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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 | 劉啟群 | |
dc.contributor.author | Ting-Wei Wu | en |
dc.contributor.author | 吳亭葦 | zh_TW |
dc.date.accessioned | 2021-06-13T15:18:40Z | - |
dc.date.available | 2009-08-04 | |
dc.date.copyright | 2008-08-04 | |
dc.date.issued | 2008 | |
dc.date.submitted | 2008-07-23 | |
dc.identifier.citation | Billett, M. T., and Xue, H., 2007. The takeover deterrent effect of open market share repurchases. The Journal of Finance, Vol. LXII, No.4, pp. 1827-1849
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dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/37068 | - |
dc.description.abstract | Accompanying by 1990’s economic recovery, U.S. bank holding companies rely more and more on stock repurchases in payout policies. This increasing trend is striking, and the amount almost equals to the dividend payout in 1997. Previous literatures identify several motives and regulatory requirements effect. In this article, we not only expand the time line and gather more data to re-examine these factors but test three new hypotheses concerning business cycle, loan composition and accounting loan default variables as well.
We use Tobit model and conclude our research as follows: Banks’ magnitude of actual repurchase is positively related to more free cash flow, less growth opportunity, greater total capital adequacy ratio and more risk of being takeover target, which consistent with our expectation. Although banks’ magnitude of actual repurchase is also positively related to larger assets possessed, more cash dividend payout and smaller accounting loan default variables, it is against our expectation and leave some explanations. To summarize, most results support our hypotheses. | en |
dc.description.provenance | Made available in DSpace on 2021-06-13T15:18:40Z (GMT). No. of bitstreams: 1 ntu-97-R95722015-1.pdf: 624064 bytes, checksum: 23616a1c81687df5116cd00cabc50dba (MD5) Previous issue date: 2008 | en |
dc.description.tableofcontents | Index
Ⅰ. Introduction…………………….……………………………1 Ⅱ. Literature and Hypotheses……….…………………………..3 Ⅲ. Research Design………………….………………………....10 Ⅳ. Sources of Data…………………….……………………….14 Ⅴ. Empirical Results…………………….……………………..15 Ⅵ. Conclusion…………………………….…………………….22 Reference………………………………….…………………….24 Appendix: Actual Dollar Repurchases…….…………………….45 | |
dc.language.iso | en | |
dc.title | 美國銀行業實際買回庫藏股計畫之再探討 | zh_TW |
dc.title | A Reexamination of Magnitude of U.S. Bank Holding Companies Actual Share Repurchases | en |
dc.type | Thesis | |
dc.date.schoolyear | 96-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 姜家訓,陳明進 | |
dc.subject.keyword | 庫藏股,景氣循環,會計違約相關變數,放款組合, | zh_TW |
dc.subject.keyword | Repurchase,Loan Portfolio,Accounting Loan Default Variables,Loan Composition, | en |
dc.relation.page | 58 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2008-07-25 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 會計學研究所 | zh_TW |
顯示於系所單位: | 會計學系 |
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