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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 陳聖賢 | |
| dc.contributor.author | Ying-Jung Chu | en |
| dc.contributor.author | 朱映蓉 | zh_TW |
| dc.date.accessioned | 2021-06-15T11:19:20Z | - |
| dc.date.available | 2021-08-25 | |
| dc.date.copyright | 2016-08-25 | |
| dc.date.issued | 2016 | |
| dc.date.submitted | 2016-08-18 | |
| dc.identifier.citation | 葉昌橋，「總體經濟情形對資本結構調整速度的影響」，國立中正大學財務金融所碩士論文，2012
林憲平，動態資本結構調整速度 、調整能力與融資決策，國立中正大學財務金融所碩士論文，2014 Almeida, H., Campello, M., Weisbach, M.(2004), The cash flow sensitivity of cash, Journal of Finance, Vol.59, 1777-1804. Banjeree, S., Heshmati A., Weisbach, M.(2004), The dynamics of capital structure, Research in Banking and Finance 4, 275-297. Baker, M., Wurgler, J.(2002), Market timing and capital structure, Journal of Finance, Vol.57, 1-32. Douglas O. Cook and Tian Tang(2009), Macroeconomic conditions and capital structure adjustment speed, Journal of Corporate Finance, Vol.16, 73-77. Drobetz, W., Wanzenried, G.(2006), What determines the speed of adjustment to the target capital structure, Applied Financial Economics 16, 941-961. Estrella, A., Mishkin, F.(1998), The predictive content of the interest rate term spread for the future economic growth, Federal Reserve Bank of Richmond Economic Quarterly. Fama, E., French, K.(1989), Business conditions and expected returns on stocks and bonds, Journal of Financial Economics, Vol.25, 23-49. Graham, J.(1996), Debt and the marginal tax rate, Journal of Financial Economics, Vol.41, 41-73. Hovakimian, A., Opler, T., Titman, S.(2001), The debt-equity choice, Journal of Financial and Quantitative Analysis, Vol.36, 1-24. Huang, R., Ritter, J.(2009), Testing theories of capital structure and estimating the speed of adjustment, Journal of Financial and Quantitative Analysis, Vol.44, 237-241. Jason M. Smith, Kristine Waston Hankins, Michael Faulkender and Mark J. Flannery (2011),Cash flow and leverage adjustments, Journal of Financial Economics, Vol.103, 632-646. Johanna Koëter-Kant, Özde Öztekin, Richard S. and Warr William B. Elliott(2012), Equity mispricing and leverage adjustment costs, Journal of Financial and Quantitative Analysis, Vol.47, 589-616. Korajczyk, R.A, Levy, A.(2003), Capital structure choice: macroeconomic conditions and financial constraints, Journal of Financial Economics, Vol.68, 75-109. Leary, M., Rober, M.R.(2005), Do firms rebalance their capital structures, Journal of Finance, Vol.60, 2575-2619. Lööf, H.(2003), Dynamic optimal capital structure and technical change, ZEW Discussion Paper No.03-06. Minjoo Kim, Viet Anh Dang and Yongcheol Shin(2013), Asymmetric adjustment toward optimal capital structure: Evidence from a crisis, International Review of Financial Analysis, Vol.33, 226-242. Stock, J.H., Watson, M.W.(1989), New indexes of coincident and leading economic indicators, NBER Macroeconomics Annual, MIT Press, Cambridge, Mass., pp.352-394. | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/49207 | - |
| dc.description.abstract | 本文以基本動態追蹤模型(Basic Dynamic Panel Model)研究資本結構調整速度之影響因素，由實證模型分析與結果，影響資本結構調整速度之因素中，期間利差、實質GDP成長率、市場股息殖利率、產業淨值市價比、公司總資產、公司股利、公司營運現金流量、董監事持股比例以及外資投資比例對於台灣上市公司而言為顯著影響變數。進一步分析資本結構調整速度之影響因素，當總體經濟表現良好時，資本結構調整速度較快；當資本市場情況良好時，資本結構調整速度較快；而公司規模較大，則資本結構調整速度較快，但外資投資比例較高，資本結構調整速度較慢。 | zh_TW |
| dc.description.abstract | Using basic dynamic panel model to estimate the impact of macroeconomic, market and firm financial factors on the speed of leverage adjustments, we find the evidence that term spread, real gdp growth rate, market dividend yield, industry average market to book ratio, book asset, dividends, operating cash flow, proportion of shareholding in directors and supervisors and proportion of shareholding in foreign investments are significant factors for Taiwan traded companies. Furthermore, we find that firms adjust their leverage toward targets faster in good macroeconomic situation and market timing. In addition, firm’s book asset is positively related to the adjustment speed of firms. However, proportion of shareholding in foreign investment is negatively related to the adjustment speed of firms. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-15T11:19:20Z (GMT). No. of bitstreams: 1 ntu-105-R03723037-1.pdf: 667047 bytes, checksum: 2a8fd675276c6ac99341689ebf1eef76 (MD5) Previous issue date: 2016 | en |
| dc.description.tableofcontents | 致謝........................i
中文摘要……………………………………………………..……………..……...ii 英文摘要……………………………………………………………..…………….iii 目錄…………………………………………………………………….....................iv 表目錄…………………………………………………………………....................vi 第一章、 緒論…………………………………………….………………………1 第一節、 研究動機…………………………………..…………………………....1 第二節、 研究目的…………………………………..…………..…..……………4 第二章、 文獻探討與回顧…………………………………………………….5 第一節、 文獻回顧……..…………………………………………………………5 第二節、 文獻探討………………………………………………………………..7 第三章、 實證研究方法與資料來源…………………..…………………….9 第一節、 實證研究方法………………..…………………………………………9 第二節、 研究變數衡量……………………..……………………………………11 第三節、 實證資料來源…………………………………………………………..13 第四章、 實證分析與結果…………………………………………………….14 第一節、 實證模型分析…………………………………………………………..14 第二節、 實證模型結果…………………………………………………………..17 第五章、 結論與建議………………………………………………………….19 第一節、 研究結論………………………………………………………………19 第二節、 研究建議………………………………………………………………21 參考文獻………………………………………………………………………….23 | |
| dc.language.iso | zh-TW | |
| dc.subject | 資本結構調整速度 | zh_TW |
| dc.subject | 資本結構 | zh_TW |
| dc.subject | Speed of Leverage Adjustments | en |
| dc.subject | Capital Structure | en |
| dc.title | 探討資本結構調整速度之影響因素-以台灣上市公司為例 | zh_TW |
| dc.title | The factors that affect the speed of leverage adjustment: The case of Taiwan traded companies | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 104-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 何耕宇,周冠男 | |
| dc.subject.keyword | 資本結構,資本結構調整速度, | zh_TW |
| dc.subject.keyword | Capital Structure,Speed of Leverage Adjustments, | en |
| dc.relation.page | 24 | |
| dc.identifier.doi | 10.6342/NTU201603012 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2016-08-19 | |
| 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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