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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 劉啟群(Chi-Chun Liu) | |
dc.contributor.author | Chia-Hua Lu | en |
dc.contributor.author | 呂佳樺 | zh_TW |
dc.date.accessioned | 2021-06-16T02:57:06Z | - |
dc.date.available | 2020-08-16 | |
dc.date.copyright | 2015-08-16 | |
dc.date.issued | 2015 | |
dc.date.submitted | 2015-07-07 | |
dc.identifier.citation | Reference
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dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/54441 | - |
dc.description.abstract | 從過去文獻中所繪製出的盈餘分佈圖,我們可以得知在靠近零時會有不連貫的情況出現,未達零但很靠近零的公司很少,而微微超過零的公司卻很多。本文即運用這兩組特別的樣本來探討股價與研發費用的關係,從中了解投資人如何看待這兩個特殊的群體。
本文研究發現投資人給予未達零但很靠近零的公司之研發支出較高的評價,他們比較看好這類公司的研發支出在未來的發展。而對於研發支出較密集的公司,投資人亦是給予未達零但很靠近零的公司之研發支出較高的評價。另外,本文的研究也指出使用年底股價或財報宣告三個月後之股價對結果沒有重大的影響,均支持本文之假說。 | zh_TW |
dc.description.abstract | Prior research has documented a discontinuity in earning distribution: too few firms report earnings just below zero and too many firms report earning just above. This paper examines the relations between stock price and research and development expenditure (R&D) using two specific samples, firms just missing and beating earnings targets. In my analysis, I alternatively define earnings targets as zero-earnings and last year’s earnings
The results indicate that investors price R&D more for firms just missing earning targets, as compared to firms just beating earning targets. For R&D-intensive firms, the result also provides the same finding. Using year-end stock price or the stock price of three months after financial statement releasing, the result supports the hypothesis all the same. | en |
dc.description.provenance | Made available in DSpace on 2021-06-16T02:57:06Z (GMT). No. of bitstreams: 1 ntu-104-R02722042-1.pdf: 2493566 bytes, checksum: 57d8e661672696bbfcd689c6482079c7 (MD5) Previous issue date: 2015 | en |
dc.description.tableofcontents | 摘要. i
Abstract ii Index iii List of Tables iv 1. Introduction 5 2. Literature and Hypothesis 7 2.1 R&D Expenditures and Firm Value 7 2.2 Discontinuity of Earning Distribution 8 2.3 Hypothesis Development 12 3. Research Design 13 3.1 Benchmark 13 3.2 Empirical Model 15 4. Data and Empirical Result 17 4.1 Data 17 4.2 Descriptive Statistics 18 4.3 Empirical Results and Analysis 19 4.4 Further Analysis 20 4.5 Sensitivity Analysis 21 4.6 Sensitivity Analysis for Book Value 22 5. Conclusion 22 Reference 34 | |
dc.language.iso | en | |
dc.title | 投資人如何評價接近盈餘標竿之公司的研發支出 | zh_TW |
dc.title | How Do Investors Price R&D Expenditures for Firms Just Missing and Beating Earnings Targets | en |
dc.type | Thesis | |
dc.date.schoolyear | 103-2 | |
dc.description.degree | 碩士 | |
dc.contributor.coadvisor | 尤琳蕙(Lin-Hui Yu) | |
dc.contributor.oralexamcommittee | 陳維慈(Wei-Tzu Chen),廖懿屏(Yi-Ping Liao) | |
dc.subject.keyword | 盈餘標竿,盈餘分佈,研發支出, | zh_TW |
dc.subject.keyword | Just missing earning targets,Just beating earning targets,Earning thresholds,Earning distribution,R&D expenditure, | en |
dc.relation.page | 36 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2015-07-07 | |
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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