臺灣與日本自日治時期開始就因殖民而有著深厚的淵源，加上地理位置接近，使得當今臺日經濟貿易交流之連結日趨緊密。本研究由資訊外部性及財務報表之蔓延效果出發，使用自行定義之虛擬變數，將於帳上揭露日幣資產或負債之公司定義為日本概念股，以多元迴歸模型進行實證分析，探討日本概念股相較於非日本概念股，其盈餘品質、財報重編機率及小盈餘之出現情形是否因為日本公司之盈餘品質影響而存在顯著差異。本研究之實證結果發現，日本概念股相較非日本概念股，不論是正向或負向操縱盈餘應計數皆較少發生，且財報重編機率較低；同時，由四大會計師事務所查核之日本概念股相較於非四大查核之日本概念股，不論正向或負向操縱盈餘應計數皆較少發生，且小盈餘之變化情形較少出現。另外，本研究亦透過區分出日幣資產及負債之穩健性測試，證實在區分正負向盈餘管理及財報重編機率方面之結果皆屬穩健。
本研究之貢獻有三：第一，研究結果預期將成為資訊外部性是否造成概念股產生不同盈餘品質及不同財務報表重編頻率之研究領域先驅。第二，研究結果可讓市場投資大眾更深入了解日本概念股之盈餘品質，進而協助其於股票市場上作成投資決策。第三，台灣之國際化程度日益加深，此結果對於監管企業財務報導之主管機關而言，其意涵將更顯重要。本研究之管理意涵有二：第一，證券主管機關對日本概念股之財報品質表現可較期待，同時亦須持續注意其他非日本概念股之財報品質是否表現較差。第二，市場投資大眾可對日本概念股之財報給予較多信任，並持續關注及比較日本概念股之股價及盈收表現。

Since the Japanese colonial period, Taiwan and Japan have had a deep connection due to colonialism, and the close geographical location has made the connection between Taiwan and Japan's economic and trade exchanges increasingly close. Based on the Information Externalities and the Contagion Effect of financial statements, this study uses self-defined dummy variables to define companies that disclose Japanese Yen assets or liabilities in their financial statements as Japanese concept stocks (JPCS), so as to discuss whether there are significant differences in discretionary accruals, the probability of restatement and the occurrence of small earning due to the impact of the earnings quality of Japanese firms. With 14,409 firm-year observations during 2012-2021 period in TEJ database, the empirical results found that JPCS have fewer occurrences of positive or negative earnings manipulation compared to non-JPCS, and the probability of restatement is also lower; Additionally, JPCS audited by the BIG4 are less likely to manipulate earnings and fewer changes in small earnings compared to JPCS not audited by the BIG4.
This study can provide market investors with a deeper understanding of the earnings quality of JPCS, and assist them in making investment decisions in the stock market. Furthermore, from a management perspective, this study suggests regulatory authorities that the earnings quality of JPCS is higher than non-JPCS.

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