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The Regulation of Non-GAAP Reporting and Earnings Management: Evidence from the Recognition of
Opportunistic Special Items

表 7 證偽測試 (Falsification Test)：平行趨勢假設之探討
Panel A：假說一（樣本年度為 2007-2009 年）
Dependent variable = OppSI
(1) (2)
Variables Post = Post_2008 Post = Post_2009
NonGAAP 0.009*** 0.016***
(3.86) (5.87)
Post 0.008*** -0.000
(7.39) (-0.07)
NonGAAP × Post 0.004 0.008
(1.34) (1.08)
ROA -0.154*** -0.165***
(-18.55) (-17.15)
LEV -0.015*** -0.017***
(-3.78) (-3.47)
BTM 0.002* 0.002**
(1.66) (2.27)
VolSales -0.014*** -0.013***
(-4.41) (-3.50)
Size 0.004*** 0.004***
(10.46) (10.36)
Age -0.000*** -0.000***
(-4.06) (-2.71)
Constant -0.001 0.001
(-0.24) (0.19)
Industry FE YES YES
Adjusted R-squared 0.18 0.20
Observations 14,556 14,556
註：* 表示達 10% 顯著水準；** 表示達 5% 顯著水準；*** 表示達 1% 顯著水準。
各變數之定義請詳表 2。括號為 t 值。標準差估計係採用 Petersen (2009) 群聚穩健標準誤
(Cluster-adjusted Standard Error) 矯正公司別異質性後之標準差。

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