本研究探討三個主題，依序為探討內部、外部公司治理之間的關聯性；應計項目盈餘管理與實質盈餘管理二種盈餘管理方法的關係；內部、外部治理機制之間的交互作用如何影響前述二種盈餘管理方法的運用。第一個研究主題之實證結果發現內部治理與外部治理間呈現正向關係，代表外部與內部治理機制會被聯合運用使得公司的監督機制更加建全。第二個研究主題之實證結果發現應計基礎盈餘管理與實質盈餘管理之間存在同時發生之互補關係，將實質盈餘管理拆分成異常生產成本與異常裁決性費用後結果亦然，代表管理階層會同時利用多種盈餘管理策略來達成盈餘目標。最後一個研究主題之實證結果發現加入內部和外部公司治理機制後會抑制上述多種盈餘管理策略的互補關係，使其轉變成替代關係，此部份證據顯示較為健全的內、外部公司治理機制會抑制及影響管理階層同時執行多種盈餘管理策略的現象。 This study explores three research issues: (1) the relation between internal and external governance; (2) the association between accrual-based earnings management and real activity manipulation; and (3) whether the interaction between internal and external governance mechanisms affects the use of the aforementioned two types of earnings management methods. The empirical results of the first issue show that internal governance is positively related to external governance, suggesting that the use of external and internal governance mechanisms provides a company with a more comprehensive monitoring mechanism. The empirical results of the second issue document that accrual-based earnings management and the real activity manipulation serves as complements and their magnitudes are determined simultaneously. I find similar results when classifying real activity manipulation into abnormal production costs and abnormal discretionary expenditures, revealing that company will use multiple earnings management strategies to achieve earnings targets. The empirical results of the last research issue indicate that both internal and external governance mechanisms will constrain the simultaneous use of multiple earnings management strategies to meet its earnings goal. The part of the evidence shows a more robust internal and external corporate governance mechanism will inhibit the condition that management implement a variety of earnings management strategies at the same time.