The Effects of Information Transparency on Value and Informativeness of Earnings
博士 === 國立雲林科技大學 === 管理研究所博士班 === 100 === The purpose of this study is to investigate the information content of information transparency. Using Ohlson’s Model (1995), first this study tests information transparency as the other information which affects the market value of enterprise. Second this s...
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ndltd-TW-100YUNT51210112015-10-13T21:55:44Z http://ndltd.ncl.edu.tw/handle/77652557128851481245 The Effects of Information Transparency on Value and Informativeness of Earnings 資訊透明度之價值攸關性與盈餘資訊性 Shaw-ping Chen 陳筱平 博士 國立雲林科技大學 管理研究所博士班 100 The purpose of this study is to investigate the information content of information transparency. Using Ohlson’s Model (1995), first this study tests information transparency as the other information which affects the market value of enterprise. Second this study tests information transparency as the moderator which affects the investor attitudes toward accounting information. Then, this paper includes the life stages as an enterprise attribute to reexamine the relationship between enterprise equity value and information transparency. In addition, using Tucker and Zarowin’s model (2006), this study exploits the impact of information transparency on current returns and future earnings. The results of both the equity evaluation model developed by Ohlson (1995) and future earnings response coefficient (FERC) processed by Tucker and Zarowin’s (2006) indicate the informativeness of information transparency. Information transparency can be considered as additional information that affects enterprise equity value and as a moderator that moderates the relationship between accounting information and equity value. After incorporating an additional enterprise attribute, this study finds that enterprises in a growth stage have greater positive relationship between information transparency and equity value than that of those in the maturity or decline stage and enterprises in the decline stage have greater positive relatioship between information transparency and equity value than that of those in the maturity stage. From future earnings response coefficient perspective, the results show that firms with relatively more infomative disclosures bring more future information and this information is incorporated into the current stock return. In other words, information content exists in information transparency. Chung-Jen Fu Yu-Chi Lin 傅鍾仁 林有志 2012 學位論文 ; thesis 86 zh-TW |
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博士 === 國立雲林科技大學 === 管理研究所博士班 === 100 === The purpose of this study is to investigate the information content of information transparency. Using Ohlson’s Model (1995), first this study tests information transparency as the other information which affects the market value of enterprise. Second this study tests information transparency as the moderator which affects the investor attitudes toward accounting information. Then, this paper includes the life stages as an enterprise attribute to reexamine the relationship between enterprise equity value and information transparency. In addition, using Tucker and Zarowin’s model (2006), this study exploits the impact of information transparency on current returns and future earnings. The results of both the equity evaluation model developed by Ohlson (1995) and future earnings response coefficient (FERC) processed by Tucker and Zarowin’s (2006) indicate the informativeness of information transparency.
Information transparency can be considered as additional information that affects enterprise equity value and as a moderator that moderates the relationship between accounting information and equity value. After incorporating an additional enterprise attribute, this study finds that enterprises in a growth stage have greater positive relationship between information transparency and equity value than that of those in the maturity or decline stage and enterprises in the decline stage have greater positive relatioship between information transparency and equity value than that of those in the maturity stage. From future earnings response coefficient perspective, the results show that firms with relatively more infomative disclosures bring more future information and this information is incorporated into the current stock return. In other words, information content exists in information transparency.
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author2 |
Chung-Jen Fu |
author_facet |
Chung-Jen Fu Shaw-ping Chen 陳筱平 |
author |
Shaw-ping Chen 陳筱平 |
spellingShingle |
Shaw-ping Chen 陳筱平 The Effects of Information Transparency on Value and Informativeness of Earnings |
author_sort |
Shaw-ping Chen |
title |
The Effects of Information Transparency on Value and Informativeness of Earnings |
title_short |
The Effects of Information Transparency on Value and Informativeness of Earnings |
title_full |
The Effects of Information Transparency on Value and Informativeness of Earnings |
title_fullStr |
The Effects of Information Transparency on Value and Informativeness of Earnings |
title_full_unstemmed |
The Effects of Information Transparency on Value and Informativeness of Earnings |
title_sort |
effects of information transparency on value and informativeness of earnings |
publishDate |
2012 |
url |
http://ndltd.ncl.edu.tw/handle/77652557128851481245 |
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