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http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/37392完整後設資料紀錄
| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 廖咸興 | |
| dc.contributor.author | Yi-Hsuan Tung | en |
| dc.contributor.author | 董乙璇 | zh_TW |
| dc.date.accessioned | 2021-06-13T15:26:35Z | - |
| dc.date.available | 2008-07-21 | |
| dc.date.copyright | 2008-07-21 | |
| dc.date.issued | 2008 | |
| dc.date.submitted | 2008-07-18 | |
| dc.identifier.citation | [1] Baker, Malcolm, and Jeffrey Wurgler, 2002, “Market timing and capital structure”, Journal of Finance 57, 1–30.
[2] Fama, E. F. and K. R. French, 2002, “Testing trade-off and pecking order predictions about dividends and debt”, The Review of Financial Studies 15(1): 1-33. [3] Fischer, E., Heinkel, R., and J. Zechner, 1989a, “Dynamic Capital Structure Choice: Theory and Tests”, Journal of Finance 44, 19-40. [4] Flannery M. and K. Rangan, 2006, “Partial Adjustment toward Target Capital Structures”, Journal of Financial Economics 79, 469-506. [5] Goldstein, R., Ju, N., and H. Leland, 2001,“ An EBIT Based Model of Dynamic Capital Structure”, Journal of Business 74, 483-512. [6] Graham, J., and Harvey C., 2001, “The Theory and Practice of Corporate Finance: Evidence from the Field”, Journal of Financial Economics 60, 187-243. [7] Hovakimian, A., Opler T, and S. Titman, 2001, “The Debt-Equity Choice”, Journal of Financial And Quantitative Analysis, 36 (1), 1-24. [8] Kayhan A,. and S. Titman, 2007,“ Firms’ Histories and Their Capital Structure”, Journal of Financial Economics 83, 1-32. [9] Leary M., and M. Roberts, 2005, “Do Firms Rebalance Their Capital Structures?”, Journal of Finance ,2575-2619. [10] Leland,H.E.,1994, “Corporate Debt Value, Bond Covenants, and Optimal Capital Structure”, Journal of Finance,1213-1252. [11] Leland, H. E. and K. B., Toft, 1996, “Optimal Capital Structure, Endogenous Bankruptcy, and the Term Structure of Credit Spreads”, Journal of Finance 51, 987-1019. [12] Leland, H.E., 1998, “Agency Costs, Risk Management, and Capital Structure”, Journal of Finance 53, 1213-1243. [13] Miller, M.H. 1977 “Debt and Taxes,” Journal of Finance 32, No.2, 261-275. [14] Modigliani, Franco, and Merton H. Miller, 1963, “Corporate income taxes and the cost of capital: A correction”, American Economic Review, 53, 433-443. [15] Sheridan Titman and Sergey Tsyplakov, 2007, “A Dynamic Model of Optimal Capital Structure”, working paper. [16] Welch, Ivo, 2004, “Capital structure and stock returns”, Journal of Political Economy 112, 106–131. | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/37392 | - |
| dc.description.abstract | 本文發展了一個考慮調整成本後的動態最適資本結構模型。外生給定一現金流量過程，本模型可內生決定公司價值和所有攸關公司價值的衍生性證券價值及最適資本結構。 本模型亦考慮了變動資本結構所帶來的調整成本，包含了固定成本及變動成本；而調整成本會對資本結構的調整頻率和調整幅度有顯著的影響。 此外，本文也對模型做了敏感度分析，結果與經濟直覺和文獻預期皆符合。 | zh_TW |
| dc.description.abstract | This paper develops a dynamic capital structure model with costly adjustment mechanisms. Based on an exogenous cash flow process, the model can endogenously determine the firm value and the claim value of firm’s derivative security under optimal debt level. The model considers costs of adjustments in capital structure, including a fixed cost element and a proportional one, which have significant effect on the frequency of adjustments in capital structure by a firm. The numerical results of simulation analysis of our model are consistent with those expected in literature and intuition. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-13T15:26:35Z (GMT). No. of bitstreams: 1 ntu-97-R95723021-1.pdf: 535190 bytes, checksum: 046c49bacf6fc7d4e6fb952219c37ba8 (MD5) Previous issue date: 2008 | en |
| dc.description.tableofcontents | Context
I. Introduction - 6 - II. Description of the model - 11 - III. Dynamic Capital Structure Strategy - 20 - IV. Numerical Results - 22 - V. Conclusion - 26 - Reference - 27 - | |
| dc.language.iso | en | |
| dc.title | 考慮調整成本下之動態最適資本結構模型 | zh_TW |
| dc.title | A Dynamic Optimal Capital Structure Model
with Costly Adjustment Mechanisms | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 96-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 張焯然,陳聖賢,林丙輝 | |
| dc.subject.keyword | 最適資本結構,調整成本, | zh_TW |
| dc.subject.keyword | Optimal capital structure,Adjustment costs, | en |
| dc.relation.page | 46 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2008-07-18 | |
| dc.contributor.author-college | 管理學院 | zh_TW |
| dc.contributor.author-dept | 財務金融學研究所 | zh_TW |
| 顯示於系所單位： | 財務金融學系 | |
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