民國八十年後，政府積極推動金融自由化與國際化及開放民營銀行之設立等政策，致使我國銀行業面臨空前激烈之競爭，而政府為加強對銀行業之金融監理及金融檢查功能，必須仰賴銀行所提供之會計資訊作為定期檢查銀行業務時，分析銀行經營績效之參考；此外，一般投資人因資訊取得之困難與成本效益之考量，亦常傾向於以銀行公開之財務報表來評斷銀行經營績效。因此，深入探析我國銀行業之盈餘管理行為，將有助於政府及投資人評估銀行之經營風險及績效。 本研究以民國八十年至民國八十八年為研究期間，首先分析銀行業是否有延遲認列損益之行為，接著從股權結構面（包含公、民營銀行及董監事持股比率）探討我國銀行業之盈餘管理行為，藉以瞭解銀行在受政府法規高度管制之情況下，是否會因股權結構之不同而有不同之盈餘管理行為。其次，本研究亦從資本市場誘因之觀點，探析國內新上市銀行於上市前為符合上市條件，而上市後為避免更新已公開之財務預測，是否會造成盈餘管理行為有所差異。 實證結果顯示：（1）我國銀行業之損益操弄項目普遍存在季別差異之現象，除了有延後認列損益操弄項目至第四季外，同時也發現銀行第二季損益操弄項目有高於第一、三季之情形，似有半年報之效果呈現；（2）民營銀行之第四季處分資產損失、壞帳費用及提列其他損失準備佔全年比例顯著高於公營銀行，顯示民營銀行在第四季認列費用或損失之動機強於公營銀行；（3）銀行董監事持股比率會對第四季損益操弄項目佔全年比例有所影響之假說未獲得支持；（4）銀行上市前二年之營業利益及稅前純益佔實收資本比率之平均數，皆達10%獲利水準門檻，且皆顯著高於上市後第二年，據此間接證明銀行上市前之盈餘管理目標係在維持獲利水準達到10%之門檻；（5）達成財務預測之銀行會傾向於在第四季多認列壞帳費用，至於利益操弄項目，則並無第四季佔全年比例顯著高於前三季之情形。 / Banking industry in Taiwan is highly regulated and scrutinized by the banking law and government. Regulators of banking industry require that banks must satisfy certain capital adequacy ratio that is explicitly tied to accounting numbers. The regulating bodies have authority in inspecting banks' businesses and examining their financial reports periodically to evaluate their underlying performance. Based on a cost-benefit consideration and availability of information, the investors also analyze the performance of banks using their public available financial statements. The earnings behavior of firms in the banking industry is therefore essential for both regulators and investors in procuring the knowledge about the operating risk and performance of banking firms. Focused on the firms in the banking industry over the period of 1991 to 1999, this thesis first investigates whether the sample firm is subject to an earnings behavior of delayed recognition of their income and losses. The thesis also examines the influence of ownership structure on banks’earnings management behavior through the analysis of income manipulation ratios. Furthermore, in view of capital market incentives, this thesis studies whether going listed in Taiwan Stock Exchange would cast impacts on banks'earnings management behavior as banks are subject to different earnings management objectives (targets). The empirical results document that the fourth quarter ratios of the interim income manipulation items are larger and more variable than those of the other three quarters. This suggests that banks tend to delay their recognition of income manipulation items till the fourth quarter. The empirical findings reveal that the propensity for manipulating the fourth quarter expense/loss items is significantly greater for private banks than for state-owned banks. However, the empirical results cannot support the hypothesis that management ownership (the holdings of the directors and supervisors) will affect the magnitude of earnings management. With respect to capital market incentive issues, the empirical evidence indicates that for newly listed banks, both the two-year average operating income to capital ratio and income before tax to capital ratio before listing reach and not greatly exceed the 10% threshold. The evidence shows that these two ratios decline significantly in the second year after listing. The findings also suggest that listed banks which achieve their financial forecasts tend to recognize more bad debt expenses for the fourth quarter, while the pattern cannot manifest itself in the gain manipulation items.

盈餘對公司來說是最簡單、最直接之績效衡量指標，故盈餘之報導對公司相當重要，也因此過去有關盈餘管理及損益平穩化行為之相關研究將重點放在報導水準受到各種因素、各類利害關係人之影響。公司之控制權掌握在股東手中，因此股東對盈餘報導之影響不容忽視；但股東（同時也是投資人）之投資目的及投資策略不盡相同，對盈餘之影響亦可能不同。此外，同產業之公司間會因投資人對其所做之相對績效評估而有相互競爭之行為，致使同產業之行為可能有趨向一致之情況，不同產業則可能不同。 　　本研究以民國八十三年至民國八十八年為研究期間，針對我國上市公司研究其損益平穩化行為，從股權結構觀點（以長、短期投資之股東持股比率）探討其與公司損益平穩化行為之關係，藉以瞭解投資人之投資目的不同對公司長期盈餘之趨勢有何關聯性。其次，針對我國電子產業與非電子產業進行產業效果之研究，探討損益平穩化行為之不同是否與產業有關，以及電子產業損益平穩化之傾向。 　　實證結果發現：(1)公司之平穩化行為與股權結構有顯著關聯性；(2)當公司長期投資之股東持股比率愈高時，公司傾向不採行損益平穩化；(3)當公司短期投資之股東持股比率愈高時，公司愈傾向平穩化其損益；(4)產業因素與我國上市公司損益平穩化行為有顯著關聯性，不同產業之平穩化行為不同，且電子資訊產業傾向不從事損益平穩化。 / Earnings is the simplest and most straightforward indicator of a company's performance. Therefore, earnings reporting could be a crucial concern for an investor's decision-making. There are a lot of researches regarding earnings management and income smoothing focused on how the role of stakeholders and other possible factors would affect the accuracy of a company's earnings reporting. For most companies, their shareholders control the core business activities, and thus it is hard to ignore their impact on the earnings performance. However, due to the discrepancy of investing policies and activities of different types of investor, the extent to which the types of shareholders could influence a company's earnings can be varied. Besides, since companies in the same industry always compete for better performance resulted from investors' relative performance evaluation, there is also a trend that the companies in the same industry would behavior in a similar way when reporting their earnings. 　　In order to prove that there's a significant relationship between a company's trend of reported earnings and its shareholders' investing goals, this thesis collects the overall market data from 1994 to 1999 and then examines each company's income smoothing behavior. In addition to testing whether a company's decision to exerting income smoothing is contributed to the portions of long-term and shot-term shareholders, this thesis also tries to identify whether the industry effect exists among the electronic industry and other industries that can make different industries have discrepant income smoothing behaviors, and find the electronic industry's income smoothing intent. 　　The empirical results document that: (1) A company's income smoothing behavior is significantly related to its ownership structure; (2) A company with larger portion of long-term shareholders tends to not adopt income smoothing strategy; (3) A company with larger portion of short-term shareholders tends to adopt income smoothing strategy; (4) The industry effect is significantly related to companies’ income smoothing behaviors. Different industry has different pattern of income smoothing behavior. The companies in the electronic industry tend to not adopt income smoothing strategy.