過去文獻對損益平穩化之研究多著重於裁決性應計項目之操縱，僅少數文獻針對特定會計科目或針對特定產業進行探討。過去文獻也指出遞延所得稅資產備抵評價(簡稱DTA備抵評價)能夠傳遞資訊內涵給投資人，管理當局也能夠透過備抵評價所擁有的會計裁量權進行盈餘管理。因此本文以一般性產業之DTA備抵評價作為盈餘管理工具，檢視其是否具有預期損益平穩化、當期損益平穩化及訊息傳遞等效果，並進一步實證其損益平穩化及訊息傳遞效果是否共同存在（co-existing），可分別傳達不同的訊息給市場投資人。
本文參考Defond and Park（1997）、Kanagaretnam et al.（2003、2004）及Frank and Rego（2006）之實證模式，在工作安全動機、風險動機及資訊不對稱動機下，探討DTA備抵評價是否具有預期損益平穩化、當期損益平穩化及訊息傳遞效果。實證結果發現：(1)在工作安全動機下， DTA備抵評價並不具預期損益平穩化效果，但若進一步將DTA備抵評價分為裁決性及非裁決性，則發現裁決性部分具有預期損益平穩化效果。(2) 在風險動機下，有當期損益平穩化動機存在之公司，其DTA備抵評價具有當期損益平穩化效果；無當期損益平穩化動機存在之公司，其DTA備抵評價不具當期損益平穩化效果。(3)在資訊不對稱動機下，當公司價值低估時， DTA備抵評價具有訊息傳遞效果；當公司價值高估或公平表達時，DTA備抵評價不具訊息傳遞效果。(4)進行「當期損益平穩化」及「訊息傳遞」動機聯合檢定時，同時存在「當期損益平穩化」且「訊息傳遞」動機、存在「訊息傳遞」但不存在「當期損益平穩化」動機及同時不存在「當期損益平穩化」且「訊息傳遞」動機之三種情形實證結果大致與Kanagaretnam et al.（2004）相符，存在「當期損益平穩化」但不存在「訊息傳遞」因受會計科目本身性質及會計準則公報對操縱工具規範程度不同導致實證結果與Kanagaretnam et al.（2004）不一致。

Prior research has sought to detect earnings management by using accrual measures as proxies for managerial discretion. A few research seeks has sought to detect earning management by using special account or using homogeneous samples. Prior research also indicates that disclosures of valuation allowance changes can convey information to investors. Managers can also use the discretion available in setting valuation allowance to manage reported earnings. In this paper we use valueation allowance of DTA as proxies for managerial discretion and broad samples to examine whether valuation allowance of DTA can be use to anticipatory income smoothing、current income smoothing and signaling. We find evidence whether income smoothing and signaling are co-existing and convey different information to investors.
We use Defond and Park（1997）、Kanagaretnam et al.（2003、2004）、Frank and Rego（2006）empirical model. Based on job-security、risk and information-asymmetry incentives, we examine whether valuation allowance of DTA can be use to anticipatory income smoothing、current income smoothing and signaling. Our empirical results indicate that：（1）under job-security incentive, valueation allowance of DTA can not be use to anticipatory income smoothing, but we separate valueation allowance of DTA into discretionary and nondiscretionary. We can find discretionary valueation allowance of DTA can be use to anticipatory income smoothing. （2）under risk incentive, company with current income smoothing incentive, valueation allowance of DTA can not be use to anticipatory income smoothing. Company without current income smoothing incentive, valueation allowance of DTA can not be use to anticipatory income smoothing. （3）under information-asymmetry incentive, when company is undervalued, valueation allowance of DTA can be use to signaling. When company is overvalued, valueation allowance of DTA can not be use to signaling. （4）we joint test「current income smoothing」 and 「signaling」, with「current income smoothing」 and 「signaling」incentives, only with 「signaling」incentive, without 「current income smoothing」 and 「signaling」incentives. In these samples our empirical results are identical with Kanagaretnam et al.（2004）. But in only with 「current income smoothing」 incentives samples, our empirical results are not identical with Kanagaretnam et al.（2004）. Because loan loss provision and valueation allowance of DTA are different in nature and discretionary of loan loss provision and valueation allowance of DTA are different within GAAP.

一、中文文獻
李孟萍，2002，我國銀行業盈餘管理及訊息效果之檢定，國立中山大學財務管理 研究所碩士論文。
吳清在、林松宏，2003，遞延所得稅資產備抵評價之決定因素及價值攸關性：台灣上市公司之實證研究，中華會計學刊，第三卷，第二期，頁201-236。
林松宏，2004，遞延所得稅評價之研究，國立成功大學會計學研究所未出版博士論文。
---------、吳清在，2004a，遞延所得稅資產備抵評價組成因子之研究，2004會計理論與實務研討會，國立政治大學會計學系與中華會計教育學會主辦。
---------、---------，2004b，遞延所得稅資產備抵評價盈餘管理之研究，2004中華企業評價學會研討會，國立交通大學科技管理研究所主辦。
---------，2006，遞延所得稅資產被抵評價組成因子之研究，中華會計學刊，第五卷，第一期，頁1-41。
林娟慧，2005，遞延所得稅資產備抵評價之資訊內涵及股價資訊性：台灣上市公司之實證研究，國立成功大學會計學研究所碩士論文。
財團法人中華民國會計研究發展基金會，1994，財務會計準則公報第二十二號：所得稅之會計處理準則。
財團法人中華民國會計研究發展基金會，1999，財務會計準則公報第二十二號：所得稅之會計處理準則，最新修訂版。
徐景亮，1992，美國新所得稅會計處理準則(上)，會計研究月刊，第八十七期，頁107-115。
---------，1992，美國新所得稅會計處理準則(中)，會計研究月刊，第八十八期，頁51- 88。
---------，1992，美國新所得稅會計處理準則(下)，會計研究月刊，第八十九期，頁146-152。
陳依依，1998，遞延所得稅資產評價之實證研究，國立中正大學會計學研究所未出版碩士論文。
張仲岳，1997，證劵投資分析－會計資訊之應用，三民書局。
張至誼，2001，遞延所得稅資產評價之盈餘管理探討，國立台灣大學會計學研究所碩士論文。
蘇逸穎，2001，本期盈餘、預期未來盈餘和盈餘操縱之關聯性，國立台灣大學會計學研究所碩士論文。

二、英文文獻
Akerlock, G. 1970. The market for “lemons”: Qunlity uncertainty and the market mechanism. Quarterly and Economics 28（1）：1-25.
Albornoz, B. G., and J. J. Alcarria. 2003. Analysis and diagnosis of income smoothing in Span. European Accounting Review 12（3）：443-463.
Amir, E., M. Kirschenheiter, and K.Willard. 1997. The valuation of deferred taxes, Contemporary Accounting Research Vol. 14 No.4 (Winter): 597-622.
----------, and T. Sougiannis. 1999. Analysts’ interpretation and investors’ valuation of tax carry forwards. Contemporary Accounting Research Vol.　16 No. 1 (Spring): 1-33.
Ayers, B.C. 1998. Deferred tax accounting under SFAS No.109：An empirical investigation of its incremental value-relevance relative to APB No.11. The Accounting Review. Vol. 73, No 2 (April): 195-212.
Balsam, S. 1998. Discretionary accounting choices and CEO compensation. Contemporary Accounting Research 15 (Fall): 229-252.
Barnea, A., J. Ronen and S. Sadan. 1976. Classificatory smoothing of income smoothing with extraordinary item. The Accounting Review（January）：111,
Barton, J. 2001. Does the use of financial derivatives affect earnings management decisions ? The Accounting Review 76 (January): 1-26.
Bartov, E. 1993. The timing of asset sales and earnings manipulation. The Accounting Review 68 (October): 840-855.
Bauman, C. C., and M. P. Bauman. 2000. The deferred tax asset valuation allowance as a strategic accounting choice. Working paper, University of Wisconsin-Milwaukee , University of Illinois at Chicago.
-----------, -----------, and R. F. Halsey. 2001. Do firms use the deferred tax asset valuation allowance to manage earnings？The Journal of the American Taxation Association 23: 27-48.
Beaver, W., E. Engle. 1997. Discretionary behavior with respect to allowances for loan losses and tke behavior of security prices, Journal of Accounting and Economics 22, 177-206.
Beidleman, C. R. 1973. Income smoothing: the role of management. The Accounting Review, 48 (October): 653-667.
Bhat, V. N. 1996. Banks and income smoothing: an empirical analysis. Applied Financial Economics 6 (December): 505-510.
Burgstahler, D., W. B. Elliott, and M. Hanlon. 2002. How firms avoid losses：Evidence of use of the net deferred tax asset account. Working paper. University of Washington.
Chaney, P. K., 1998. Income smoothing and underperformance in initial public offerings. Journal of Corporate Finance 4: 1-29.
Chao C. L., R. L. Kelsey, S. M. Horng, and C. Y. Chiu. 2004. Evidence of earnings management from the measurement of the deferred tax allocation account. The Engineering Economist 49 (1)：63-93.
Comiskey, E. A., and C. W. Mulford. 1994. Evaluating deferred-tax assets：Some guidance for lenders. Commercial Lending Review 9 : 12-25.
Dascher, M, J., and R. E. Malcolm. 1970. A note on income smoothing in the chemical industry. Journal of Accounting Research（Autumn）：253-254.
Dechow, P. M., R. G. Sloan, and A. P. Sweeney. 1995. Detecting earnings management. The Accounting Review 70 (April): 193-225.
Defond, M., and C. W. Park. 1997. Smoothing income in antipation of future earning. Journal of Accounting and Economics 23 (July): 115-139.
Elger, P. T., R. J. Pfeiffer Jr., and S. L. Poeter. 2003. Anticipatory income smoothing：a re-eaxmination. Journal of Accounting and Economics 35：405-422.
Frank, M. M., and S. O. Rego. 2006. Do managers use the valuation allowance account to manage earnings around certain earnings targets？ Working paper, University of Iowa.
Fudenberg, D. and J. Tirole. 1995. A theory of income and dividend smoothing based on incumbency rents, Journal of Accounting and Economics, 115-139.
Gaver, J. J., K. M. Gaver, and J. R. Austin. 1995. Additional evidence on bonus plans and income management. Journal of Accounting and Economics 19 (February): 3-28.
Gordon, M. J., 1964. Posutlates, principles, and research in accounting. The Accounting Review（April）.251-263.
Gordon, E. A., and P. R. Joos. 2004. Unrecognized deferred taxes : Evidence from the UK. The Accounting Review (Jan). 97-124.
Healy, P. 1985. The information content of losses. Journal of Accounting and Economics. (April):85-107.
---------- and J. M. Wahlen. 1999. A review of the earnings management literature and its implication for standard setting. Accounting Horizons（December）：365-383.
Hepworth, S. R. 1953. Smoothing periodic income. The Accounting Review (January)：32-39,
Holland, K., and Richard H. G. Jackson. 2003. Earnings management and deferred tax. Accounting and Business Research. Forthcoming.
Kamin, J. Y., and J. Ronen. 1978. The smoothing of income numbers: some empirical evidence on systematic differences among management-controlled and owner-controlled firms, Accounting, Organizations and Society, 3 (2):141-157.
Kanagaretnam, K., G. J. Lobo and R. Mathieu. 2003. Managerial incentive for income smoothing through bank loan loss provisions, Review of Quantitative Finance and Accounting, 20（1）：63-80.
----------, ----------, and D. Yang. 2000. Joint tests of signaling and income smoothing through bank loan loss provisions, Working paper.
----------, ----------, and ----------. 2004. Joint tests of signaling and income smoothing through bank loan loss provisions, Contemporary Accounting Research 21（4）：843-884.
Kumar, K. R. and G. Visvanathan. 2003. The information content of the deferred tax valuation allowance. The Accounting Review 78 (April)：471-490.
Lambert, R. A. 1984. Income smoothing as rational equilibrium behavior. The Accounting Review 59 (October): 604-618.
Lev, B., and S. Kunitzky. 1974. On the association between smoothing measures and the risk of common stocks. The Accounting Review 49 (April): 259-270.
Lim, S. C., and S. Lustgarten. 1998. Testing for income smoothing using the backing-out problem. Work paper draft, Baruch College.
Liu, C. C. and S. G. Ryan. 1995. The effect of bank loan portfolio composition on the market reaction to and anticipation of loan loss provisions, Journal of Accounting Research 33: 77-94.
Lu, J. 2000. The valuation allowance for deferred tax assets and earnings management. Working paper, University of Southern California.
Miller, G., and D. Skinner. 1998. Determinants of the valuation allowance for deferred tax assets under SFAS No.109. The Accounting Review. Vol.73. No.2 (April): 213-33.
Moses, O. D. 1987. Income smoothing and incentives: empirical tests using accounting changes. The Accounting Review 62 (April): 358-377.
Ohlson, J. 1995. Earnings, book values, and dividends in equity valuation. Contemporary Accounting Research 11 (Spring): 661-687.
Peavey, D. E., and H. Nurnberg. 1993. FASB 109：Auditing considerations of deferred tax assets. Journal of Accountancy (March): 77-81.
Petree, T. R., G. J. Gregory, and R. J. Vitray. 1995. Evaluating deferred tax assets. Journal of Accountancy (March): 71-77.
Petroni, K. R. 1992. Optimistic reporting in the property casualty insurance industry. Journal of Accounting and Economics 15：485-508.
Ronen, J., and S. Sadan. 1975. Classificatory smoothing: alternative income models. Journal of Accounting Research 13 (Spring): 133-149.
Ronen, J., and S. Sadan. 1981. Smoothing income numbers: objectives, means and implications. Reading, MA: Addison-Wesley.
Schrand, C. and M. H .F. Wong. 2003. Earnings management using the valuation allowance for deferred tax assets under SFAS 109. Contemporary Accounting Research (Fall)：579-611.
Srinidhi, B., and J. Ronen. 2001. Market imperfection as the cause of accounting income smoothiing－the case of differential capital access.
Trueman, B., and S. Titman. 1988. An explanation for accounting income smoothing. Journal of Accounting Research 26 (Supplement): 127-139.
Tucker, J. W., and P. A. Zarowin. 2006. Does income smoothing improve earning informativeness. The Accounting Review, 81（1）：251-270.
Visvanathan, G.. 1998. Deferred tax valuation allowances and earnings management, Journal of Financial Statement Analysis 3 (4): 6-15.
Wahlen, J. 1994. The nature of information in commercial bank lossloan disclosures, The Accounting Review, 455-478.
Wang, Z., and T. H. Williams. 1994. Accounting income smoothing and stockholder wealth. Journal of Applied Business Research 10 (Summer): 96-104.