Page 155 - 臺大管理論叢第32卷第1期

NTU Management Review Vol. 32 No. 1 Apr. 2022

voluntarily disclosure of unaudited earnings on the MOPS. However, the empirical model
coefficient of determination shows that there may be other influential factors that have yet
to be considered. Future studies may further explore other possible associating factors to
further understand management’s motives for voluntarily disclosing unaudited earnings.

5. Originality/Contribution

This study makes several contributions to the extant literature. First, since its
implementation in 2009, no existing studies have focused on the voluntary disclosure of
unaudited earnings on this reporting system built in the MOPS and this study fills in the
gap. Apart from exploring the economic incentives on management’s voluntary disclosures
of unaudited earnings, this study also investigates the motives behind management’s

voluntary disclosure decision-making.
Second, the empirical results of this study facilitate relevant authorities to better
understand the current state of companies and the factors that influence the implementation
of the reporting system. These influential factors include ratios, trends, and characteristics

(including the frequency of disclosure) of the companies and shall serve as a reference
for future revisions of the system. In addition, our findings could help capital market
stakeholders to further understand the economic motives behind a company’s voluntary
disclosure of unaudited earnings, and thus improve their investment decision-making

processes.
Finally, since the unaudited earnings disclosure is voluntary, future studies on
economic consequences of the unaudited earnings reporting system will encounter
endogenous self-selection issues (such as the impact of voluntary disclosure of unaudited

earnings on earnings quality, etc.). Thus, a thorough understanding of the factors
associating with management’s motives on the voluntary disclosures are essential when
trying to solve these issues. Our experimental results may serve as a reference for building
models to control parameters for endogenous self-selection issues when further exploring

the economic consequences in the future.

147