臺灣博碩士論文加值系統

中文摘要
本研究找出了關於在採用國際會計準則 ( International Financial Reporting Standards；以下稱 IFRS) 前後差異，是否存在盈餘宣告後股價持續反應(PEAD)的證據，並測試了台灣PEAD的一系列因素；本研究考察了2009年至2021年期間台灣股票市場上基於分析師預測的未預期盈餘(earnings surprises)的交易獲利能力。顯示並沒有證據表明台灣證券交易所在2013年採用IFRS 的訊息揭露改革有改變了PEAD的規模。也結果顯示，PEAD在台灣市場似乎在慢慢消失對未來盈餘宣告的影響。

ABSTRACT
This study identifies evidence on whether there is a persistent post- earnings announcements drift (PEAD) before and after the adoption of International Financial Reporting Standards (IFRS), and tests a range of factors to explain PEAD in Taiwan. This study examines the profi-tability of transactions based on analysts' predictions of earnings surprises in the Taiwan stock market over the period 2009 to 2021. There is no evidence that the adoption of IFRS disclosure reforms by the Taiwan Stock Exchange in 2013 has changed the size of PEADs. The results also suggest that PEADs in the Taiwan market appear to be slow-ly disappearing in terms of their impact on future surplus announce-ments.

目錄
中文摘要 i
英文摘要 ii
致謝 iii
目錄 iv
圖目錄 v
表目錄 vi
附錄 vii
第一章、緒論 1
第一節、研究背景與動機 1
第二章、文獻探討及回顧:台灣和各國在採用IFRS 前後之比較 5
第一節、文獻回顧 5
第二節、台灣股票市場的相關法規及市場效率 8
第三節、各國PEAD及因採用IFRS會計制度改變的實證 10
第三章、 數據、變量描述和研究方法 13
第一節、變量定義 16
第二節、樣本和描述性統計摘要 20
第四章、實證結果 22
第一節、回歸分析 22
第二節、投資組合分析 24
第三節、2013年IFRS的前後期披露改革和PEAD 26
第四節、本研究的對沖策略及投資績效 28
第五章、總結與結論 30
參考文獻 31
附錄 36

參考文獻
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