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請用此 Handle URI 來引用此文件: http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/60539
完整後設資料紀錄
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dc.contributor.advisor胡星陽(Sing-Yang Hu)
dc.contributor.authorChia-Chuan Linen
dc.contributor.author林佳撰zh_TW
dc.date.accessioned2021-06-16T10:21:01Z-
dc.date.available2020-07-17
dc.date.copyright2020-07-17
dc.date.issued2020
dc.date.submitted2020-07-06
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Feldman, E. R., Amit, R., Villalonga, B. (2019). Family firms and the stock market performance of acquisitions and divestitures. Strategic Management Journal, 40(5), 757–780. https://doi.org/10.1002/smj.2999
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林宛瑩, 許崇源. (2008). 台灣集團企業之控股型態及公司治理衡量指標之研究與建議. 交大管理學報, 28(1), 269–312.
dc.identifier.urihttp://tdr.lib.ntu.edu.tw/jspui/handle/123456789/60539-
dc.description.abstract本研究以過去台灣上市櫃公司間併購案例為樣本,同時考慮雙邊之公司型態,探討不同交易對手組合與公司短期股市表現之關係。研究結果發現,當家族併購非家族企業時,對主併公司與目標公司皆有較高的短期報酬,隱含家族企業併購優勢於併購非家族企業時較明顯。本研究亦發現同集團公司併購與併購短期績效呈負相關,而最終控制者席次控制權與盈餘分配權之偏離程度則與短期績效呈正相關。zh_TW
dc.description.abstractThis paper investigates the past merger and acquisition cases of public listed companies in Taiwan, and also considers the bilateral company types to explore the relationship between different counterparty combinations and the company's short-term stock market performance. The results of the study found that when a family acquires a non-family company, it has higher short-term returns to both the acquiring company and the target company, implying that the advantage of a family company M A is more obvious when acquiring a non-family company. This study also found that the merger and acquisition of the same group company and the short-term stock performance were negatively correlated, and the degree of deviation between the ultimate controller's seat control and the cash flow right was positively correlated with the short-term performance.en
dc.description.provenanceMade available in DSpace on 2021-06-16T10:21:01Z (GMT). No. of bitstreams: 1
U0001-0507202014100600.pdf: 992080 bytes, checksum: 954cf48ebdf2419eb381b6e41933b1ef (MD5)
Previous issue date: 2020
en
dc.description.tableofcontents致謝 I
中文摘要 II
ABSTRACT III
壹、 緒論 1
貳、 文獻探討 3
第一節、 家族企業與經營表現之關係 3
第二節、 家族企業併購策略的行為與表現 4
第三節、 探討家族企業併購的雙邊表現 5
參、 研究設計 7
第一節、 研究假說 7
第二節、 資料來源與樣本選取 9
第三節、 變數定義 10
第四節、 研究方法 17
肆、 實證結果與分析 19
第一節、 敘述性統計分析 19
第二節、 不同併購交易組合之短期股市表現 27
伍、 研究結論與建議 38
第一節、 研究結論 38
第二節、 研究建議與限制 38
陸、 參考資料 39
dc.language.isozh-TW
dc.subject併購zh_TW
dc.subject家族企業zh_TW
dc.subject公司所有權zh_TW
dc.subject累積超額報酬zh_TW
dc.subject市場反應zh_TW
dc.subjectMarket Reactionen
dc.subjectFamily Firmsen
dc.subjectCompany Ownershipen
dc.subjectMerger and Acquisitionen
dc.subjectCumulative Abnormal Returnen
dc.title市場對牽涉家族企業之併購案之反應--以台灣為例zh_TW
dc.titleMarket Reaction to M As Involving Family Firms - Evidence from Taiwanen
dc.typeThesis
dc.date.schoolyear108-2
dc.description.degree碩士
dc.contributor.oralexamcommittee陳彥行(Yan-Shing Chen),陳坤志(Kun-Chih Chen)
dc.subject.keyword併購,家族企業,公司所有權,累積超額報酬,市場反應,zh_TW
dc.subject.keywordMerger and Acquisition,Family Firms,Company Ownership,Cumulative Abnormal Return,Market Reaction,en
dc.relation.page42
dc.identifier.doi10.6342/NTU202001318
dc.rights.note有償授權
dc.date.accepted2020-07-06
dc.contributor.author-college管理學院zh_TW
dc.contributor.author-dept財務金融學研究所zh_TW
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