| 項目 | 資料 |
|---|
| 卷期Vol. & No. | 第10卷第1期 Vol 10 No. 1 |
| 標題Title | 銀行業衍生性金融商品與裁決性壞帳之關聯性研究The Relation between Derivatives and Discretionary Bad Debt Expense in the Banking Industry |
| 作者Authors | 王蘭芬 薛敏正 顏莉萍Lan-Fen Wang Min-Jeng Shiue Li Ping Yen |
| 出版日期Publish Date | 2009-05-31 |
| 摘要Abstract | 本研究旨在自盈餘平穩政策方向著手，探討銀行業衍生性金融 商品與裁決性壞帳於盈餘平穩化策略下之關聯性，同時進一步分析交 易目的與非交易（避險）目的衍生性金融商品與裁決性壞帳間互動性 之強度。以 2002 年第 1 季至 2004 年第 3 季間國內上市上櫃銀行業為 研究對象，共計 30 家樣本銀行，採用聯立方程組之兩階段最小平方法 為主要分析方法，驗證國內上市上櫃銀行業利用衍生性金融商品與裁 決性壞帳進行盈餘平穩之行為。實證結果發現，國內銀行業會交替使 用衍生性金融商品交易與裁決性壞帳以進行盈餘平穩化；另項有趣的 發現是交易與非交易目的衍生性金融商品與裁決性壞帳間之替代性具 有顯著差異，且非交易目的衍生性金融商品與裁決性壞帳間之替代性 強度高於交易目的衍生性金融商品。This study investigates whether managers using trading or non-trading derivatives and discretionary bad debt expense as partial substitutes for smoothing earnings. Research samples are collected from Taiwan Listed (and OTC) banks between the first quarter in 2002 and the third quarter in 2004. Both univariate tests and simultaneous multiple regression analyses were used to examine our conjecture. Empirical findings show that there is a significant negative association between derivative notional amounts and the magnitude of discretionary bad debt expense. Also, this negative correlation is stronger for non-trading (hedge) derivative notional amounts than trading derivative notional amounts. Several additional tests show that our finings are robust. |
| 關鍵字KeyWords | 裁決性壞帳、衍生性金融商品、盈餘平穩化discretionary bad debt expense, derivatives, income smoothing |
| DOI(全文下載Download) | 10.6675/JCA.2009.10.1.01 |
| 相關文章Related Articles | 處分投資、盈餘平穩化與市場評價(Investment Sales, Income-Smoothing and Market Reward) 家族企業、盈餘平穩化與權益資金成本之相關性(The Relationship between Family Firms, Income Smoothing and Cost of Equity Capital) |