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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 姜堯民 | |
| dc.contributor.author | Ting-Yun Wang | en |
| dc.contributor.author | 王亭云 | zh_TW |
| dc.date.accessioned | 2021-06-16T02:33:15Z | - |
| dc.date.available | 2018-07-31 | |
| dc.date.copyright | 2015-07-31 | |
| dc.date.issued | 2015 | |
| dc.date.submitted | 2015-07-28 | |
| dc.identifier.citation | 一、 中文部份：
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'Strategic IPOs and product market competition' Journal of Financial Economics, 45–67 22. John M. Friedlan. 'Accounting choices of issuers of initial public offerings' Cont. Account. Res 23. Kohers, N. (1999). 'The Industry-wide implications of dividend omission and initiation announcements and the determinants of information transfer' The Financial Review 34: 137-158 24. Korajczyk, Robert A., Deborah J. Lucas and Robert L. McDonald (1990). 'Equity Issues With Time-Varying Asymmetric Information' Journal of Financial and Quantitative Analysis 27(3): 397-418 25. Lang, L.H.P. and R.M. Stulz (1992). 'Contagion and Competitive Intra -Industry Effects of Bankruptcy Announcements' Journal of Financial Economics, Vol.32: 45-60 26. Lerner, Josh. 'The Syndication of Venture Capital Investments.' Financial Management 23 (autumn 1994): 16–27 27. Moskowitz, Tobias J. and Annette Vissing-J?rgensen (2002). 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(1986). 'Large Shareholders and Corporate Control' Journal of Political Economy 94 (3): 461-488 35. Stoughton, N. M. , Wong, K. P., Zechner, J. (2001). 'IPOs and Product Quality' The Journal of Business (Chicago) 74: 375-408 36. Szewczyk, S.H. (1992). 'The Intra-Industry Transfer of Information Inferred From Announcements of Corporate Security Offerings' The Journal of Finance , Vol.47: 1935-1945 37. Teoh, Siew Hong, Ivo Welch, and T.J. Wong. (1998). 'Earnings management and the underperformance of seasoned equity offerings' Journal of Financial Economics 50: 63–99 38. Welch, Ivo and Ritter, Jay R. (2002). 'A Review of IPO Activity, Pricing and Allocations' Yale ICF Working Paper No. 02-01 39. Welch, I., (1989) 'Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings' Journal of Finance 44: 421-449 40. Yakov Amihud and Haim Mendelson (1986). 'Asset pricing and the bid-ask spread' Journal of Financial Economics 17: 223-249 | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/53913 | - |
| dc.description.abstract | 本研究主要係以產業效果的觀點，來研究初次公開上市事件對產業的影響，本文以2005年至2013年在台灣初次公開上市（Initial Public Offering, IPO）的公司之同業未上市競爭公司為樣本，透過T檢定以及複迴歸模型來驗證上市事件產生的蔓延效果及競爭效果。研究結果發現，對整體樣本而言，初次公開上市事件確實會影響其同業未上市競爭公司之營運績效，對營收成長率與營業利益成長率為顯著負相關，顯示所產生的負面競爭效果大於正面的蔓延效果。其次，本文研究發現事件與其非上市同業競爭公司之資本支出成長率為顯著正相關，顯示透過蔓延效果傳遞此產業的樂觀前景，同業競爭公司在接受訊息後便會增加其資本支出以因應產業環境之變化。最後本文研究發現，同業內的上市事件會顯著縮短其同業未上市競爭公司之上市時程，顯示當同產業有公司初次公開上市時，同產業之其它公司也會受到影響而加速上市時間。 | zh_TW |
| dc.description.abstract | This study analyzes the effect of initial public offerings (IPOs) on unlisted competitors in the same industry. The sample is composed of IPOs and their industry rivals in Taiwan from 2005 to 2013. We use the T-test and multiple regression method to examine the competition effect and contagion effect of IPOs on operating performance of the unlisted rivals, and the result shows that rivals experience negative sales growth and operating income growth reactions to completed IPOs in their industries, as the competition effect has more influence power than contagion effect. Next, we examine the influence on capital expenditure, and the result shows that rivals significantly increases its capital expenditure, which represents the power of contagion effect. Finally, we examine whether the IPOs will give the unlisted rival motive to accelerate the time of going public. The results also shows that the unlisted companies in the same industry has significantly shorter period to go public. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-16T02:33:15Z (GMT). No. of bitstreams: 1 ntu-104-R02723046-1.pdf: 588360 bytes, checksum: 7af236b0ae45851bd5105476a95bc6fc (MD5) Previous issue date: 2015 | en |
| dc.description.tableofcontents | 目 錄
口試委員會審定書…………..………………..…...……………………. i 誌謝…………………………….………………..………………............ ii 中文摘要……………..…………….…………..……………………….. i ii 英文摘要……………………………………………...………………….. iv 第一章 緒論…………………………………….…..………….….….. 1 第一節 研究背景與動機………………………..……..………… 1 第二節 研究目的……………………………..…..……………… 3 第三節 研究架構與研究流程……………..……..……………… 3 第二章 文獻探討………………………………..…….....…………… 4 第一節 產業組織理論與公司上市策略之競爭優勢….......……. 4 第二節 初次公開上市之產業效果…………………..….………. 6 第三節 熱季發行（Hot Issue）效應………………….…...………. 9 第四節 研究假說…………………………………………………. 10 第三章 研究方法…………………..……………….…………...…….. 12 第一節 樣本選取與資料來……………………..…………..….… 12 第二節 實證研究方法與變數定義………………………………. 13 第四章 實證結果分析……………………….…………………….….. 17 第一節 樣本資料與特性……………………………………….… 17 第二節 產業效果之複迴歸分析…………………………….....… 21 第三節 樣本上市時程之複迴歸分析………………………….… 30 第五章 結論與建議………………………………………………….... 35 參考文獻……………………………………………………….………... 37 | |
| dc.language.iso | zh-TW | |
| dc.subject | 蔓延效果 | zh_TW |
| dc.subject | 產業效果 | zh_TW |
| dc.subject | 初次公開上市 | zh_TW |
| dc.subject | 競爭效果 | zh_TW |
| dc.subject | 非上市公司 | zh_TW |
| dc.subject | Industry Effect | en |
| dc.subject | Contagion Effect | en |
| dc.subject | Competition Effect | en |
| dc.subject | Unlisted companies | en |
| dc.subject | Initial Public Offering | en |
| dc.title | 初次公開上市對其未上市競爭公司之影響 | zh_TW |
| dc.title | Industry Effect to Unlisted Companies of Initial Public Offerings | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 103-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 張邦茹,黃柏凱 | |
| dc.subject.keyword | 初次公開上市,非上市公司,產業效果,競爭效果,蔓延效果, | zh_TW |
| dc.subject.keyword | Initial Public Offering,Unlisted companies,Industry Effect,Competition Effect, Contagion Effect, | en |
| dc.relation.page | 40 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2015-07-28 | |
| 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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