| Summary: | 碩士 === 立德大學 === 國際企業管理研究所 === 96 === This study is designed to provide design into the Information Disclosure and Transparency
Ranking System (IDTRS) of Taiwan Securities and Futures Institute (SFI) by examining on
the Influence Factors of Voluntary Financial Forecasts. We study data for all Taiwanese
listed companies from 2005 to 2006. We find that voluntary financial forecast companies
should have better accounting performance and have lower volatility of accounting
performance than non-voluntary financial forecast companies, ceteris paribus. In addition,
the high disclosure level companies have better accounting performance and lower volatility
of accounting performance. In addition, embedding the auditor reputation and government
shareholding in the model. We find that Voluntary forecasts policy has better effect to less
information asymmetry than auditor reputation. We also find more government shareholding
has greater earnings quality. Lastly, examining whether voluntary financial forecasts affects
the quality of reported earnings. We concluded that voluntary financial forecast unable
effectively to decrease the company optimistic earning forecasting .From the policy
perspective, financial forecasting system still have more improvement.
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