is different from most papers focus on the role of country when interpreting from political economy view that how corporate group enters various industry. It is also different from economic geography view to explore how one single manufacturer layout globally or across industry to setup and localize completely production. I hope the approach of this paper can fill the gap. Findings: 1. Håkanson’s Corporate Global Expansion Model submitted in 1979 can not be applied for Asus’ global network expansion model. The reason why Håkanson’s Corporate Global Expansion Model can not be applied for Asus’ global network expansion model is modern corporate group is highly influenced by global network, information technology, market globalized, and the development of professional skills, and the flexibility for Taiwanese middle and small companies. It can be concluded that there are three stages for the corporate group to expand globally based on case Asus. First is one single producer and oversea sales agent, the next step is penetrating to foreign market, and the third phase is one cross-country manufacturer is born. 2. Powell’s organization management model can explain how Asus’ individual company’s local managing behavior under the global umbrella of Asus Corporate Group. Powell emphasizes the network is a very important organization business management model. All the relative researches also point out that Chinese enterprises consider “network” more important than the others. Base on the stud of Asus, this paper indicates R & D development is restricted for protecting critical technology so as to employ ranking mode. As in production, by the request of controlling product quality and lowering down cost, at first, the ranking mode is required, then, along with product variety increasing, the network mode is employed. Marketing activity aims to maximize selling profit. Asus employs market network mode for a single technology with diversified managing phase while market mode for product variety situation. 3. Researching four chosen factors of influencing local organization business managing model, enterprise value activity only is explainable. Based on the regression analysis for four chosen factors as enterprise developing stages, the setup date of each subsidiary or branch office, entering models, and enterprise value activity, the enterprise value activity of each subsidiary or branch office does significant influence on local organization business managing model.

我國政府積極投入電子化政府建設已有十多年，與過去研究(Weill & Ross, 2004)中論及非營利組織相當重視資訊科技投資的研究結果是一致的，並且，資訊科技的導入與落實需要組織中其他因素的配合以達到良好的成效，其中一個重要的因素即為組織結構的調整。過去關於資訊組織結構的研究，大多以一般的企業為研究對象。 隨著2000年之後，我國政府開始從事組織改造，政府組織策略及資訊組織改造對我國經濟的影響日益顯著。並且，隨著資訊組織在政府整體發展中的角色日益重要，對政府資訊組織發展的研究成為最新的趨勢和最有潛力的議題之一。 為了前瞻未來政府資訊組織的發展，本論文對於我國某部級政府資訊組織的發展歷程以及其與所屬機關資訊組織之間的關係進行個案實證研究，並且，對於未來個案的組織結構、功能任務、以及與所屬機關資訊組織之間關係，與相關主管進行訪談討論，並進行歸納分析。本研究的結果為：資訊科技演進與調整資訊組織的結構、調整資訊組織的地位、調整資訊組織的授權型態有所關聯、以及在專業式官僚組織的型態下可透過資訊治理的落實來接受創新的挑戰。 本論文亦總結學術與實務意涵。學術價值歸納後呈現在以下幾個方面：對有關組織結構理論進行系統性的回顧和總結、政府資訊組織結構演進模型的建立、以及對政府資訊組織發展歷程進行客觀的描述。而實務意涵主要展現在以下幾個方面：有助於分析政府資訊組織演進發展的歷程和趨勢、以及有助於我國政府資訊組織從組織面迎接電子化政府挑戰。

本研究探討台灣會計師公費揭露的市場反應，並以累計異常報酬（CAR）來衡量市場反應。第一階段針對是否揭露會計師公費研究其不同的反應；第二階段再將有揭露會計師公費的公司區分為主動揭露與被動揭露，並探討是否會造成不同的影響；第三階段更進一步將被動揭露的公司依其所符合的法規揭露原因再做細分，特別探討因為非審計公費過高而揭露公費者之市場反應。 研究結果發現，相較於不揭露會計師公費的公司，市場對於有揭露會計師公費資訊的公司會給予較正面的反應；其中，有揭露會計師公費的公司，若屬於主動揭露，市場更是會給予正面的肯定；相反的，有揭露會計師公費的公司，若是因非審計公費達審計公費之四分之一以上者而被動揭露者，市場會對此公司之會計師之獨立性有所懷疑，故給予負面的反應。可見會計師公費的資訊對投資大眾而言確實是一項有意義且重要的資訊。本研究並加入公司治理的相關變數，研究結果發現，若公司之治理程度較差，但「有揭露」會計師公費資訊者，投資大眾會給予正面的反應，此外，相對於被動揭露者，市場對於「主動揭露」之公司會給予更正面的肯定。另一方面，若公司之治理程度較佳，但其揭露原因是屬於非審計公費達審計公費四分之一以上而被動揭露者，市場會對會計師獨立性有所質疑，故對於此種公司仍給予負面的反應。 / This study attempts to examine audit fee disclosure and market reactions. We use Cumulative Abnormal Returns to measure market reactions. First, we analyze whether audit fee disclosure has any market reactions at all. Second, we divide the samples into voluntary disclosure and forced disclosure groups. Third, we make further segmentation from the forced disclosure group according to their disclosure reasons, and specially focus on the disclosure reason of high non-audit fees. We find that market reactions are significantly more positive for firms with audit fee disclosures than for firms without fee disclosure. Market reactions are also significantly better for firms with voluntary disclosure than the forced disclosure group. In contrast, market reactions are significantly lower for firms which disclose audit fees due to high levels of non-audit fees. Our evidence supports that audit fee is a piece of useful and important information to investors. Additionally, we include corporate governance variables in the analysis. We find that when firms’ corporate governance is not good, if they choose to disclose audit fee voluntarily, the market responds with positive reactions. In contrast, if a firm’s corporate governance is quite good but discloses audit fees due to high levels of non-audit fee, the market then reacts with negative returns.

本研究探討我國導入一系列公平價值會計之市場反應，本文分別從市場景氣狀況以及財報品質、盈餘管理及公司治理四個面向檢視資本市場之反應。實證分析顯示，由於公平價值會計的順循環效果，於市場景氣較佳時其異常報酬較高，反之則較低，而金融業順循環效果比一般產業來的強，而財報品質愈差、盈餘管理可能性愈高、公司治理機制愈弱的企業，股票市場對此事件的正向反應愈強，其原因可能為公平價值會計導入將有助於提升財報品質、降低盈餘管理的機會，並減少內外部人資訊不對稱的情況。 本研究結果顯示公平價值會計的採行將有助於財報透明度的提升，避免企業財報隱藏其財報增減值的部分，對投資者是具有效益的，但同時，公平價值會計將財報資訊與市場景氣連結，將造成其財報數值的波動加劇。 / This research from four aspects, business cycle, financial reporting quality, earnings management, and corporate governance, examines that Taiwan stock market reaction to the seventeen events associated with adoption of Fair Value Accounting (FVA). The empirical results reveal that due to Fair Value Accounting’s procyclical effect, when economic is booming the market tends to positively react with FVA and banking industry displays a higher procyclical effect than other industries. The study also finds that with FVA investors tend to have positive reaction on firms’ pre-adoption information with lower financial quality, higher earnings management possibility and weaker corporate governance. The findings suggest that the FVA adaption increased the quality of financial reporting, reduced earning management and decreased information asymmetry. In the meantime, the FVA links financial reporting with business cycle which might aggravate the financial reporting’s fluctuation.