本研究以2006年至2021年中國大陸上市公司為研究對象，蒐集了相關的財務指標、資訊揭露文件和監察機構的資料，旨在探討中國大陸學術獨立董事對企業舞弊的影響，並進一步檢驗公司資訊透明度在這一關係中的中介效應。研究結果顯示，當董事會中有學術獨立董事的存在，可以顯著減少企業的舞弊行為，且對上市公司的資訊揭露程度也有正面的影響。此外，也表明公司資訊透明度在學術獨立董事與企業舞弊之間確實存在中介效應。本研究的理論和實務意義在於提供有關如何改進公司治理和防範企業舞弊的建議。透過分析中國大陸上市公司的情況，本研究將為政策制定者、投資者和學術界提供有價值的參考。以加強中國大陸企業的透明度、提升公司治理水準並減少企業舞弊的風險。

This paper collects relevant financial indicators, information disclosure documents, and data from regulatory authorities for Chinese listed companies from 2006 to 2021. The study aims to investigate the impact of academic independent directors on corporate fraud in China and further examine the mediating effect of listed company transparency in this relationship. The results of the study show that the presence of academic independent directors on the board of directors have significantly reduced corporate fraud and has a positive effect on the level of information disclosure of listed companies. In addition, corporate information transparency has a mediating effect between academic independent directors and corporate fraud does have a mediating effect. The theoretical and practical significance of this study is to provide suggestions on how to improve corporate governance and prevent corporate fraud. By analyzing the situation of listed companies in China, this study will provide valuable references for policy makers, investors, and academics. In order to enhance the transparency, improve the corporate governance, and reduce the risk of corporate fraud in China.

誌謝 i
摘要 ii
Abstract iii
圖次 v
表次 vi
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 3
第三節 研究架構 4
第二章 文獻回顧與假說建立 5
第一節 學術獨立董事與企業舞弊 5
第二節 公司資訊透明度之中介效應 8
第三章 研究方法 11
第一節 樣本選取與資料來源 11
第二節 變數說明 11
第三節 資料分析方法與實證模型 15
第四章 實證結果與分析 21
第一節 敘述性統計分析 21
第二節 相關性分析 23
第三節 迴歸結果分析 25
第五章 穩健性測試 29
第一節 重新界定樣本期間 29
第二節 增加控制變數―是否為國有企業 (SOE) 35
第六章 結論與建議 39
第一節 研究結論 39
第二節 研究限制與後續研究 40
參考文獻 41
附錄A 變數定義表 46

余柔柔（2022）。投資無效率與財報舞弊關係探討——以中國大陸上市公司為例。輔仁大學未出版論文。 https://hdl.handle.net/11296/9xc8jb
周澤將、馬靜與胡劉芬（2019）。經濟獨立性能否促進監事會治理功能發揮——基於企業違規視角的經驗證據。南開管理評論(06).。
林冠鋐（2021）。學術獨立董事與企業社會責任報告書確信機構的選擇。國立臺北商業大學未出版論文。 https://hdl.handle.net/11296/r326e4
邱垂昌與莊清騄（2010）獨立董監事、公司資訊透明度與公司價值之關聯性[Association among Independent Directors (Supervisors), Corporate Information Transparency and Firm Value]. 中山管理評論, 18(4), 949-1008. https://doi.org/10.6160/2010.12.02
許慈庭（2016）。集團企業法人代表董監事與企業舞弊間之關聯性。國立雲林科技大學未出版論文。 https://hdl.handle.net/11296/496794
連玉君（2021）Stata+R:一文讀懂中介效應分析。Retrieved 7/7 from https://zhuanlan.zhihu.com/p/99435552
陳冬華、胡曉莉、梁上坤與新夫（2013）。宗教傳統與公司治理。經濟研究, 48(09), 71-84.
陳雪如、林琦珍與柯佳玲（2009）。自願性資訊揭露對財務報導舞弊偵測之研究[An Empirical Study of the Voluntary Information Disclosure on the Fraudulent Financial Reporting Detection]. 會計與公司治理, 6(2), 1-29. https://doi.org/10.30139/jacg.200912.0001
陸瑤與胡江燕（2016）。CEO與董事間“老鄉”關係對公司違規行為的影響研究。南開管理評論(02)。
葉銀華（2002）。電子金融表現突出 台積電華信業界翹楚 從台灣上市公司網站資訊揭露看透明度。會計研究月刊(200), 70-77. https://doi.org/10.6650/arm.2002.200.70
謝妤珣（2022）。新進壽險業務人員之職場關係品質與其工作績效的影響—以自我效能為中介變數。國立臺灣大學未出版論文。 https://hdl.handle.net/11296/e6jt34
鍾宇軒與黃姿菁（2023）。術業有專攻：學術獨立董事於功能性委員會之監督效果。當代會計, 24(1), 153-214. https://doi.org/10.6675/jca.202305_24(1).07
魏妤珊、廖俊煌與黃法蓉（2016）。董事身分特性與企業風險管理對企業避稅之影響[The effects of board member characteristics identity & enterprise risk management on corporate tax aggressiveness]. 商管科技季刊, 17(2), 141-183.
Anderson, K. L., Deli, D. N., & Gillan, S. L. (2003). Boards of Directors, Audit Committees, and the Information Content of Earnings. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.444241
Armstrong, C. S., Core, J. E., & Guay, W. R. (2014). Do independent directors cause improvements in firm transparency? Journal of Financial Economics, 113(3), 383-403. https://doi.org/10.1016/j.jfineco.2014.05.009
Audretsch, D. B., & Lehmann, E. (2006). Entrepreneurial Access and Absorption of Knowledge Spillovers: Strategic Board and Managerial Composition for Competitive Advantage. Journal of Small Business Management, 44(2), 155-166. https://doi.org/10.1111/j.1540-627X.2006.00161.x
Baron, R. M., & Kenny, D. A. (1986). The moderator-mediator variable distinction in social psychological research: conceptual, strategic, and statistical considerations. J Pers Soc Psychol, 51(6), 1173-1182. https://doi.org/10.1037//0022-3514.51.6.1173
Beasley, M. S. (1996). An Empirical Analysis of the Relation between the Board of Director Composition and Financial Statement Fraud. The Accounting Review, 71(4), 443-465. http://www.jstor.org/stable/248566
Becker, C. L., Defond, M. L., Jiambalvo, J., & Subramanyam, K. R. (1998). The Effect of Audit Quality on Earnings Management. Contemporary Accounting Research, 15(1), 1-24. https://doi.org/10.1111/j.1911-3846.1998.tb00547.x
Byrd, J. W., & Hickman, K. A. (1992). Do outside directors monitor managers?: Evidence from tender offer bids. Journal of Financial Economics, 32(2), 195-221. https://doi.org/https://doi.org/10.1016/0304-405X(92)90018-S
Cao, S. P., Wu, J., Wang, C. F., Fang, Z. M., & Cui, X. (2023). Academic Independent Director Abnormal Resignations and R&D Investment: Evidence from China [Article]. Emerging Markets Finance and Trade, 59(1), 238-264. https://doi.org/10.1080/1540496x.2022.2089016
Chen, C. J. P., & Jaggi, B. (2000). Association between independent non-executive directors, family control and financial disclosures in Hong Kong. Journal of Accounting and Public Policy, 19(4-5), 285-310. https://EconPapers.repec.org/RePEc:eee:jappol:v:19:y:2000:i:4-5:p:285-310
Chen, G., Firth, M., Gao, D. N., & Rui, O. M. (2006). Ownership structure, corporate governance, and fraud: Evidence from China. Journal of Corporate Finance, 12(3), 424-448. https://doi.org/10.1016/j.jcorpfin.2005.09.002
Chen, J., Garel, A., & Tourani-Rad, A. (2019). The value of academics: Evidence from academic independent director resignations in China [Article]. Journal of Corporate Finance, 58, 393-414. https://doi.org/10.1016/j.jcorpfin.2019.06.003
Cheng, E. C. M., & Courtenay, S. M. (2006). Board composition, regulatory regime and voluntary disclosure. The International Journal of Accounting, 41(3), 262-289. https://doi.org/10.1016/j.intacc.2006.07.001
Chiang, H.-T., & He, L.-J. (2010). Board Supervision Capability and Information Transparency. Corporate Governance: An International Review, 18(1), 18-31. https://doi.org/10.1111/j.1467-8683.2009.00779.x
Cho, C. H., Jung, J. H., Kwak, B., Lee, J., & Yoo, C.-Y. (2017). Professors on the Board: Do They Contribute to Society Outside the Classroom? Journal of Business Ethics, 141(2), 393-409. https://doi.org/10.1007/s10551-015-2718-x
Dai, J. W., Lu, C., & Qi, J. P. (2019). Corporate Social Responsibility Disclosure and Stock Price Crash Risk: Evidence from China [Article]. Sustainability, 11(2), 20, Article 448. https://doi.org/10.3390/su11020448
Demb, A., & Neubauer, F. F. (1992). The corporate board: Confronting the paradoxes. Long Range Planning, 25(3), 9-20. https://doi.org/https://doi.org/10.1016/0024-6301(92)90364-8
Faleye, O., Hoitash, R., & Hoitash, U. (2011). The costs of intense board monitoring. Journal of Financial Economics, 101(1), 160-181. https://doi.org/10.1016/j.jfineco.2011.02.010
Fama, E. F., & Jensen, M. C. (1983). Separation of Ownership and Control. The Journal of Law & Economics, 26(2), 301-325. http://www.jstor.org/stable/725104
Fan, H., Song, X., & Zhou, L. (2019). Executive-Employee Pay Gap and Academic Directors - A Chinese Study. SSRN. https://books.google.com.tw/books?id=LiYCzwEACAAJ
Firth, M., & Liau-Tan, C. K. (1998). Auditor Quality, Signalling, and the Valuation of Initial Public Offerings. Journal of Business Finance & Accounting, 25(1-2), 145-165. https://doi.org/https://doi.org/10.1111/1468-5957.00181
Forker, J. J. (1992). Corporate Governance and Disclosure Quality. Accounting and Business Research, 22(86), 111-124. https://doi.org/10.1080/00014788.1992.9729426
Francis, B., Hasan, I., & Wu, Q. (2015). Professors in the Boardroom and Their Impact on Corporate Governance and Firm Performance. Financial Management, 44(3), 547-581. https://doi.org/10.1111/fima.12069
Huang, H.-Y., Lee, C.-H., & Liao, C.-H. (2021). The Value of Academic Directors to Stakeholders: Evidence on Corporate Social Responsibility Reporting. Journal of International Accounting Research, 20(1), 79-102. https://doi.org/10.2308/jiar-2020-037
Jaggi, B., Leung, S., & Gul, F. (2009). Family control, board independence and earnings management: Evidence based on Hong Kong firms. Journal of Accounting and Public Policy, 28(4), 281-300. https://doi.org/10.1016/j.jaccpubpol.2009.06.002
Jensen, M. C. (1993). The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems. The Journal of Finance, 48(3), 831-880. https://doi.org/10.1111/j.1540-6261.1993.tb04022.x
Jiang, B., & Murphy, P. J. (2007). Do Business School Professors Make Good Executive Managers? Academy of Management Perspectives, 21(3), 29-50. http://www.jstor.org/stable/27747390
Johnson, W. C., Xie, W., & Yi, S. (2014). Corporate fraud and the value of reputations in the product market. Journal of Corporate Finance, 25, 16-39. https://doi.org/10.1016/j.jcorpfin.2013.10.005
Kim, J., Roden, D., & Cox, S. (2013). The Composition and Compensation of the Board of Directors as Predictors of Corporate Fraud. Accounting and Finance Research, 2. https://doi.org/10.5430/afr.v2n3p142
Kuang, Y. F., & Lee, G. (2017). Corporate fraud and external social connectedness of independent directors. Journal of Corporate Finance, 45, 401-427. https://doi.org/10.1016/j.jcorpfin.2017.05.014
Kula, V. (2005). The Impact of the Roles, Structure and Process of Boards on Firm Performance: evidence from Turkey. Corporate Governance: An International Review, 13(2), 265-276. https://doi.org/10.1111/j.1467-8683.2005.00421.x
Li, M., Makaew, T., & Winton, A. (2020). Cheating in China: Corporate Fraud and the Role of Financial Markets. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3757949
Liu, Y., Miletkov, M. K., Wei, Z., & Yang, T. (2015). Board independence and firm performance in China. Journal of Corporate Finance, 30, 223-244. https://doi.org/10.1016/j.jcorpfin.2014.12.004
Luo, J.-h., Peng, C., & Zhang, X. (2020). The impact of CFO gender on corporate fraud: Evidence from China. Pacific-Basin Finance Journal, 63, 101404. https://doi.org/10.1016/j.pacfin.2020.101404
Ma, V. C., & Liu, J. S. (2015). Taiwan as a Regional Laboratory for Corporate Governance Revisiting the Independent Director System and Other Instruments, 2008-2012 [Article]. Asian Survey, 55(4), 793-821. https://doi.org/10.1525/as.2015.55.4.793
Pang, J. R., Zhang, X. Y., & Zhou, X. (2020). From classroom to boardroom: The value of academic independent directors in China [Article]. Pacific-Basin Finance Journal, 62, 20, Article 101319. https://doi.org/10.1016/j.pacfin.2020.101319
Patelli, L., & Prencipe, A. (2007). The Relationship between Voluntary Disclosure and Independent Directors in the Presence of a Dominant Shareholder. European Accounting Review, 16(1), 5-33. https://doi.org/10.1080/09638180701265820
Sharma, V. (2004). Board of Director Characteristics, Institutional Ownership, and Fraud: Evidence from Australia. Auditing-a Journal of Practice & Theory - AUDITING-J PRACT THEOR, 23, 105-117. https://doi.org/10.2308/aud.2004.23.2.105
White, J. T., Woidtke, T., Black, H. A., & Schweitzer, R. L. (2014). Appointments of academic directors. Journal of Corporate Finance, 28, 135-151. https://doi.org/10.1016/j.jcorpfin.2013.12.007
Xiang, R., & Zhu, W. (2020). Academic independent directors and corporate fraud: evidence from China. Asia-Pacific Journal of Accounting & Economics, 30(2), 285-303. https://doi.org/10.1080/16081625.2020.1848594
Xing, J. L., Zhang, Y. J., Xiong, X., & Li, G. Z. (2022). Covering or monitoring? Independent director connectedness and corporate fraud in China [Article]. China Journal of Accounting Research, 15(4), 19, Article 100273. https://doi.org/10.1016/j.cjar.2022.100273
Yermack, D. (1996). Higher market valuation of companies with a small board of directors. Journal of Financial Economics, 40(2), 185-211. https://doi.org/10.1016/0304-405x(95)00844-5
Zhang, J. (2018). Public Governance and Corporate Fraud: Evidence from the Recent Anti-corruption Campaign in China. Journal of Business Ethics, 148(2), 375-396. https://doi.org/10.1007/s10551-016-3025-x