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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 陳國泰 | |
dc.contributor.author | Szu-Shuan Lai | en |
dc.contributor.author | 賴思璇 | zh_TW |
dc.date.accessioned | 2021-06-16T23:55:26Z | - |
dc.date.available | 2012-08-17 | |
dc.date.copyright | 2012-08-17 | |
dc.date.issued | 2012 | |
dc.date.submitted | 2012-07-18 | |
dc.identifier.citation | 一、中文文獻
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dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/65637 | - |
dc.description.abstract | 對製造業而言,固定資產是企業持續成長與維持競爭力的基石,因此,取得或處分固定資產決策對製造業公司影響深遠,此外,該等重大事件之公告,亦可能使公司股價造成波動。本研究以民國95年至99年台灣製造業上市公司為樣本,探討公司取得或處分固定資產目的之公告是否給予投資人額外的資訊價值,以及不同取得或處分目的是否會導致公司未來營運及財務績效有所差異。
本研究之實證結果歸納如下: (1) 企業公告取得機器設備之目的為生產用途,證券市場會產生顯著正向累積異常報酬;若公告取得機器設備並非生產用途,或公告取得之固定資產為土地建築物,則證券市場未有顯著反應。 (2) 企業處分固定資產不論是為了改善盈餘,抑或僅為了充實營運資金,證券市場皆給予顯著正向股價反應。 (3) 企業取得機器設備、土地建築物之目的為生產用途,對未來營業收入成長率及稅前淨利成長率有顯著正向影響;取得目的為生產性以外之用途,則對與未來績效表現無明顯關聯。 (4) 企業處分固定資產不論是為了改善盈餘,抑或僅為了充實營運資金, 對未來營業收入成長率皆無顯著影響,而對取得當年稅前淨利成長率皆有顯著正向影響。 | zh_TW |
dc.description.abstract | Fixed assets are the fundamental of manufacturing. The decisions of acquirement or disposal about fixed assets create profound impact on manufacturing companies. Furthermore, the announcements of information also affect a corporation’s stock prices. This study uses Taiwanese manufacturing companies as sample and explores whether the purpose of acquirement or disposal conveys information content and results in future performance.
The results show that the announcements of acquiring productive equipment generate significant positive abnormal return; however, the results regarding the productive land, buildings or non-productive fixed assets are generally not significant. Second, firms disposing fixed assets have significant positive response to such announcements without respect to purpose. Third, productive fixed assets, including equipment, land and buildings increase the rate of sales growth and pre-tax net income growth, but non-productive fixed assets are nonsignificant associated with future performance. Finally, disposing fixed assets for any purpose does not impact on sales growth rate, but significantly affects pre-tax net income growth. | en |
dc.description.provenance | Made available in DSpace on 2021-06-16T23:55:26Z (GMT). No. of bitstreams: 1 ntu-101-R99722033-1.pdf: 1508681 bytes, checksum: 286b64e28777efebfa6e3af3b81df618 (MD5) Previous issue date: 2012 | en |
dc.description.tableofcontents | 目錄
謝辭 I 摘要 II Abstract III 表目錄 V 圖目錄 VII 第一章 緒論 1 第一節 研究動機與目的 1 第二節 研究架構 3 第二章 文獻探討與假說發展 5 第一節 資本支出與累積異常報酬之關聯 5 第二節 資本支出與公司績效表現之關聯 11 第三章 研究方法 18 第一節 實證模型及變數之定義與衡量 18 第二節 樣本選取 35 第四章 實證結果與分析 39 第一節 取得或處分固定資產與累積異常報酬之關聯 39 第二節 取得固定資產與營業收入成長率之關聯 56 第三節 取得固定資產與稅前淨利成長率之關聯 71 第四節 處分固定資產與營業收入成長率之關聯 86 第五節 處分固定資產與稅前淨利成長率之關聯 91 第五章 結論與建議 98 第一節 研究結論 98 第二節 研究限制 99 第三節 研究建議 100 參考文獻 102 | |
dc.language.iso | zh-TW | |
dc.title | 企業取得或處分固定資產對公司股價及未來績效之影響 | zh_TW |
dc.title | The Impact of Company Acquiring or Disposing Fixed Assets on Stock Price and Future Performance | en |
dc.type | Thesis | |
dc.date.schoolyear | 100-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 林世銘,黃美祝 | |
dc.subject.keyword | 固定資產,取得或處分固定資產之目的,資訊內涵, | zh_TW |
dc.subject.keyword | fixed assets,purpose of acquiring or disposing fixed assets,information content, | en |
dc.relation.page | 105 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2012-07-18 | |
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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