Empirical analysis on recognition versus disclosure issues in financial reporting

本研究考察了财务报告的“格式效应”对个人和境外机构投资者行为的影响。对于外国投资者，本文考察了报告的数字与从全球标准化数据库获得的数字之间的差异是否会影响外国投资者的所有权，因此没有发现统计上显著的影响。通过问卷调查的方式研究格式对个人投资者的影响，了解个人投资者对会计处理知识和对脚注披露的关注与个人投资者投资行为之间的关系。通过持有相当长的时间和优先考虑股东福利，他们减少了格式效应的潜在影响。

This research investigates" format effect" of financial reporting with respect to both individual and foreign institutional investors' behaviors. Regarding foreign investors, it examines whether the differences between the reported numbers and the numbers obtained from globally standardized database would affect foreign investors' ownership and consequently finds no statistically significant impact. The research on format effect to individual investors is undertaken by questionnaire survey to see the relationship between their knowledge about accounting treatment and attention to footnote disclosure and their investment behaviors. By holding considerable length and prioritizing stockholder perks they reduce the potential impact of format effect.