本研究針對財務會計準則公報第24號「每股盈餘」之修改，探討修改後之公報是否會對未來盈餘預測能力有所影響。再者，本文參考Balsam and Lipka (1998) 之作法，探討基本每股盈餘以及稀釋每股盈餘的相對有用性，以及雙重表達的增額有用性。最後本研究以每股盈餘稀釋效果假說，探討稀釋性調整數是否與股票報酬有正向關係。
本文實證結果發現：(1)財務會計準則第24號公報修改前後，其對未來盈餘預測能力有顯著差異，且為正值，表示不但使繁雜的會計處理簡化，也更有預測未來盈餘的能力。(2)在研究基本每股盈餘和稀釋每股盈餘對股價的預測能力時，兩者皆具有關聯性，但基本每股盈餘對股價的解釋能力優於稀釋每股盈餘。(3)以雙重表達每股盈餘會比單獨表達每股盈餘，提高對股價的解釋能力。(4)稀釋性調整數與股票報酬有正向關係，表示在稀釋性調整數的研究中，每一年公司的稀釋性調整數的改變與當期的股票報酬率有正向關係。

This study examines the modifications of the Taiwan’s SFAS No. 24, Earnings Per Share , and to realize whether it will effect the ability of forecasting future earnings. Moreover, this study employs Balsam and Lipka (1998) to examines the relative usefulness of basic and diluted earnings per share , and the incremental usefulness of dual expressing . Finally, I also test whether diluted adjustment (△DILADJ) and return of stock have positive relation.

Empirical results indicate that (1) The ability to forecast future earnings has a significant difference since Taiwan’s SFAS No. 24 been revised. Such result express it simplify the complicated accounting process, and has the better abilities to forecast future earnings. (2) We find that there is no difference in the ability to forecast future share price between basic and diluted earnings per share. But the ability of explain of the basic earnings per share is better than diluted earnings per share. (3) The ability of explain future stock price of dual express is preferred to single express. (4) △DILADJ has a positive relation of stock return.

ㄧ、中文文獻
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