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研究生： 莊詩涵
Chuang, Shih-Han
論文名稱： 檢測採用IFRS是否會增加評價IPO之準確性
Does IFRS adoption increase accuracy in valuing IPOs?
指導教授： 林軒竹
Lin, Hsuan-Chu
學位類別： 碩士
Master
系所名稱： 管理學院 - 財務金融研究所
Graduate Institute of Finance
論文出版年： 2014
畢業學年度： 103
語文別： 英文
論文頁數： 25
中文關鍵詞： IFRS 、GAAP 、評價 、首次公開發售
外文關鍵詞： IFRS, GAAP, Valuation, Initial Public Offering
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    • 本研究之主要目的為檢測採用IFRS是否會增加評價IPOs之準確性。我們將採用GAAP之美國首次公開發售公司對比採用IFRS之歐盟會員國首次公開發售的公司，樣本期間從2006年至2013年並使用對比公司法來評價IPOs。本研究發現，採用GAAP之樣本預測誤差為72.4%，而採用IFRS之樣本預測誤差為66.72%，可證實採用IFRS會增加評價IPOs之準確性。且本研究更進一步證實，在評價IPOs的過程中若排除不成熟之公開發售公司，有助於提升評價IPOs之準確性。

    In this study we explore accuracy of valuing IPOs under different accounting principles, U.S. GAAP and IFRS. We test two groups, the U.S. public and the E.U. public which adopted GAAP and IFRS respectively. The sample period is from 2006 to 2014. Using comparable firms method when we conducting valuation of IPOs. Overall, the absolute error is 72.4% in U.S. public compare with 66.72% in E.U. public. The results suggest that IFRS adoption works better than GAAP adoption in valuing IPOs. We also find that the valuation of IPOs is more accuracy with excluding young firms.

    摘要......................................................................................................i ABSTRACT............................................................................................ii 誌謝.....................................................................................................iii CONTENTS...........................................................................................iv LIST OF TABLES.....................................................................................v CHAPTER1 INTRODUCTION...................................................................1 CHAPTER2 LITERATURE REVIEW.............................................................4 2.1 The accounting numbers in valuation..............................................4 2.2 Unaccompanied standards and their technical summaries of IFRS....5 2.3 The comparability of accounting amounts resulting from application of IFRS and US GAAP......................................................................7 CHAPTER3 DATA AND METHODOLOGY..................................................9 3.1 Data................................................................................................9 3.2 Methodology..................................................................................11 CHAPTER4 EMPIRICAL RESULTS AND DISCUSSION..................................14 CHAPTER5 SUMMARY AND CONCLUSIONS............................................16 REFERENCE...........................................................................................17

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