金成隆教授讲座题目及内容摘要
Does Meeting Analyst Forecasts Matter in Private Loan Market?
Abstract: Prior studies find that firms meeting or beating analysts’ earnings forecasts
(MBE) have higher equity valuation and lower bond yield spread. In contract to those
studies, this paper explores a firm’s MBE effect on its private loan terms, including
price and non-price terms. We find that despite the fact that banks possess superior
information access and processing abilities that reduce information asymmetry costs
for borrowers, they still impose more favorable price (i.e., lower loan spread) and
non-price (longer loan maturity) terms for firms meeting expectations than firms
missing expectations. Further analyses indicate that the main explanation for our
findings is provided by the prospect theory instead of transaction cost theory. In
addition, we find that the benefits of meeting expectation (i.e., lower loan spread and
longer maturity) are more pronounced for financially distress firms (habitual beaters)
than financially sound firms (sporadic beaters).
金成隆教授简介
金成隆教授现为台湾政治大学会计学系特聘教授兼系主任，博士生导师，台
湾政治大学会计研究所博士，美国俄勒冈大学访问学者，会计评论（International
Journal of Accounting Studies，TSSCI）总编辑，目前感兴趣的研究领域包括：财
务报告披露、盈余管理和财务分析等。已在 Auditing: A Journal of Practice
&Theory、Journal of Business Finance and Accounting、Contemporary Accounting
Research、Asia-Pacific Journal of Accounting and Economics、Journal of Accounting,
Auditing and Finance、Journal of Forecasting、Journal of International Accounting
Research、Review of Quantitative Finance and Accounting、财务金融学刊、证券市
场发展季刊、会计评论、管理学报（2001/2010 最佳论文）等 SSCI、TSSCI 期刊
发表论文 40 余篇
金成隆教授主要学术成果包括
Sue, S. H.; C. L. Chin; A.L. C. Chan, 2013.05. Exploring the causes of accounting
restatements by family firms. Journal of Business Finance and Accounting,
Accepted.(SSCI)
Liu, C. L., C. C. Chin, and Y. C. Chen. 2013. Weather Effects on Earnings Response
Coefficients: International Evidence, Asia Pacific Journal of Accounting and Economics.
315-333(SSCI) (國科會A-類期刊).
Chin, C. L., Y-J Chen, and J. W. Liang. 2013. International Diversification and
Conference Calls. Asia-Pacific Journal of Accounting and Economics. 297-314
(SSCI) (國科會A-類期刊).
Jiawen, C. W., M. F. Lin, and C. L., Chin. 2012. Does foreign institutional ownership
motivate firms in an emerging market to increase voluntary disclosure? Evidence
from Taiwan, Review of Quantitative Finance and Accounting, Volume 39, Issue 1,
55-76. (國科會 A-類期刊).
Chi, S. Y., and C. L. Chin. 2011. Firm versus Partner Measures of Auditor Industry
Expertise and Effects on Auditor Quality, Auditing: A Journal of Practice & Theory.
Vol. 30. No.2. 201~229(SSCI). (國科會 A 類期刊).
Chin C. L., W. Lin, and Y. Shu. 2011, On the Association between IPO Underpricing
and Regulatory Reforms for Management Forecasts: Pure underpricing and
overreaction, Journal of Forecasting, 30, 225-248. (SSCI)
曹壽民，金成隆，張至文，2011. 股權結構與多角化. 台大管理論叢，第 22 卷第 1
期，165-198 頁. (TSSCI)
林美鳳,張淑慧, 金成隆,管理學報. 2011. 投資人情緒與分析師行為之關聯性研究,
管理學報, 第 28 卷，第 5 期，頁 447-474. (TSSCI).
Lu, C. J. and C. L. Chin. 2010. Determinants of analyst forecast horizons. Journal of
Management, 27 (4), 371-395. (TSSCI).
Chin, C. L. ;Y. J. Chen;T. J. Hsien, 2009, International Diversification, Ownership
Structure, Legal Origin, and Earnings Management: Evidence from Taiwan, Journal
of Accounting, Auditing and Finance. Vol.24, No 1,145-175. (國科會 A 類期刊)
Chin, C. L. ;Y. J., Chen; G. KLeinman; P. Lee, 2009, Corporate ownership structure
and innovation: Evidence from Taiwan's electronics industry. Journal of
Accounting, Auditing,& Finance. Vol. 24, No. 1, 145 -175. (NSC: A 類期刊).
Chin, C. L., S. Y., Chi, 2009, Reducing restatements with increased industry expertise.
Contemporary Accounting Research, Vol 26, 729-765. (SSCI) (國科會 A+類期刊).
Chin, C. L., S. M. Tsao, and H. Y. Chi, 2007. Non-audit services and bias and accuracy
of voluntary earnings forecast reviewed by incumbent CPA. Corporate Governance:
An International Review, Vol. 15, No. 4, 661-676. (SSCI)
Chin, C. L., G. Kleinman, P. Lee and M. Lin, 2006. Corporate ownership structure and
accuracy and bias of mandatory earnings forecast: Evidence from Taiwan. Journal
of International Accounting Research, Vol. 5 (2); 41-62. (Published by AAA) (國科
會 B+類期刊).
Chang, C. T., C. L. Chin and M. F. Lin. 2006. On the single item multi-supplier system
with variable lead-time, price-quantity discount, and resource constraints, Applied
Mathematics and Computation, 182, 89-97. (SCI)
Chin, C. L. G, Kleinman, P. Lee, and P. Wang, 2007. Does Innovation Matter to
Conference Calls? IEEE Transactions on Engineering Management (組織行為類,
IEEE 唯一管理類期刊). Vol. 54(4): 1-18.(SSCI)
Chin, C.L., et al. 2006. IPO Anomalies and Innovation Capital, Review of Quantitative
Finance and Accounting, Vol. 27 (1): 67-91. (Econ.List, FLI) (A-)(國科會 A-類期
刊)
Anadarajan, A., C. L. Chin, P. Lee and H. Chi., 2007. The Effect of Innovation on Firm
Performance: The Experience of Taiwan. Advances in Accounting, Vol. 23: 1-30.
(國科會 B+類期刊).
Jaggi, B., C. L. Chin, H. Lin, and P. Lee. 2006 Earnings forecasts disclosure regulation
and earnings management by IPO firms to meet the forecast error threshold. Review
of Quantitative Finance and Accounting, Vol. 26 (3), 275-299. (Econ.List, FLI). (國
科會 A-類期刊)
Chin C. L., T. T. Lin; C. C. Lee, 2005, Convertible Bonds Issuance Terms, Management
Forecasts, and Earnings Management: Evidence from Taiwan Market, Review of
Pacific Basin Financial Markets and Policies, Vol 8, No. 3, 543-571. (Econ Lit.,
FLI).
Chin, C. L., H. Chi, A. Anadarajanet, and P. Lee. 2006. Patent Citation, Spillover, and
Tobin Q: Evidence from the Taiwan Semiconductor Industry, Review of Quantitative
Finance and Accounting, Vol. 26(1): 67-84. (Econ.List, FLI) (國科會 A-類期刊)
Chin, C. L.;S. Y. Chi; H. Lee, 2009, Chinese Ownership Structure and Innovation
Performance, Journal of Management. 26, 17~33 (TSSCI)
呂倩如, 蘇淑惠, 金成隆. 2009, 家族公司與盈餘品質關係之研究：所有權、管理權
與控制權. 第 19 卷第 S2 期, 35-79.(TSSCI).
林美鳳;金成隆;梁嘉紋, 2009, "公司股權結構與外資持股關係之研究," 中山管理評
論. Vol.18, No.1, pp.93-135. (TSSCI)
林美鳳,金成隆*林良楓, 2009, 股權結構，盈餘保守性和信用評等關係之研究. 台大
管理論叢 Vol.20, No.1, pp.289-330 (TSSCI).
陳俞如,金成隆、謝存瑞，2009，海外投資與盈餘品質：資訊不對稱的觀點，管理學
報, 第 26 卷，第四期，頁 353 -376 (TSSCI).
金成隆;林美鳳;梁家紋, 2008, "公司治理結構和法人說明會之關聯性研究," 管理學
報. (TSSCI)，第二卷，第二期， 221-243(TSSCI)