風險性資訊之揭露，為目前財務報導中較為缺乏的部分，企業雖有風險管理之政策，然而多數公司對外揭露採取保留態度。因此，使用者難以從財務報導中了解企業對於風險管理的實際狀況，且難以評估該風險狀態對於使用者之影響。本研究針對公司經營層面進行分析，將風險性資訊劃分為營運策略與關係人交易二類加以探討，其中營運策略部分，欲瞭解公司內部經營多角化程度、跨國性程度以及銷貨對象是否會改變公司系統風險；關係人交易之揭露，欲檢視關係人交易之產生，是否為策略聯盟或轉投資之經營型態下所產生之現象，抑或是公司用以進行不合常規交易之管道，以及其與公司系統風險之改變是否有所關聯。本研究以風險性資訊與公司系統風險進行迴歸分析，實證結果發現，公司之跨國性程度對於系統風險具有顯著之關聯性；關係人交易部分，在銷貨及進貨兩項達到顯著之負相關，代表公司可能以與關係人之交易來穩定公司之主要營運，業外的部分反而會提高公司之風險。使用者得以透過該等資訊之揭露，了解企業所面臨的風險，進而評估其投資策略，並加強財務報導對於報表使用者之效用。 / There are very limited disclosures of risk information in financial reporting. Risk management policies exist within the enterprises, however, most enterprises are not eager for disclosure as a result, users are difficult in evaluating risk status of a corporation through financial reporting system. This study divides risk information into: 1) operational strategy and 2) related-parties transactions. The former intends to find out whether the degree of diversification, and multi-national operation, and clientele concentration has an effect on systematic risk or not. The related-parties transactions are intended to test whether they are the result of strategic alliance and reinvestment strategy, or the vehicle for irregular transactions, and their effect on company’s systematic risk. Regression analysis showed that company’s degree of multi-national operation is positively correlated with systematic risk. On the other hand, purchases and sales transactions among related parties transactions are negatively correlated with systematic risk, which suggests that corporations may be engaging in related party transactions to stabilize company’s major operation. The findings of this research suggest that disclosure of company risk management policies in financial reporting improves the quality of accounting information.
| Identifer | oai:union.ndltd.org:CHENGCHI/G0093353055 |
| Creators | 江千慧 |
| Publisher | 國立政治大學 |
| Source Sets | National Chengchi University Libraries |
| Language | 中文 |
| Detected Language | English |
| Type | text |
| Rights | Copyright © nccu library on behalf of the copyright holders |
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