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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
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dc.contributor.advisor | 陳文華 教授 | |
dc.contributor.author | Chun-Chieh Chen | en |
dc.contributor.author | 陳俊捷 | zh_TW |
dc.date.accessioned | 2021-06-08T06:19:36Z | - |
dc.date.copyright | 2006-10-25 | |
dc.date.issued | 2006 | |
dc.date.submitted | 2006-10-18 | |
dc.identifier.citation | Admati, Anat, Zechner, Josef and Pfleiderer, Paul, 1994. “Large shareholder activism, risk sharing and financial market equilibrium”, Journal of Political Economy102, pp.1097-1130
Asquith, Paul and Mullins, David, 1986. “Equity issues and offering dilution”, Journal of Financial Economics 15, pp. 61-89 Denis, David, 1994. “Investment opportunities and the market reaction to equity offerings”, Journal of Financial and Quantitative Analysis 29, pp. 159-177 Eckbo, B. Espen, Marsulis, Ronald and Norli, Oyvind, 2000. “Seasoned public offerings: resolution of the New Issues Puzzle”, Journal of Financial Economics 56, pp.251-291 Eckbo, Espen and Marsulis, Ronald, 1992. “Seasoned equity offering: A survey”, in Handbooks in Operations Research and Management Science, Vol. 9, North Holland Harjoto, Maretno and Garen, John, 2003. “Why do IPO firms conduct primary seasoned equity offerings?” Financial Review Vol. 38 No. 1, pp. 103-125 Jegadeesh, N., Weinstein, M., and Welch, I., 1993. “An empirical investigation of IPO returns and subsequent equity offerings”, Journal of Financial Economics 34, pp. 153-175 Jensen, Michael and Meckling, William, 1976. “Theory of the firms: managerial behavior, agency costs and ownership structure”, Journal of Financial Economics 3, pp. 305-360 Jung, Kooyul, Kim, Yong-Cheol and Stulz, Rene, 1996. “Timing, investment opportuities, managerial discretion, and the security issue decision”, Journal of Financial Economics 42, pp. 159-185 Korajczyk, Robert, Lucas, Deborah and McDonald, Robert, 1991. “The effect of information release on the pricing and timing of equity issues” Review of Financial Studies 4, pp.685-708 Leland, H. E., and Pyle, D. H., 1977. “Information asymmetries financial structure, and financial intermediation”, Journal of Finance Vol. 32, pp. 371-387 Myers, Stewart and Majluf, Nicholas, 1984. “Corporate financing and investment decision when firms have information that investors do not have”, Journal of Financial Economics 13, pp. 187-221 Pagano, M., Panetta, F., and Zingales, L., 1998. “Why do companies go public? An Empirical Analysis.” Journal of Finance, Vol. 53, No. 1, pp. 27-64 Rangan, Srinivasan, 1998. “Earning management and the performance of seasoned equity offerings”, Journal of Financial Economics 50, pp. 101-122 Ritter, Jay R. and Welch, Ivo, 2002. “A review of IPO activity, pricing, and allocations” Journal of Finance Vol. 57 No. 4, pp. 1795-1828 Stoughton, Neal, and Zechner, Josef, 1998. “IPO-mechanisms, monitoring and ownership structure” Journal of Financial Economics 49, pp. 45-77 Welch, I., 1989. “Seasoned offerings, imitation costs and the under pricing of initial public offerings”, Journal of Finance Vol. 44 No. 2, pp. 421-449 | |
dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/25578 | - |
dc.description.abstract | 本研究以Harjoto 和 Garen (2003)的二期模型來探討台灣上市櫃公司在掛牌後辦理現金增資的影響因素。以1996到 2000年的台灣上市櫃公司為樣本,我們發現當公司有越多未被預期到的成長機會時,該公司越可能在上市櫃後四年內辦理現金增資且具有較大的發行規模。我們也同時發現當公司的資產波動度越高時則越不傾向於以現金增資做為集資的手段,其現金增資的發行規模也相對較小。上述實證結果支持Harjoto 和 Garen於2003年所提出的見解。認為當公司面臨未被預期的成長機會時,公司的所有人/管理者有動機辦理現金增資;而當公司資產波動度高時,則傾向不辦理現金增資。 | zh_TW |
dc.description.abstract | We investigate the reason behind the IPO firm’s decision to conduct a primary seasoned equity offering (SEO). In this paper, we follow the two-period model of blockholder incentives starting from the IPO stage developed by Harjoto and Garen (2003). Using a sample of Taiwan IPO firms during 1996 to 2000, we find that IPO firms with higher anticipated opportunities of growth are more likely to conduct an SEO within four years after their IPOs and positively affect the relative size of the firm’s SEO. We also find that the firm’s risk measure decreases the likelihood of conducting an SEO and reduces the relative size of an SEO. All our empirical findings provide support of the two-period model developed by Harjoto and Garen (2003). | en |
dc.description.provenance | Made available in DSpace on 2021-06-08T06:19:36Z (GMT). No. of bitstreams: 1 ntu-95-R93741040-1.pdf: 1494271 bytes, checksum: 94148c44e9afcf10ee76249162f9af06 (MD5) Previous issue date: 2006 | en |
dc.description.tableofcontents | ChapterI.Introduction………………………………………………1
Chapter II.Literature Review A.Literature review on ownership concentration……………5 B.Literature review on firm investment decision…………7 C.Basic hypothesis from the model……………………………10 Chapter III.Data and Methodology A.Data………………………………………………………………13 B.Methodology………………………………………………………14 C.Control Variables………………………………………………16 Chapter IV.Empirical Result A.Correlation between independent variables………………18 B.Summary Statistics……………………………………………18 C.Analysis of the IPO firm’s decision to conduct an SEO………………………………………………………………………19 D.Analysis of the relative size of SEO……………………20 Chapter V.Discussion and Conclusion……………………………25 References……………………………………………………………27 Appendix……………………………………………………………….29 | |
dc.language.iso | en | |
dc.title | 探討台灣上市櫃公司掛牌後辦理現金增資的影響因素 | zh_TW |
dc.title | Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan | en |
dc.type | Thesis | |
dc.date.schoolyear | 95-1 | |
dc.description.degree | 碩士 | |
dc.contributor.coadvisor | 陳聖賢 教授 | |
dc.contributor.oralexamcommittee | 周冠男 副教授 | |
dc.subject.keyword | 現金增資,公司治理,未預期的成長機會, | zh_TW |
dc.subject.keyword | Seasoned equity offering (SEO),Corporate governance,Unanticipated growth,Blockholder, | en |
dc.relation.page | 36 | |
dc.rights.note | 未授權 | |
dc.date.accepted | 2006-10-18 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 商學研究所 | zh_TW |
顯示於系所單位: | 商學研究所 |
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