Please use this identifier to cite or link to this item:
https://ah.lib.nccu.edu.tw/handle/140.119/76249| DC Field | Value | Language |
|---|---|---|
| dc.contributor.advisor | 林靖<br>何靜嫺 | zh_TW |
| dc.contributor.author | 郭馨檥 | zh_TW |
| dc.creator | 郭馨檥 | zh_TW |
| dc.date | 2014 | en_US |
| dc.date.accessioned | 2015-07-01T07:00:15Z | - |
| dc.date.available | 2015-07-01T07:00:15Z | - |
| dc.date.issued | 2015-07-01T07:00:15Z | - |
| dc.identifier | G0102258032 | en_US |
| dc.identifier.uri | http://nccur.lib.nccu.edu.tw/handle/140.119/76249 | - |
| dc.description | 碩士 | zh_TW |
| dc.description | 國立政治大學 | zh_TW |
| dc.description | 經濟學系 | zh_TW |
| dc.description | 102258032 | zh_TW |
| dc.description | 103 | zh_TW |
| dc.description.abstract | 目前國內外撤資的企業分割研究中，大部分是針對企業宣告分割及實際分割之後，觀察其經營績效或研究是否存在累積異常報酬，完全沒有針對『取得資金的成本面(資金成本)』的相關研究，因此，本研究決定首次以撤資的企業分割為背景，去探討台灣2001~2014年之間企業的資本成本的變動及相關性。透過資本成本中三個主要概念(企業融資及企業投資決策、一般投資者對企業的投資決策、企業經營獲利)來進行解釋。本研究針對三項議題的具體結論如下：\r\n第一、研究母公司在分割後，公司負債比例下降與否影響資本成本。根據本研究的結果證明，公司「負債比例下降者」的資本成本會比「負債比例相同或上升」的資本成本低，因此，當母公司希望降低內部的資本成本時，可以讓公司的負債比例下降，來達到降低公司向銀行或投資者的借貸成本。第二、研究母公司在分割後，資本成本在分割前後的變化。根據本研究的結果證明，資本成本在分割之後會上升，因此，若公司想藉由分割部門來降低公司內部的資本成本或融資成本，分割部門並不是一項恰當的策略。第三、研究以資產分割(Spin-offs)方式分割部門的母公司，資本成本在分割前後的變化。根據本研究的結果證明，部分研究結果為顯著的正相關( 、 )，但部分的結果卻為顯著的負相關( )，在不同資本成本的應用之下，有了完全相反的結果。 | zh_TW |
| dc.description.tableofcontents | 謝辭 i\r\n摘要 ii\r\n目錄 iii\r\n表目錄 iv\r\n圖目錄 v\r\n1. 緒論 1\r\n1.1 研究動機 1\r\n1.2 研究目的 2\r\n1.3 研究流程與架構 4\r\n2. 文獻回顧 5\r\n2.1 分割模式 5\r\n2.2 分割的共同原因 7\r\n2.3 分割的個別原因 9\r\n2.4 資本成本的探討 11\r\n3. 研究假說 14\r\n4. 實證研究 18\r\n4.1 樣本研究期間與資料來源 18\r\n4.2 變數定義 25\r\n4.3 實證模型 34\r\n4.4 實證結果 35\r\n4.5 穩健性檢定 43\r\n5 結論 48\r\n5.1 研究結論 48\r\n5.2 研究限制 52\r\n參考文獻 53 | zh_TW |
| dc.source.uri | http://thesis.lib.nccu.edu.tw/record/#G0102258032 | en_US |
| dc.subject | 企業分割 | zh_TW |
| dc.subject | 資本成本 | zh_TW |
| dc.subject | Corporate Divestitures | en_US |
| dc.subject | Capital Cost | en_US |
| dc.title | 企業分割對資本成本之影響性分析 | zh_TW |
| dc.title | The Impacts of Corporate Divestitures on Capital Cost | en_US |
| dc.type | thesis | en |
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| item.fulltext | With Fulltext | - |
| item.cerifentitytype | Publications | - |
| item.openairetype | thesis | - |
| item.openairecristype | http://purl.org/coar/resource_type/c_46ec | - |
| item.grantfulltext | open | - |
| Appears in Collections: | 學位論文 | |
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