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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 廖咸興 | |
| dc.contributor.author | Ya-Ting Chang | en |
| dc.contributor.author | 張雅婷 | zh_TW |
| dc.date.accessioned | 2021-06-15T11:11:17Z | - |
| dc.date.available | 2021-08-25 | |
| dc.date.copyright | 2016-08-25 | |
| dc.date.issued | 2016 | |
| dc.date.submitted | 2016-08-23 | |
| dc.identifier.citation | Antonio D. and Eliseo N., 2002, “Yield Spread and Term to Maturity: Default vs. Liquidity” European Financial Management, Vol. 8, No. 4, 2002, p.449– 477
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| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/48907 | - |
| dc.description.abstract | 本論文探討部門間相對風險差異與其所造成公司債利差/資產報酬率之影響的關係。採用Kruger, Landier, Thesmar(2015)計算方法去評估核心部門與非核心部門間的相對風險。研究實證結果顯示，部門間相對風險與公司債利差呈正相關，與資產報酬率呈負相關。意味著公司在評估專案時，若忽略部門間相對風險的差異而採用錯誤資金成本，將會損害債權人的價值及公司的營運績效。 | zh_TW |
| dc.description.abstract | This study examines the relationship between firms’ division relative risk and their bond yield spreads/return on assets. We employ the method developed in Kruger, Landier, Thesmar(2015) to evaluate the relative risk between core division and non-core division. The empirical results of the study show that division relative risk is positively correlated with bond yield spreads and negatively correlated with return on assets. The results suggest that firms ignoring division relative risk and evaluating projects with wrong capital costs will harm the value of their bondholders and operating performance. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-15T11:11:17Z (GMT). No. of bitstreams: 1 ntu-105-R03723064-1.pdf: 687987 bytes, checksum: 0e7891d9c52080a4a2d735042ad2ba16 (MD5) Previous issue date: 2016 | en |
| dc.description.tableofcontents | 誌謝………………………………………………………………………………….i
摘要………………………………………………………………………………….ii 英文摘要…………………………………………………………………………….iii 目錄………………………………………………………………………………….iv 表目錄……………………………………………………………………………….v 第一章、概述……………………………………………………………………….1 第二章、研究假說…………………………………………………………………5 2-1. 假說一、公司部門間資金成本差異度與公司債利差呈正相關………5 2-2. 假說二、公司部門間資金成本差異度與資產報酬率呈負相關………5 第三章、研究樣本與研究方法……………………………………………………6 3-1-1. 假說一被解釋變數：公司債利差……………………………………6 3-1-2. 假說二被解釋變數：資產報酬率(ROA)………………………………6 3-2. 主要解釋變數：Betaspread………………………………………………6 3-3. 債券特徵控制變數………………………………………………………8 3-4. 公司特徵控制變數…………………………………………………………9 第四章、研究結果與分析…………………………………………………………11 4-1.假說一、公司部門間資金成本差異度與公司債利差呈正相關………11 4-2.假說二、公司部門間資金成本差異度與資產報酬率呈負相關………12 第五章、結論…………………………………………………………………….…13 參考文獻…………………………………………………………………………….14 附錄…………………………………………………………………………….……18 | |
| dc.language.iso | zh-TW | |
| dc.subject | 資產報酬率 | zh_TW |
| dc.subject | WACC Fallacy | zh_TW |
| dc.subject | Betaspread | zh_TW |
| dc.subject | 多角化 | zh_TW |
| dc.subject | 公司債利差 | zh_TW |
| dc.subject | Betaspread | en |
| dc.subject | Return on Assets | en |
| dc.subject | Yield Spread | en |
| dc.subject | Diversification | en |
| dc.subject | WACC Fallacy | en |
| dc.title | 部門間風險差異對公司債利差與營運績效之影響 | zh_TW |
| dc.title | The Effect of Division Relative Risk on Corporate Bond Yield Spread and Operating Performance | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 104-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 陳彥行,陳宗岡 | |
| dc.subject.keyword | WACC Fallacy,Betaspread,多角化,公司債利差,資產報酬率, | zh_TW |
| dc.subject.keyword | WACC Fallacy,Betaspread,Diversification,Yield Spread,Return on Assets, | en |
| dc.relation.page | 24 | |
| dc.identifier.doi | 10.6342/NTU201602596 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2016-08-24 | |
| 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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