企業環境競爭之日趨白熱化及證券投資市場之蓬勃發展，使得「預測性資訊」於投資者之決策過程中，扮演著愈來愈顯重要的角色，尤其是兼具客觀性及正確性的分析師盈餘預測資訊更是如此。財務分析師成為證券市場之代言人，隱含著兩層意義：一為財務分析師將成為會計資訊的重要（直接）使用人；另一為投資人之投資績效將與財務分析師之預測績效息息相關，因而吾人有必要對財務分析師之決策過程及其產品（盈餘預測資訊）獲致更進一步的了解。

基於上述理由，故本研究擬站在會計資訊產出者和投資人的立，場就財務分析師對期中報告之應用情形及其盈餘預測之修正決策，予以探討。本研究之研究主題有二：(一)財務分析師盈餘預測修正之時間特性為何？主要係在調查財務分析師是否傾向於期中報告發佈後修正盈餘預測，又財務分析師於各季財務報告發佈後之修正頻率是否相當；(二)財務分析師於期中報告發佈後修正盈餘預測之決定因素為何？主要在探討影響分析師對期中報告之相對依賴程度的因素究竟為何，及財務分析師於評估已發佈之盈餘預測時，所依據的指標為何，在此主題下，本研究提出之決定因素有四，分別為非預期盈餘之大小、非預期盈餘之符號、公司規模大小、及盈餘變異水準。

經由實證研究結果，本研究獲致如下的結論：

(一)在時間特性方面，發現財務分析師於期中宣告後之盈餘預測修正頻率明顯地多於年度內其他時間；又財務分析師於第二季及第三季盈餘宣告後之修正頻率亦顯著地多於第一季，然第二季與第三季間卻無明顯差異。所以大致而言，分析師對於期中報告之依賴程度相當高，尤其是第二季及第三季。

(二)在決定因素方面，則發現財務分析師於期中報告發佈後修正盈餘預測之決定因素包括為非預期盈餘大小，該項因素和財務分析師於期中宣告後之盈餘預測修正行為係呈顯著正相關。

一、 中文部分
1. 吳安妮，經理人員自願揭露盈餘預測資訊給外界之決定因素──實證研究，會計評論，民國八十年二月，第25期：1-24頁。
2. 許錦娟，管理當局盈餘預測在證券投資決策之有用性研究，國立政治大學會計研究所碩士論文，民國八十一年六月。
3. 許秀賓，財務分析師盈餘預測相對準確性決定因素之實證研究，國立政治大學會計研究所碩士論文，民國八十年七月。
4. 張淑娟，盈餘預測準確度與公司特質關係之研究，國立政治大學會計研究所碩士論文，民國八十年七月。
5. 林維衍，台灣上市公司盈餘預測：時間序列與公司預期之比較暨聯合效益分析，國立政治大學會計研究所碩士論文，民國七十九年六月。
6. 王富中，期中財務報表預測盈餘之功能，國立政治大學會計研究所碩士論文，民國七十八年六月。
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8. 徐春美，期中報表預測能力之研究，國立政治大學會計研究所未出版碩士論文，民國六十八年六月。
9. 鄭丁旺著，中級會計學，上冊，台北：自行出版，民國七十九年八月四版。
10. 賴源河，證券管理法官，台北：自行出版，民國七十八年四月初版。
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13. 證券交易法，民國七十七年一月二十九日公告。

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