本研究以2002至2004年非金融業之臺灣上市櫃公司為研究對象，從經營績效、股權結構及公司治理特性等觀點，探討企業發生委託書徵求事件之決定性因素、經營績效及其與盈餘管理行為之關聯性，並進一步分析企業特質對企業從事常態性委託書徵求行為之影響。就委託書徵求事件之決定性因素而言，本研究發現，整體績效表現愈差、獲利能力愈差、現金股利發放愈少、內部人持股比率愈低、董監事質押比率愈高、最終控制者之股份控制權愈低、席次偏離股份控制權程度愈大之企業，發生委託書徵求事件之機率愈高。經營績效之實證結果顯示，徵求委託書、利用金字塔及交叉持股之控股結構、控制權偏離所有權程度愈大之企業，當期之經營績效較差。前述實證結果亦適用於常態性徵求委託書之企業。至於委託書徵求事件與盈餘管理行為之關聯性而言，委託書徵求為企業從事盈餘管理行為之誘因之一，尤其在常態性徵求委託書之情況更為顯著。企業之董監事質押比例愈高、負債比率愈高、席次控制權偏離盈餘分配權程度愈大、控股結構複雜度(金字塔結構或交叉持股)愈高，其盈餘管理幅度較高。 / Based on a sample of non-baking corporations listed on Taiwan Securities Exchange and Over the Counter over the period of 2002 to 2004, this thesis first investigates the determinants and operation performance of proxy solicitation behavior, followed by examining the relationship between proxy solicitation and earnings management. In addition, the characteristics of companies that appeal to proxy solicitation on a regular basis are also studied. The empirical results show that companies with poorer overall performance, poorer profitability, lower cash dividend payout ratio, lower insiders shareholdings, higher share pledge ratio by the board members, lower control rights, and higher deviation in control rights from cash flow rights, are more likely to apply proxy solicitation. The empirical findings also indicate that companies with proxy solicitation, pyramid and cross-holdings structures, and higher deviation in control rights from cash flow rights, tend to have worse operating performance for the current period. The findings aforementioned can also apply to the companies that repeatedly employ proxy solicitation. This research documents that proxy solicitation is strongly associated with earnings management behavior, especially for companies that apply proxy solicitation repetitively. Companies with higher share pledge ratio by the board members, higher debt ratio, higher deviation in control rights from cash flow rights and employing pyramid and cross-holdings structures, are found to be associated with higher magnitude of earnings management.

本研究以台灣上市、上櫃及興櫃公司為研究對象，利用問卷發放的方式，探討我國企業公司治理特質與內部稽核對財務報導可靠性貢獻之關係，並調查我國內部稽核之現況，以及內部稽核人員與外部查核人員之互動情形。本研究之實證結果顯示：（1）「公開發行公司建立內部控制制度處理準則」於2005年修訂，規定內部稽核單位應直接隸屬於董事會之後，內部稽核人員普遍認為其地位與獨立性有明顯提升。但我國企業內部稽核規模仍偏低，以1~2人為主；（2）監察人（或審計委員會）複核內部稽核工作之範疇、內部稽核之規模、內部稽核人員與外部查核人員之互動情形等，與內部稽核對財務報導可靠性之貢獻度呈顯著正相關 ；以及（3）針對內部稽核人員與外部查核人員之互動情形（包含工作協調、溝通、外部查核使用內部稽核結果之程度），內部稽核人員的認知普遍優於外部查核人員的認知。 / This paper examines the relationship between corporate governance characteristics and internal auditors’ assessments of their contributions to financial reporting reliability. This study also investigates the current status of internal auditing in Taiwan and the interaction between internal auditors and external auditors. Our results show that (1) since the applicable laws require that the internal audit department must report directly to the board of directors, internal auditors’ independence and position in their companies have improved significantly. However, the number of internal auditors in most companies is still low; (2) the extent to which the supervisors (or audit committee members) review internal audit results, the total numbers of staff in an internal audit department, and the relationship between internal and external auditors are positively related to internal auditors’ contribution to a firm’s financial reporting reliability; and (3) in general, internal auditors’ perceptions of their interactions with external auditors is better than those of external auditors.