The value relevance of the adjustment of accounting change from ROC GAAP to IFRS：the effect of board characteristics

• Main Authors: Chieh-Ju Liu, 劉杰茹
• Other Authors: Ching-Hsiang Lin
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/95459386454143857866

碩士 === 國立高雄第一科技大學 === 財務管理研究所 === 101 === In 2009, the Financial Supervisory Commission, R.O.C. announced that listed firms should officially adopt the International Financial Reporting Standards to make financial reports from 2013 and disclose the adjustment of accounting change between ROC GAAP and IFRS of 2012 in their Consolidated Financial Reports. Using adjustment of accounting change of all listed companies in construction industry from first quarter to third quarter of 2012, the research discusses whether disclosing the adjustment of accounting change affects the value relevance. Additionally, we test the relation between adjustment of accounting change and shareholders’ equity by adding the board characteristics. Our finding indicate that the adjustment of accounting change have the value relevance in construction industry. The adjustment of accounting change in shareholders’ equity have positive impact on market value of equity and the adjustment of accounting change in liability have negative impact on the market value of equity. Additionally, when the director and supervisors’ shareholding ratio or independent directors are higher, the adjustment of accounting change in shareholders’ equity will increase the value relevance. But when the board of directors is bigger, the relation between the adjustment of accounting change in shareholders’ equity and market value of equity will decrease.