| Summary: | 碩士 === 國立臺灣大學 === 會計與管理決策組 === 107 === This study mainly investigates whether internal shareholding ratio, institutional shareholding ratio and the relative position of industry chain has a prominent impact on earnings management. Samples are from TEJ database, with the Modified Jones Model adopted to estimate adjudicative accruals, whose absolute value represents the degree of earnings management. The major independent variables include the industry chain position and several kinds of shareholding ratio, while the major control variables include elements in financial reports.
The results show that the internal shareholding ratio and the foreign institutional investor''s shareholding ratio have a significantly positive effect on earnings management. The investment trust’s shareholding ratio and the dealer’s shareholding is generally very low, so they don’t have significant effect on earnings management. Under the perspective of industry chain, model I finds there is no significant difference in the degree of earnings management between upstream and downstream companies, while the midstream companies are less than the downstream companies in degree of earnings management; the model II has no significant difference.
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