| 期刊詳細資料 Journal detailed information |
| 作者(Author) | Weitzu Chen and Hsin-Hui Tseng |
| 篇名(Article title) | Evidence of Income Smoothing from Securitized Loans and Loan Loss Provisions: Real Transactions vs. Accruals |
| 期刊名(Journal name) | International Journal of Accounting Studies |
| 國際期刊(International Journal) | TSSCI |
| 中文摘要(Abstrct) | 本研究主旨係探究證券化放款與壞帳間之關係。隨著金融資產證券化在銀行業之快速發展，經由美國財務會計準則第140號採用之控制權與財務要素法(control-and-financial-components approach) 對於證券化資產除列之會計處理成為企業管理者從事盈餘平穩的管道。然而，由於銀行面臨實質交易之證券化活動產生之負面經濟後果，銀行業的最大應計項目，壞帳，成為管理者進行平穩化目的之另一策略性工具。本研究實證發現資產證券化與壞帳間之互補關係，除證實企業管理者以證券化之實質交易進行盈餘管理行為外，並提供公平會計下財務報表品質之初步驗證：當公平價值成為金融資產與負債的衡量依據時，企業管理者以證券化數量與資產除列利得進行之盈餘管理行為將對會計盈餘品質產生不利影響，此不利影響可能經由管理者對於金融商品之公平價值進行估計而發生。 |
| ABSTRCT | The purpose of this study is to investigate the relationship between the use of securitized loans and loan loss provisions. As the development of financial asset securitizations (securitizations) is increasing in banking industry, loan transfers under control-and-financial-components approach prescribed by Statement of Financial Accounting Standards (SFAS) No. 140 have become available for mangers to smooth income. However, banks have to face negative consequences from real transactions of securitizations. To achieve smoothing objective, loan loss provisions, as the largest accruals in banking industry, may have been used by managers strategically with securitizations. This study provides evidence on the complementary relationship between securitizations and loan loss provisions and contributes to the line of earnings management research in identifying a specific real transaction, securitizations, available for banks to manage earnings. In addition, findings of this study have implications for the quality of financial reporting under fair value accounting. The use of real transactions to meet earnings target through volume and gains of securitizations raises issues on the quality of accounting earnings as financial instruments are measured at fair value. Attention should be called to unreliable estimates arising from fair value measurements. |
| 中文關鍵字(Keyword) | 盈餘平穩化、證券化資產、壞帳 |
| KEYWORD | Income smoothing, Securitized loans, Loan loss provisions. |
| 卷期(Volume No) | Vol. 54 No. 1 |
| 頁數(Page number) | pp. 43~75 |
| 年份(Year) | 2012 |
| 語言(Language) | 英文 English |