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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 黃志典(Jyh-Dean Hwang) | |
| dc.contributor.author | Chia-Yin Lin | en |
| dc.contributor.author | 林佳音 | zh_TW |
| dc.date.accessioned | 2021-06-15T04:48:18Z | - |
| dc.date.available | 2010-08-05 | |
| dc.date.copyright | 2010-08-05 | |
| dc.date.issued | 2010 | |
| dc.date.submitted | 2010-08-02 | |
| dc.identifier.citation | References
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| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/45894 | - |
| dc.description.abstract | 本研究以1994年至2005年1340多家上市櫃之公司為研究對象，探討其首度上市櫃後在資產報酬率、營業毛利率以及稅前淨利率等指標中是否有惡化的現象。
本研究首先以Wilcoxon Signed-rank test做檢定，結果顯示上市櫃公司在上市櫃後績效表現明顯變差。接著採用動態因子分析(Dynamic Factor Analysis)，分析變數的共同趨勢(Common Trend )，結果顯示大部分的產業在上市櫃後的績效表現皆有惡化的現象。而分析台灣十大產業內公司之共同趨勢更進一步發現營建業、通訊業以及網路設備等產業績效惡化情形最為嚴重。 | zh_TW |
| dc.description.abstract | The paper studies the operating performance of more than 1340 IPO firms in Taiwan from 1994 through 2005. The paper investigates the change in operating performance of firms as they make the transition from private to public ownership.
We examine whether the operating performance of 1340 IPO firms in Taiwan from 1994 through 2005 deteriorated. First, by using Wilcoxon signed rank test, we find significant decline in operating performance subsequent to the initial public offering (IPO). Second, by using dynamic factor analysis, we find that IPO firms deteriorate after going public especially in construction, communication, and network modem industry. Using ten industries as variables, it becomes clear that the three measures of return on assets, gross margin, and earnings before tax margin have the tendency to perform better before going public then perform worse after going public. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-15T04:48:18Z (GMT). No. of bitstreams: 1 ntu-99-R97724020-1.pdf: 1573628 bytes, checksum: abca5b605771749cfc2deec4644bdefb (MD5) Previous issue date: 2010 | en |
| dc.description.tableofcontents | Outline
謝辭 i 中文摘要 ii THESIS ABSTRACT iii LIST OF FIGURES vi LIST OF TABLES vii Chapter I Introduction 1 1.1 Research Background 1 1.2. Motivation and Purposes 2 Chapter II Literature Review 5 2.1 Theoretical Background 5 2.1.1 Explanations Based on Agency Theory 5 2.1.2 Explanations Based on Window Dressing 6 2.1.3 Explanations Based on windows of opportunity 6 2.2 Measures of Operating Performance 6 Chapter III Methodology 9 3.1 Definitions of Measures 10 3.2 Data Description 11 3.4 Wilcoxon Signed-rank Test 13 3.4.1 Setup 14 3.4.2 Hypothesis 16 3.5 Dynamic Factor Analysis 17 Chapter IV Results 21 4.1 Wilcoxon Signed-rank Test 21 4.1.1 Descriptive Statistics 22 4.1.2 Results of Wilcoxon Signed-rank Test 24 4.2 Results of DFA 26 4.2.1 Motherboard 26 4.2.2 Semiconductor 29 4.2.5 Consumption Electron 36 4.2.6 Software Service 39 4.2.7 Communication 41 4.2.9 Network Modem 46 4.2.10 Pharmaceutical 48 4.3 Common Trend within Measures 50 4.3.1 Return on Assets 53 4.3.2 Gross Margin 54 4.3.3 Earnings before Tax Margin 55 Chapter V Conclusion 56 Appendix 61 | |
| dc.language.iso | en | |
| dc.title | 我國公司上市櫃前後績效之研究 | zh_TW |
| dc.title | Do IPO Firms in Taiwan Manipulate Their Operating Performance? | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 98-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 陳明賢,胡星陽 | |
| dc.subject.keyword | 績效表現,初次公開發行,動態因子分析, | zh_TW |
| dc.subject.keyword | Operating performance,IPO,manipulation,dynamic factor analysis, | en |
| dc.relation.page | 96 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2010-08-04 | |
| dc.contributor.author-college | 管理學院 | zh_TW |
| dc.contributor.author-dept | 國際企業學研究所 | zh_TW |
| 顯示於系所單位： | 國際企業學系 | |
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