財務報表是企業對外最重要的資訊之一，市場環境動盪會影響企業風險的評估與其財務報表數字的衡量。資產減損意在反映其真實價值之改變，其動機也可能為盈餘操弄。本文以2013年至2019年台灣上市上櫃公司為樣本，探討企業是否會利用資產減損操弄損益，進行盈餘管理。文中將資產減損按性質分成固定資產減損、無形資產與商譽減損、金融資產減損、其他資產減損四類進行深入討論；盈餘管理目的則定義為洗大澡、盈餘平穩化，或是利用資產減損來執行裁決性應計項之調控。實證結果發現企業確實會以資產減損方式執行洗大澡及進行裁決性應計項目管理，本文進一步確認各種類資產會因為性質不同，其減損對於盈餘管理之關聯性也會有所差異。另外，敏感性分析亦證實本文之結果具有穩健性。

Financial statements are the most important external information of companies for the public. The volatility of market environment will affect the assessment of corporate risks and the measurement of financial statements. The impairment of assets is not only to reflect the change of the assets’ economic value, but also to the earnings manipulation. This study uses the listed companies in Taiwan from 2013 to 2019 as a sample to investigate whether companies will use asset impairment to manipulate income. Additionally, we divide asset impairment into four categories including fixed assets, intangible assets and goodwill, financial asset and other assets by their nature. This study finds that companies use the four types of asset impairment for purpose of taking a big bath, or use them to implement accrual earnings management. Several sensitivity analyses also show the robustness of main results.

第一章 緒論 1
第二章 文獻回顧 7
第三章 假說發展與研究設計 21
第四章 實證結果與分析 33
第五章 結論與建議 67
參考文獻 69

王春峰與李吉棟（2003），IPO企業盈餘管理的實證檢驗，天津大學學報（社會科學版），2003(10)，324-328。
王春娥與楊清溪（2007），各種盈餘管理模型預測能力比較研究－以我國上市公司電子產業為例，文大商管學報，第12卷第2期，65-94。
江淑玲與林麗容（2007），我國中小企業盈餘管理行為之探索性研究－德爾菲法之應用，東吳經紀商學學報，第57期，79-109。
李婉瑜（2016），企業會在盈餘管理時同規避稅負嗎，國立東華大學會計與財務碩士學位學程未出版碩士論文。
林宜勉、王韶濱及陳世良（民93），會計方法選擇與盈餘管理:以折舊方法為例，會計與公司治理，第一卷第一期，73-94。
洪晉憲（2019），中國大陸上市公司避稅行為與盈餘管理之關聯性，國立東華大學會技與財務碩士學位學程未出版碩士論文。
高蘭芬與莊淑媛（2016），頻繁變動資產減損認列對盈餘品質之影響：論公司治理的角色，中山管理評論，第24卷第2期，357-382。
高蘭芬與陳瑀君（2017），商譽減損之決定因素與市場反應，中山管理評論，第25卷第4期，935-965。
張文瀞（2003），本益比變動與盈餘管理，當代會計，第4卷第1期，35-68。
陳樹（2002），我國企業盈餘操縱問題之誘因、影響與因應對策，當代會計，第三卷第二期，231-242。
曾小青、李貴富、王全三與黃秋冬（2011），盈餘管理動機與資產減損會計：中國證據，台大管理論叢，第22卷第1期，1-30。
游俊生（2019），中國大陸上市公司資產減損對財務報表審計公費與內部控制審計公費之影響，國立東華大學會技與財務碩士學位學程未出版碩士論文。
黃朝信與林孝倫（2017），會計準則禁止資產減損之迴轉與盈餘管理：中國實證，中華會計學刊，第13卷第1期，83-127。
楊朝旭與吳幸蓁（2003），總經理薪酬績效敏感性、績效門檻與盈餘管理關聯性之研究，會計評論，第36期，55-87。
楊朝旭、蔡柳卿、陳家慧與廖思婷（2012），董事會特性與實質盈餘管理，台大管理論叢，第23卷第1期，363-400。
薛敏正與林嬋娟（2004），盈餘管理偵測模式比較研究：以國內財務困難公司為例，中華會計學刊，第5卷第1期，105-130
謝宛庭與吳清在（2005），認列資產減損時點與金額之決定因素及其市場反應，中華會計學刊，第6卷第一期，59-95。
羅進輝、萬迪昉與李超（2010），資產減值準備淨計提-盈餘管理與公司治理結構，中國會計評論，第8卷第2期，179-199。
Aljifri, K., and K., Hussainey, 2007, “The determinants of forward-looking information in annual reports of UAE companies,” Managerial Auditing Journal, 22(9): 881-894.
Amir, E., and Livnat , J., 1996, “Multiperiod analysis of adoption motives: The case of SFAS No. 106,” The Accounting Review, 71(4): 539-553.
Barth, M., and G. Clinch. 1998, “Revalued financial, tangible, and intangible assets: Associations with shares and non-market-based value estimates,” Journal of Accounting Research, 36(3): 199-233.
Bartov, E., Givoly, D. and C. Hayn, 2002, “The rewards to meeting or beating earnings expectations,” Journal of Accounting and Economics, 33(2): 173-204..
Beatty, A. and Weber, J., 2006, “Accounting discretion in fair value estimates: An examination of SFAS 142 goodwill impairments,” Journal of Accounting Research, 44(2): 257–288.
Burgstahler, D., and I. Dichev, 1997, “Earnings management to avoid earnings decreases and losses,” Journal of Accounting and Economics, 24(1): 99-126.
Cahan, S. F. 1992, “The effect of antitrust investigations on discretionary accruals: A refined test of the political-cost hypothesis.” The Accounting Review, 67(1): 77-95.
Chao, C. L., 2006, “An examination of SFAS No. 35: Adoption timing motives, write-off characteristics, and market reaction,” International Journal of Accounting Studies, Special Issue 77-120.
DeAngelo, L., 1986, “Management buyouts of public stockholders,” The Accounting Review, 61(3): 400-420.
Dechow, P. M., R. Sloan, and A. Sweeny. 1995, “Detecting earnings management,”　The Accounting Review, 70(2): 193-225.
DeFond, M. L. and J. Jiambalvo, 1994, “Debt covenant violation and manipulation of accruals.” Journal of Accounting and Economics, 17(1): 145-76.
Duh, R. R., Lee, W. C., & Lin, C. C., 2009, “Reversing an impairment loss and earnings management: The role of corporate governance,” The International Journal of Accounting, 44 (2): 113-137.
Easton, P., P. Eddey, and T. Harris., 1993, “An investigation of revaluations of tangible long-lived assets,” Journal of Accounting Research, 31(3): 1-38.
Easton, P., and P. Eddey., 1997, “The relevance of asset revaluations over an economic cycle,” Australian Accounting Review, 7(13): 22-30.
Elliott, J., and W. Shaw., 1988, “Write-offs as accounting procedures to manage perceptions,” Journal of Accounting Research, 26(3): 91-119.
Francis, J., Hanna J., D., and Vincent, L., 1996, “Cause and effects of discretionary assets write-offs,” Journal of Accounting Research, 34(3): 117-134.
Graham, J. R., Harvey, C., and S. Rajgopal, 2005, “The economic implications of corporate financial reporting,” Journal of Accounting and Economics, 40(1-3), 3-73.
Green, D. Jr., and Sorter, G. H., 1959, “Accounting for obsolescence－A proposal,” The Accounting Review. 34(3): 433-441.
Guay, W. R. Kothari, S. P. and Watts, R. L., 1996, “A market-based evaluation of discretionary accrual models,” Journal of Accounting Research. 34(3): 83-105.
Guidry, F., A. J. Leone, and S. Rock, 1999, “Earnings-based bonus plans and earnings management by business-unit managers.” Journal of Accounting and Economics, 26(1): 113-42.
Gupta, S. and K. Newberry, 1997, “Determinants of the variability in corporate effective tax rates: Evidence from longitudinal data,” Journal of Accounting and Economics, 16(1): 1-34.
Hayn, C., & Hughes, P. J., 2006, “Leading indicators of goodwill impairment,” Journal of Accounting, Auditing and Finance, 21(3): 223-265.
Healy, P. M., 1985, “The effect of bonus schemes on accounting decisions,” Journal of Accounting and Economics, 7(1/2/3): 85-107.
Healy, P. M. and K. G. Palepu, 1990, “The effective of accounting-based dividend covenants,” Journal of Accounting and Economics, 12(1-3): 97-123.
Healy, P. M., and Wahlen, J. M., 1999, “A review of the earnings management literature and its implications for standard setting,” Accounting Horizons, 13(4): 365-383.
Heflin, F., and T. Warfield., 1997, “Managerial discretion in accounting for asset write-offs,” Working paper, University of Wisconsin-Madison.
Hogan, C., and D. Jeter., 1998, “The information content of restructuring charges: A contextual analysis,” Working paper, Vanderbilt University.
Holthausen, R., D. F. Larcker, and R. G. Sloan, 1995, “Annual bonus schemes and the manipulation of earnings.” Journal of Accounting and Economics, 19(1): 29-74.
Jones, T. M., 1991, “Ethical decision making by individuals in organizations: An issue-contingent model,” Academy of Management Review, 16(2): 366-395.
Jordan, C. E. and Clark, S. J., 2004, “Big bath earnings management: The case of goodwill impairment under SFAS No. 142,” Journal of Applied Business Research, 20(2): 63-70.
Kothari, S. P., A. Leone and C. Wasley, 2005, “Performance matched discretionary accrual measures,” Journal of Accounting and Economics, 39(1): 163-197.
Long, Y., 2005, “Essays on SFAS 142: Adoption timing motives, market reaction and relation between impairment and overpayment in acquisitions”, Working Paper, Stanford University.
Matsunaga, S., and C. Park, 2001, “The effect of missing a quarterly earnings benchmark on the CEO’s annual bonus,” The Accounting Review, 76(3): 313-332.
Massoud, M. F., & Raiborn, C. A. 2003, “Accounting for goodwill: Are we better off ,” Review of Business, 24(2): 26-33.
Palepu,K. G., P.M. Healy, andV. L. Bernard, 2004, “Business Analysis & Valuation: Using Financial Statements,” 3rd Edition, South-Western.
Penman, S. H., and X. J. Zhang. 2002, “Accounting conservatism, the quality of earnings, and stock returns,” The Accounting Review, 77(2): 237-264.
Ramanna, K., 2008, “The implications of unverifiable fair-value accounting: evidence from the political economy of goodwill accounting,” Journal of Accounting and Economics, 45(2-3): 253-281.
Ramanna, K. and Watts, R. L., 2012, “Evidence on the use of unverifiable estimates in required goodwill impairment,” Review of Accounting Studies, 17(4): 749-780.
Rees, L., S. Gill, and R. Gore., 1996, “An investigation of asset write-downs and concurrent abnormal accruals,” Journal of Accounting Research, 34(3): 157-169.
Riedl, E. J, 2004, “An examination of long-lived asset impairments,” The Accounting Review, 79(3): 823-852.
Roychowdhury, S., 2006, “Earnings management through real activities manipulation,” Journal of Accounting and Economics, 42(3): 335-370.
Schipper, K., 1989, “Commemtary on earnings management,” Accounting Horizins 3(1): 91-102.
Scott, J. T., 2005, “Corporate social responsibility and environmental research and development,” Structural Change and Economic Dynamics,16(3): 313-331.
Stolowy H., Breton G., 2004, “Accounts manipulation: A literature review and proposed conceptual framework,” Review of Accounting and Finance, 3(1): 5-66.
Strong J. S., and J. R. Meyer, 1987, “Write-downs: managerial incentives and security returns,” Journal of Finance, 43(3): 643-661.
Subramanyam, K. R., 1996, “The pricing of discretionary accruals,” Journal of Accounting and Economics, 22((1-3): 249-281.
Sweeney, A. P., 1994, “Debt-covenant violations and managers’ accounting responses.” Journal of Accounting and Economics, 17(3): 281-308.
Teoh, Siew Hong, T. J. Wong, and Gita R. Rao, 1998, “Are accruals during initial public offerings opportunistic,” Review of Accounting Studies, 3: 175-208.
Watts, R. L. and J. L. Zimmerman, 1978, “Towards a positive theory of the determination of accounting standards.” The Accounting Review, 53(1): 112-34.
Watts, R. L. and J. L. Zimmerman, 1986, “Positive accounting theory,” New Jersey Prentice-Hall.
Zucca, L. and Campbell, D., 1992, “A closer look at discretionary writedowns of impaired assets,” Accounting Horizons, 6(3): 30-41.