本研究主要探討財務報表可比性與企業內部資金配置效率之關係。由於過去文獻顯示會計資訊的品質特性會影響資本市場的資金配置效率。先前的文獻探討財務報告品質提升的經濟後果，尤其是會計資訊對資本有效配置的影響(Biddle and Hilary, 2006; McNichols and Stubben, 2008; Biddle et al., 2009)，大多是研究公司特定會計屬性（例如：應計品質和會計穩健性）的影響。由於可比性增加資訊透明度，強化了市場監督，降低代理問題，進而提高內部資金配置效率。故本研究進一步對於會計資計品質特性可比性對內部資金配置效率之影響進行分析，本研究對於財務報表可比性與企業內部資金配置效置效率關係之間的貢獻，主要不同在幾個方面，首先，本研究專注於在內部資本市場方面的投資效率，而過去的文獻研究重點是公司所採取的投資決策存在有投資不足或是過度投資的現象。其次，本研究以可比性為增加透明度的代理變數，透過揭露整個財務報表，從而增加投資者的意識，故比應計品質更具全面性。

本研究以1981至2013年，美國資本市場的上市公司為研究對象，探討財務報表可比性與企業內部資金配置效率之關係，以迴歸分析方法進行實證。

實證結果顯示，相較於財務報表可比性低的公司，財務報表可比性較高的公司，企業內部資金配置效率較高。

This study focused on the relationship between the comparability of financial statements and internal capital allocation efficiency. Prior literature shows that the quality characteristics of accounting information affects capital allocation efficiency in the internal capital markets. Therefore, this study examines whether further comparability affects the allocation of internal funds to using public companies in the US from 1981 to 2013, the empirical results show the comparability of financial statements helps enhance internal capital allocation efficiency of diversified firms.

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國際會計準則公報，2013，財務報表之表達（第一號），財團法人中華民國會計研究發展基金會。

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