在美國資本市場中，許多公司所發布的盈餘，不僅僅有根據一般公認會計原則(GAAP)所編制的盈餘(以下稱為會計盈餘)，還有包含揭露擬制性盈餘，以減少投資人的資訊不對稱。擬制性盈餘，其本質為在會計盈餘之外，排除GAAP部分項目，所產生另一個自願性揭露的盈餘。
本文以美國公司為樣本，刪除許多缺漏值後，最後共同交集的2007及2008兩年共51筆樣本，結果顯示擬制性盈餘與其擬制性盈餘排除項目，和未來盈餘的相關性極高，即表示擬制性盈餘其排除項目的品質其實並不高。另外，也發現到董事會如果有財務專家，有助於提升擬制性盈餘的品質，且額外控制董事會有女性董事及董事長兼任總經理變數下，本研究仍獲得穩健的結果。

關鍵詞：擬制性盈餘、董事會財務專家、會計盈餘

Abstract
Currently, the earnings held by companies are not only the earnings following the GAAP or IFRS (abbreviated as “accounting earnings”) but also include non-GAAP earnings. The goal of doing this is to add a financial indicator in hopes of lowering the information asymmetry.
Here, an association between the characteristics of non-GAAP earnings and the financial expertise of directors is investigate, and it is found that when the board of directors contains at least one director with financial expertise, non-GAAP exclusions will have larger implications for future earnings. Other variables such as female directors and CEO duality are also included for the robustness test and find qualitatively similar results.

Keywords: Non-GAAP earnings, Financial expertise, GAAP earnings

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