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Title: 內部資訊與公司董監和經營團隊變動之 關連研究---以IPO事件為例
The study of Inside Information on Company Board and Management Team Change – A case of IPO
Authors: 蔡昇諭
Contributors: 李文傑

Keywords: 內部資訊
Date: 2016
Issue Date: 2016-07-01 15:24:28 (UTC+8)
Abstract: 本研究透過各公司之自然人、創投、法人和國發基金董監事與經營團隊變動,探討四者之董監事與經營團隊在IPO之後是否因為內部資訊掌握差異,所造成的經營團隊結構改變。實證結果發現在IPO之後四者都有明顯的變動,故推斷依照基本特性推斷以下四個結果:(1)內部自然人的確有利用內部資訊進行IPO後拋開經營權之嫌;(2) 創投因為其本身就為獲利導向,故其是否利用內部資訊退場無法下定論,但可知道創投確實在IPO之後會在短時間內退場;(3) 企業法人因其介入目的大多為策略導向,故其雖亦會利用內部資訊,但並非以賺取不公平獲利為導向;(4) 國發基金身帶政策性目的和進出有其目標設定,故內部資訊之應用並非重點。還有,內部人之關係連結確實會增強內部資訊之流動。
Reference: 一、中文文獻書籍
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3.項柏維 (2015),《影響新創公司長期表現之因素-以教育網絡為例. 2015.》。
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