當企業會計處理較穩健時，將使企業的資產與盈餘較不易浮濫，而對投資人與債權人提供較高的保護。本研究探討當企業持續採用穩健的會計處理時，增加投資水準時將降低當期報導的盈餘，並創造隱藏性準備，提供管理者於未來報導較高盈餘的彈性。管理者可以運用投資來增加準備同時間降低盈餘，亦可透過減少投資來釋放準備並提高盈餘，當投資的改變係屬暫時，則盈餘的改變也是暫時的，而影響盈餘的持續性。故當企業不改變會計方法而持續採用穩健原則時，亦可透過穩健原則與投資的交互作用來改變盈餘的品質。
　　本研究藉由一般公認會計原則下的會計所得相較於稅法規定下的課稅所得，有較高的保守程度及更多的裁量空間之性質，以淨遞延所得稅資產(NDTA)代理企業會計處理的保守程度，試圖觀察企業受穩健影響的程度是否會影響盈餘的持續性，並探討受穩健影響的程度與未來盈餘、未來股價報酬之關聯性。
　　本研究之實證結果說明如下：
1. 企業受穩健程度影響愈高時，將會損害盈餘的持續性，淨遞延所得稅資產較高的企業，與淨遞延所得稅資產較低的企業相較，其盈餘持續性較低。
2. 企業穩健程度與未來盈餘間呈正向關聯，實證結果顯示本期△NDTA愈大時，次期總資產報酬率(ROA)愈高，兩者呈正向關係。
3. 企業穩健程度與未來股價報酬間呈負向關聯，實證結果顯示，本期△NDTA愈大時，次期股價報酬(R)愈低，兩者呈負向關係，代表市場能發現穩健原則對盈餘品質所造成之影響。

This paper investigates that if firms adapt conservative accounting consistently, when the firm increases investment, conservative accounting leads to lower reported earnings. These lower earnings, however, create unrecorded reserves that provide managers with flexibility to report more income in the future. Management can increase these reserves, and so reduce earnings, by increasing investment. Management can also release the reserves and create additional earnings, by subsequently reducing the investment or the rate of growth in investment. When the change in investment is temporary, the induced change in earnings is also temporary, and the change in investment could reduce earning persistence. Quality concerns can also arise if firms apply conservative accounting consistently without any change in accounting methods or estimates. Comparing with taxable income, accounting income is more conservative and discretionary. Thus, this paper uses Net Deferred Tax Assets to proxy the level of conservatism of the firm. We try to observe whether conservatism reduce earning persistence and examine the relationship between conservatism and future earnings, future return.
The empirical results are summarized below:
1. When the firm practices conservative accounting, it will reduce the persistence of earnings.
2. The level of conservatism has the same direction with future earnings.
3. The level of conservatism has opposite direction with future return.

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