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  1. NTU Theses and Dissertations Repository
  2. 管理學院
  3. 財務金融學系
請用此 Handle URI 來引用此文件: http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/87851
完整後設資料紀錄
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dc.contributor.advisor林姿婷zh_TW
dc.contributor.advisorTzu-Ting Linen
dc.contributor.author羅友良zh_TW
dc.contributor.authorYu-Liang Luoen
dc.date.accessioned2023-07-24T16:05:32Z-
dc.date.available2023-11-10-
dc.date.copyright2023-07-24-
dc.date.issued2023-
dc.date.submitted2023-06-13-
dc.identifier.citationAbreu, J.F., & Gulamhussen, M.A. (2013). Dividend payouts: Evidence from U.S. bank holding companies in the context of the financial crisis. Journal of Corporate Finance, 22: 54-65.
Agyei, S.K., & Marfo-Yiadom, E. (2011). Dividend policy and bank performance in Ghana. International Journal of Economics and Finance, 3(4), 202-207.
Allen, F., Michaely, R. (2003). Payout Policy. Handbook of the Economics of Finance.
Al-Malkawi, H.N. (2008). Factors Influencing Corporate Dividend Decision: Evidence from Jordanian Panel Data, International Journal of Business, 13 (2), pp. 177-195.
Al-Najjar, B., & Hussainey, K. (2009). The association between dividend payout and outside directorships. Journal of Applied Accounting Research, Vol. 10 No. 1, pp. 4-19
Al-Najjar, B., & Kilincarslan, E. (2019). What do we know about the dividend puzzle? –A literature survey. International Journal of Managerial Finance, 151,205-235.
Al Shabibi, B.K., & Ramesh, G. (2011). An empirical study on the determinants of dividend policy in the UK. International Research Journal of Finance and Economics, 80: 105-120.
Baker, H.K., & E. Theodore, V., & Gary, E.P. (2001). Factors Influencing Dividend Policy Decisions of Nasdaq Firms. The Financial Review 38: 19-37.
Baker, H.K., Powell, G.E. and Veit, E.T. (2002). Revisiting the dividend puzzle: do all the pieces now fit. Review of Financial Economics, Vol. 11 No. 4, pp. 241-261.
Basse, T., Reddemann, S., Riegler, J., & Schulenburg, J.M.G. (2014). Bank dividend policy and the global financial crisis: empirical evidence from Europe. European Journal of Political Economy, 34: S25-S31.
Basse, T. (2019). The impact of the financial crisis on the dividend policy of the European insurance industry: additional empirical evidence. Zeitschrift für die gesamte Versicherungswissenschaft, 108(1): 3-17
Bhattacharya, S. (1979). Imperfect information, dividend policy, and the ‘bird-in-hand’ fallacy. Bell Journal of Economics, 10(1): 259-270.
Brawn, Derek A., & Aleksandar Š. (2018). Firm size matters: Industry sector, firm age and volatility do too in determining which publicly-listed US firms pay a dividend. International Review of Financial Analysis 58: 132-52.
Denis, D.J., & Osobov, I. (2008). Why do firms pay dividends? International evidence on the determinants of dividend policy. Journal of Finance Economics 89: 62-82.
Dickens, R.N., Casey, K.M., & Newman, J.A. (2002). Bank dividend policy: explanatory factors. Quarterly Journal of Business and Economics, Vol. 41 Nos 1-2, pp. 3-13.
Forti, C., & Schiozer, R.F. (2015). Bank dividends and signaling to information-sensitive depositors. Journal of Bank and Finance, 56, 1-11.
Gill, A., Biger, N., & Tibrewala, R. (2010). Determinants of dividend payout ratios: Evidence from United States. The Open Business Journal, 3(1): 8-14.
Gordon, M.J. (1962). The investment valuation and financing of the corporation. Homewood, IL: Richard D. Irwin.
Gordon, M.J. (1963). Optimal investment and financing policy. The Journal of Finance, 18(2), 264-272.
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Juma'h, A.H., & Pacheco, O.J. (2008). The financial factors influencing cash dividend policy: A sample of U.S. manufacturing companies. Inter Metro Business Journal, 4(2): 23-43.
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Khan, K. I., Aamir, M., Qayyum, A., Nasir, A., & Khan, M. I. (2011). Can Dividend Decisions Affect the Stock Prices: A Case of Dividend Paying Companies of KSE. Journal of Finance and Economics, 76, 67-74.
Kinfe, T. (2011). Determinants of dividend payout: An empirical study on bank industry in Ethiopia. Doctoral Dissertation, Addis Ababa University.
Koussis, N., & Makrominas, M. (2019). What factors determine dividend smoothing by US and EU banks? Journal of Business Finance Accounting 46: 1030-1059.
Lee, S.W. (2009). Determinants of dividend policy in Korean banking industry. Banks and Bank Systems, 4: 67-71.
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Nuredin, M. (2012). Determinants of Dividend Policy of Insurance Companies in Ethiopia, A Thesis Submitted to Addis Ababa University, Ethiopia.
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Pinto, G., & Rastogi, S. (2019). Sectoral Analysis of Factors Influencing Dividend Policy: Case of an Emerging Financial Market. Journal of Risk and Financial Management, 12(3): 110.
Reddemann, S., Basse, T., & Schulenburg, J.-M., v.d. (2010). On the impact of the financial crisis on the dividend policy of the European insurance industry. Geneva Paper on Risk and Insurance, Issues Practice 35: 53-62.
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Tripathy, N., Da, W., & Yi, Z. (2021). Dividends and Financial Health: Evidence from U.S. Bank Holding Companies. Journal of Corporate Finance 66: 101808.
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dc.identifier.urihttp://tdr.lib.ntu.edu.tw/jspui/handle/123456789/87851-
dc.description.abstract本研究探討產險公司股利之財務決定性因素,以美國上市產險公司作為研究對象,分析公司財務指標,包含獲利能力、公司規模、流動性、槓桿程度、營收成長率、落後一期股利,對於股利發放的影響。本研究採用Compustat財務資料庫,研究期間為2010年至2021年,共12年的樣本追蹤資料 (Panel Data)。實證結果發現,在公司固定效果(Firm-fixed Effect)模型中,獲利能力、公司規模、流動性、落後一期股利對美國上市產險公司所發放的股利額度具有顯著正向影響,惟槓桿比率、營收成長率對股利並無顯著影響。zh_TW
dc.description.abstractThis study examined the financial determinants of insurance company dividends. The research objects were American listed property insurance companies in Compustat, and the research period was from 2010 to 2021, and the sample panel data covered 12 years. The study analyzed a range of financial index including profitability, size, liquidity, leverage, revenue growth and lag one-year dividends. The regression model analysis under firm-fixed effect showed that profitability, size, liquidity and lag one-year dividends have a significant positive effect on dividends. However, leverage and revenue growth have no significant relationship with dividends.en
dc.description.provenanceSubmitted by admin ntu (admin@lib.ntu.edu.tw) on 2023-07-24T16:05:31Z
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dc.description.provenanceMade available in DSpace on 2023-07-24T16:05:32Z (GMT). No. of bitstreams: 0en
dc.description.tableofcontents口試委員會審定書 i
誌謝 ii
摘要 iii
Abstract 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 2
第三節 研究架構 2
第二章 文獻探討 3
第一節 股利理論回顧 3
一、股利無關論 3
二、股利有關論 4
第二節 股利財務決定性因素文獻回顧 6
一、一般公司 6
二、銀行 9
三、保險公司 11
第三章 研究方法 14
第一節 資料來源與樣本選取 14
第二節 研究假說 14
第三節 研究方法與模型 16
第四節 變數定義與說明 17
第四章 實證結果與分析 18
第一節 敘述統計分析 18
第二節 相關係數 19
第三節 VIF共線性檢定 20
第四節 實證結果與分析 21
第五章 結論與建議 23
第一節 研究結論 23
第二節 研究建議 24
參考文獻 26
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dc.language.isozh_TW-
dc.subject股利zh_TW
dc.subject獲利能力zh_TW
dc.subject公司規模zh_TW
dc.subject槓桿程度zh_TW
dc.subject產險業zh_TW
dc.subjectFirm Sizeen
dc.subjectProfitabilityen
dc.subjectLeverageen
dc.subjectDividenden
dc.subjectProperty-Liability Insuranceen
dc.title股利之財務決定性因素研究:以美國上市產險公司為例zh_TW
dc.titleFinancial Determinants of Dividend Policy: Evidence from the U.S. Listed Property-Liability Insurance Companiesen
dc.typeThesis-
dc.date.schoolyear111-2-
dc.description.degree碩士-
dc.contributor.oralexamcommittee詹芳書;蔡英哲zh_TW
dc.contributor.oralexamcommitteeFang-Shu Chan;Ying-Che Tsaien
dc.subject.keyword股利,公司規模,獲利能力,槓桿程度,產險業,zh_TW
dc.subject.keywordDividend,Firm Size,Profitability,Leverage,Property-Liability Insurance,en
dc.relation.page31-
dc.identifier.doi10.6342/NTU202300999-
dc.rights.note未授權-
dc.date.accepted2023-06-14-
dc.contributor.author-college管理學院-
dc.contributor.author-dept財務金融學系-
顯示於系所單位:財務金融學系

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