| Summary: | 碩士 === 國立臺灣大學 === 會計學系 === 85 === AbstractGraduate Institute of AccountingNational Taiwan
UniversityTitle : A Study of Earnings and Capital Market
Reaction Associated with Pension CostName : Hsu,
Min-chingAdvisor : Eric Liluan Chu, Ph.D.Mo./Yr. : June, 1997
The purpose of this study is to examine the relationship among
pension cost, earnings and capital market reaction. This thesis
can divide into three parts. The first part of this study uses
four characteristic variables : fundingposition, years of
company established, average years of work and numbers of
employees, to investigate if these characteristics affect extent
of the earnings of company. The results support to hypothesis
one to three, but not to hypothesis four. The second part of
this study uses abnormal return（AR）and cumulative abnormal
return（CAR）to examine the capital market reaction to the
following five specific events : 1. The date of statement No. 18
exposure draft issued,2. The date of statement No. 18 issued,3.
The date of SEC Statement No. 00142 issued,4. The date of
financial statements during the accounting period ended
December 31, 1995 issued,5. The date of financial statements
during the accounting period ended December 31, 1996 issued.
The results indicate that for event one, four and five, the
market did have negative reaction, for event two it had positive
reaction, for event three it did not have clear and definite
reaction. The third part of this study uses five characteristic
variables described in the previous paragraph to examine if
these characteristics affect extent of the capital market
reaction. The results support to hypothesis six to eight, but
not to hypothesis nine.
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