台灣從 2019 年 1 月 1 號開始採用國際財務報導準則第 16 號(簡稱 IFRS16)，改採單一會計模式後將導致許多分類為營業租賃之應付租賃款轉列為租賃負債。
本研究以 2018 年台灣上市櫃的公司為樣本，探討投資人如何評價由原本營業租賃轉列融資租賃之租賃負債。本研究以 Ohlson(1995)評價模型為基礎，實證由營業租賃轉列為融資租賃之租賃負債是否具有價值攸關性，以及檢驗此租賃負債是否與一般付息負債相同，其實證結果為，採用 IFRS16 後，財務報表更具有價值攸關性，且由營業租賃轉列為融資租賃之租賃負債與一般公司付息負債有顯著差異。

Taiwan has adopted International Financial Reporting Standard 16 (IFRS 16) since January 1, 2019, and the change to a single accounting model will result in many lease payments that are classified as finance lease obligations. This study uses Taiwan-listed companies in 2018 as a sample to explore how investors evaluate lease liabilities transferred from operating leases to financial leases. Based on Ohlson's (1995) evaluation model, this study empirically examines whether the lease liability converted from an operating lease to a finance lease is value relevant, and tests whether the lease liability is the same as general interest-bearing liability. After IFRS16, financial statements are more valuable, and the finance lease obligations transferred from operating leases to finance leases are significantly different from general corporate interest-bearing liabilities.

摘要 I
Abstract II
第壹章 緒論 1
第一節 研究動機與目的 1
第二節 研究流程 2
第貳章 租賃會計處理的沿革 5
第一節 租賃會計準則 5
第二節 IAS17與IFRS16比較 8
第參章 文獻回顧與研究假說 13
第一節 租賃資本化 13
第二節 價值攸關 14
第三節 租賃和債務 16
第肆章 研究方法 19
第一節 研究樣本 19
第二節 研究模型 21
第伍章 實證結果 25
第一節 敘述性統計 25
第二節 相關係數分析 27
第三節 模型之實證結果 30
第四節 額外測試 36
第陸章 結論與建議 41
參考文獻 42

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