請用此 Handle URI 來引用此文件：
http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/73310完整後設資料紀錄
| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 陳彥行(Yan-Shing Chen) | |
| dc.contributor.author | Jou-Yu Liu | en |
| dc.contributor.author | 劉柔語 | zh_TW |
| dc.date.accessioned | 2021-06-17T07:27:45Z | - |
| dc.date.available | 2019-07-03 | |
| dc.date.copyright | 2019-07-03 | |
| dc.date.issued | 2019 | |
| dc.date.submitted | 2019-06-21 | |
| dc.identifier.citation | Amihud, Y., Lev, B., & Travlos, N. G. (1990). Corporate control and the choice of investment financing: The case of corporate acquisitions. Journal of Finance, 45(2), 603-616.
Bates, T. W., Kahle, K. M., & Stulz, R. M. (2009). Why do US firms hold so much more cash than they used to? Journal of Finance, 64(5), 1985-2021. Coval, J. D., & Moskowitz, T. J. (1999). Home bias at home: Local equity preference in domestic portfolios. Journal of Finance, 54(6), 2045-2073. Faccio, M., & Masulis, R. W. (2005). The choice of payment method in European mergers and acquisitions. Journal of Finance, 60(3), 1345-1388. French, K. R., & Poterba, J. M. (1991). Investor diversification and international equity markets (No. w3609). National Bureau of Economic Research. Grinblatt, M., & Keloharju, M. (2001). How distance, language, and culture influence stockholdings and trades. Journal of Finance, 56(3), 1053-1073. Hansen, Robert G., 1987, A theory for the choice of exchange medium in mergers and acquisitions, Journal of Business, 60, 75-95. Harris, M., & Raviv, A. (1988). Corporate control contests and capital structure. Journal of Financial Economics, 20, 55-86. Henry, P. B. (2000). Stock market liberalization, economic reform, and emerging market equity prices. The Journal of Finance, 55(2), 529-564. Hovakimian, A., Opler, T., & Titman, S. (2001). The debt-equity choice. Journal of Financial and Quantitative Analysis, 36(1), 1-24. Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. American Economic Review, 76(2), 323-329. Jung, K., Kim, Y. C., & Stulz, R. (1996). Timing, investment opportunities, managerial discretion, and the security issue decision. Journal of Financial Economics, 42(2), 159-185. Martin, Kenneth J., 1996, The method of payment in corporate acquisitions, investment opportunities, and management ownership, Journal of Finance, 51, 1227-1246. Myers, S. C., & Majluf, N. S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187-221. Stulz, R. (1988). Managerial control of voting rights: Financing policies and the market for corporate control. Journal of Financial Economics, 20, 25-54. Travlos, N. G. (1987). Corporate takeover bids, methods of payment, and bidding firms’ stock returns. Journal of Finance, 42(4), 943-963. 古永嘉，胡珮高，台灣企業併購付款方式之選擇，輔仁管理評論，中華民國97年9月，第十五卷第三期，97-126。 何佳，中國證券市場的開放和發展，二十一世紀評論，2007年4月號，11-17。 | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/73310 | - |
| dc.description.abstract | 本研究探討併購時企業選擇的支付方式影響因素，及其隨時間改變的原因。本研究涵蓋了台灣、美國、中國、日本、英國等五個國家，自1998~2017二十年的併購案，採用現金支付佔總支付金額比例做為應變數，分析近二十年現金支付比例的變化。研究結果發現，台灣、美國、日本的現金支付比例在近十年都有所增加，台灣和日本現金支付比例增加的主要原因都來自併購產業的改變，而美國現金支付比例增加則主要來自基準利率的下降；中國則因為資本市場結構的改變導致使用股權出資的比例增加。英國整體變化不大。 | zh_TW |
| dc.description.abstract | The purpose of this paper is to study the reason behind payment method of mergers and acquisitions, and the changes of payment method in 1998~2017. The sample includes mergers and acquisitions in Taiwan, the United States, China, Japan, and Britain. The results show that the ratio of cash payment is increasing in Taiwan, the U.S., and Japan. The reason for increasing cash payment ratio in Taiwan and Japan is mainly due to changes of the merger’s and acquisitions’ industry, while it is derived by the decreasing interest rate in the U.S. The decreasing cash payment ratio in China is possibly due to openness in capital market. The cash payment ratio has not changed a lot in Britain. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-17T07:27:45Z (GMT). No. of bitstreams: 1 ntu-108-R06723011-1.pdf: 2241820 bytes, checksum: 7921550bba23ff29107f89b40b84fe90 (MD5) Previous issue date: 2019 | en |
| dc.description.tableofcontents | 口試委員會審定書 i
誌謝 ii 中文摘要 iii ABSTRACT iv 目錄 v 表目錄 vi 圖目錄 vii 第一章 緒論 1 第二章 文獻討論 3 第三章 研究方法及樣本 6 第一節 樣本選取與資料來源 6 第二節 研究變數定義 6 第三節 實證模型設計 8 第四節 樣本敘述統計 10 第四章 實證結果分析 12 第一節 迴歸結果分析 12 第二節 現金支付比例變化量拆解 13 第五章 結論 17 參考文獻 18 | |
| dc.language.iso | zh-TW | |
| dc.subject | 支付方式 | zh_TW |
| dc.subject | 企業併購 | zh_TW |
| dc.subject | 利率 | zh_TW |
| dc.subject | 現金 | zh_TW |
| dc.subject | payment method | en |
| dc.subject | interest rate | en |
| dc.subject | cash | en |
| dc.subject | Mergers and acquisitions | en |
| dc.title | 企業併購支付方式的改變因素 | zh_TW |
| dc.title | Changes in the Method of Payment in Mergers and Acquisitions | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 107-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 陳一如,林智勇 | |
| dc.subject.keyword | 企業併購,支付方式,利率,現金, | zh_TW |
| dc.subject.keyword | Mergers and acquisitions,payment method,interest rate,cash, | en |
| dc.relation.page | 56 | |
| dc.identifier.doi | 10.6342/NTU201900979 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2019-06-21 | |
| 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 | |
文件中的檔案：
| 檔案 | 大小 | 格式 | |
|---|---|---|---|
| ntu-108-1.pdf 未授權公開取用 | 2.19 MB | Adobe PDF |
系統中的文件，除了特別指名其著作權條款之外，均受到著作權保護，並且保留所有的權利。