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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 何耕宇 | |
| dc.contributor.author | Huey-Jen Hou | en |
| dc.contributor.author | 侯慧貞 | zh_TW |
| dc.date.accessioned | 2021-06-15T06:45:46Z | - |
| dc.date.available | 2012-07-07 | |
| dc.date.copyright | 2011-07-07 | |
| dc.date.issued | 2011 | |
| dc.date.submitted | 2011-06-25 | |
| dc.identifier.citation | EFERENCE
Basel Committee, 2001, “Consultative Document: Operational Risk”. Basel Committee, 2010, “Consultative Document: Sound Practices for the Management and Supervision of Operational Risk”. Beasley, M.S., 1996, “An Empirical Investigation of Relation between Board of Director Composition and Financial Statement Fraud”, The Accounting Review, Vol.71, 443-460. Bebchuk, L., Cohen A., and Ferrell, A., 2004, “What Matters in Corporate Governance? ”, Working paper, Harvard Law School. Bhagat, S. and Black, B., 2002, “The Non-Correlation between Board Independence and Long Term Firm Performance”, Journal of Corporation Law, Vol.27, 231-274. Bhagat S. and Bolton, B., 2008, “Corporate Governance and Firm Performance”, Journal of Corporate Finance, Vol.14, 257-273. Bhagat, S., Brickley, J., and Coles, J., 1987, “Managerial Indemnification and Liability Insurance: The Effect on Shareholder Wealth”, Journal of Risk and Insurance, Vol.54, 721-736. Brickley, J.A., Coles, J.L., and Jarrell, G., 1997, “Leadership Structure: Separating the CEO and Chairman of the Board”, Journal of Corporate Finance, Vol.3, 189-220. Bushee, B.J. and Noe, C.F., 2000, “Corporate Disclosure Practices, Institutional Investors, and Stock Return Volatility”, Journal of Accounting Research, Vol.38, 171-202. Bushee, B., 1998, “The Influence of Institutional Investors on Myopic R&D Investment Behavior”, The Accounting Review, Vol.73, 305-333. Cummins, J.D., Lewis, C.M., and Wei, R., 2006, “The Market Value Impact of Operational Loss Events for US Banks and Insurers”, Journal of Banking & Finance , Vol.30, 2605-2634. El-Gazzar, S., 1998, “Predisclosure Information and Institutional Ownership: A Cross-Sectional Examination of Market Revaluations During Earning Announcement Periods”, The Accounting Review, Vol.73, 119-130. Fama, E.F. and Michael C. Jensen, 1983, “Separation of Ownership and Control”, Journal of Law and Economics, Vol.26, 301-325. Gillet, R., Hubner, G., and Plunus, S., 2010, “Operational risk and reputation in the financial industry”, Journal of Banking and Finance, Vol.34, 224-235. Gompers, P.A., Ishii, J.L., and Metrick, A., 2003, “Corporate Governance and Equity Prices”, Quarterly Journal of Economics, Vol.118, 107-155. Gompers, P.A. and Metrick, A., 1998, “How Are Large Institutions Different from Other Investors? Why Do These Differences Matter?”, Working Paper, Harvard Institute of Economic Research. MacKinlay, A.C., 1997, “Event Study in Economics and Finance”, Journal of Economic Literature, Vol. 35, 13-39. Perry J. and Patrick de Fontnouvelle, 2005, “Measuring Reputational Risk: The Market Reaction to Operational Loss Announcement”, Working Paper. Porter, M., 1992, “Capital Choices: Changing in Way America Invests in Industry”, Journal of Applied Corporate Finance, Vol.5, 4-16. Potter, G., 1992, “Accounting Earnings Announcements, Institutional Investor Concentration, and Common Stock Returns”, Journal of Accounting Research, Vol.30, 145-155. Sias R., 1996, “Volatility and Institutional Investor”, Financial Analyst Journal, March/April, 13-20. Uzun, H., Szewczyk S.H., and Varma, R., 2004, “Board Composition and Corporate Fraud”, Financial Analyst Journal, May/June, 33-43. Weir, C., Laing, D., and McKnight, P.J., 2002, “Internal and External Governance Mechanisms: Their Impact on the Performance of Large UK Public Companies”, Journal of Business Finance & Accounting, Vol.29, 579-611. | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/48080 | - |
| dc.description.abstract | 本文探討公司治理與作業損失宣告效果之關聯性。當公司宣告作業損失，負面的市場反應將導致該公司股價下跌。我們檢視美國市場在1994年至2009年期間，總共540個作業損失事件。實證結果顯示，內部公司治理制度會影響市場對損失宣告的反應，法人持有比例愈高，宣告效果愈小。同時，內部公司治理與市場反應之關聯性會隨著產業不同而異。相反地，外部公司治理制度並不影響作業損失之宣告效果。另一方面，我們發現對於內部詐欺導致的作業損失，市場反應之強弱不受公司治理制度影響。 | zh_TW |
| dc.description.abstract | his study examines the relationship between corporate governance and the announcement effect of operational loss. The occurrence of operational loss is associated with unsound corporate governance mechanism and influents firm’s stock price negatively. We study 540 operational events in US market during 1994 and 2009. The empirical results show that internal corporate governance mechanism affects market reaction on operational loss announcement. In general, there is a positive association between percentage of institutional holdings and market reaction. We also find that internal corporate governance factors have different influences among industries. Contrary to the importance of internal corporate governance, external governance mechanism is not a crucial determinant of operational loss announcement effect Furthermore, for those events caused by internal fraud, corporate governance seems irrelevant. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-15T06:45:46Z (GMT). No. of bitstreams: 1 ntu-100-R98723021-1.pdf: 269013 bytes, checksum: 9905f7a1817ac2b85d49a773560465ed (MD5) Previous issue date: 2011 | en |
| dc.description.tableofcontents | CONTENTS
口試委員會審定書 # 誌謝 i 中文摘要 ii ABSTRACT iii CONTENTS iv LIST OF TABLES vi Chapter 1 Introduction 1 Chapter 2 Previous Literature and Hypothesis 3 2.1 Previous Literature 3 2.1.1 Literature on Operational Loss 3 2.1.2 Literature on Corporate Governance 4 2.2 Hypothesis Development 7 Chapter 3 The Data and Methodology 9 3.1 Data and Sample Selection 9 3.1.1 Database 9 3.1.2 Sample Selection 10 3.1.3 Summary Statistics 12 3.2 Methodology 13 3.2.1 Event Study 13 3.2.2 Multi-variate Regression 15 Chapter 4 Empirical Results 16 4.1 Event Study Results 16 4.2 Multi-variate Regression Results 18 4.2.1 Whole Event Sample 18 4.2.2 Financial vs. Non-Financial 19 4.2.3 Internal Fraud vs. Non-Internal Fraud 21 Chapter 5 Conclusion 22 REFERENCE 25 | |
| dc.language.iso | en | |
| dc.subject | 市場反應 | zh_TW |
| dc.subject | 作業損失 | zh_TW |
| dc.subject | 公司治理 | zh_TW |
| dc.subject | Market reaction | en |
| dc.subject | Corporate governance | en |
| dc.subject | Operational loss | en |
| dc.title | 公司治理與作業風險宣告效果 | zh_TW |
| dc.title | Corporate Governance and the Market Reaction
on Operational Loss | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 99-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.coadvisor | 許瑋元 | |
| dc.contributor.oralexamcommittee | 石百達 | |
| dc.subject.keyword | 作業損失,公司治理,市場反應, | zh_TW |
| dc.subject.keyword | Operational loss,Corporate governance,Market reaction, | en |
| dc.relation.page | 40 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2011-06-27 | |
| 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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