學術產出-Theses
Article View/Open
Publication Export
-
題名 負債契約與代理問題之研究 作者 黃德舜 貢獻者 李庸三<br>陳隆麒
黃德舜日期 1993 上傳時間 10-May-2016 18:52:13 (UTC+8) 摘要 論文提要 參考文獻 參考文獻一、中文部份[ 1] 于建新 雙元金融體系下利率自由化效果的研究 中興大學經濟學研究所碩士論文民國80 年1月[ 2 ] 王世一 台灣股票上市公司董監事持股成數與經營績效之實證一一動態與靜態 分析東吳大學會計學研究所碩士論文民國80年6月[ 3 ] 中央銀行經濟研究處編 金融統計月報民國8 1年1月[ 4] 中央銀行經濟研究處 中華民國台灣地區公民營企業資金狀況調查結果報告民國7 9年12月[ 5 ] 伍忠賢 貸款與債券契約條款 台灣經濟金融月刊 第28 卷第3期民國81 年3月[ 6] 李庸三 經濟計量方法 台北 民國68年8月[ 7] 李模 民法總則之.理論與實用 自印 民國78 年1 2 月修訂[ 8] 呂永正 由代理成本的觀點驗證台灣上市公司所有權變動與融資決策之關係東海大學企業管理研究所碩士論文民國77 年6月[ 9 ] 林維鵬 企業所有與經營分離一一台灣地區上市公司之實證研究中興大學企業管理研究所碩士論文民國7 9年6月[ 10] 林震岩 「終端使用者應用」管理策略之研究 政治大學企業管理研究所博士論文民國8 0年1月[11] 姜堯民 不對稱資訊下銀行放款契約訂定之研究 政治大學企業管理研究所碩士論文民國7 9年6月 [ 12 ] 俞海琴 資訊不對稱下本國銀行放款市場之研究 政治大學企業管理研究所博士論文民國8 1 年1 月[ 13 ] 財政部金融人員研究訓練中心編 銀行法令彙編 台北:財團法人金融人員研究訓練中心 民國80 年6 月[ 14 ] 陳隆麒 現代財務管理: 理論與應用 台北:華泰書局 民國8 1年2月[ 15 ] 黃英陶 代理問題對公司資本結構影響之研究 成功大學工業管理研究所碩士論文 民國77年6月[16 ] 黃榮吉 中小企業融資之研究 中國文化大學企業管理研究所碩士論文 民國8 0年6月[ 17 ] 黃明智 我國中小企業銀行經營行為之研究 台灣大學經濟學研究所碩士論文 民國7 2年7月[ 18 ] 黃俊英 行銷研究一一管理與技術 台北華泰書局 民國8 0年8月[19] 黃德舜 國際化企業長期融資決策之研究 產業金融民國7 8年12月[ 20] 張明峰 股權結構對公司績效影響之研究 政治大學企業管理研究所碩士論文民國80 年6月[ 21 ] 張訓華股權結構、董事會組成與企業當年財務績效一一一以77 年會計報酬率為準 東吳大學管理學研究所碩士論文 民國8 0年6月[ 22] 楊蕉霙 所有權結構與公司價值間關係之研究 中山大學企業管理研究所碩士論文 民國7 9年6月[ 23] 葉國興主編 銀行授信約定書之研究 台北:財團法人金融人員研究訓練中心 民國75年11月 [ 24] 經濟部中小企業處 中華民國台灣地區中小企業經濟活動報告民國79年[ 25 ] 戴淵明 公司控制型態與其經營績效關係之研究 中興大學企業管理研究所碩士論文民國 75 年6月[ 26] 謝安田 企業研究方法 台北:水牛出版社 民國69 年[ 27] 羅容恆 銀行在新環境中的新契機一一先進國家金融自由化之經驗 基層金磁 第22期民國8 0年3月二、英文部份[1] Agrawal, Anup. and Gershon N. Mandelker, " Managerial Incentives and Corporate Investment and Financial Decision," Journal of Finance No.4 September, 1987, pp.823～837.[2] Agrawal, Anup. and Nandu J. Nagarajan, "Corporate Capital "Structure, Agency Costs, and Ownership Control: The Case of All-Equity Firms." The Journal of Finance No.4 September, 1990, pp.1325～1331[3] Allen, Linda. "The Credit Rationing Phenomenon: A Survey of the Literature." Occasional Papers in Business and Finance, Salomon Brothers Center for the Study of Financial Institutions, Graduate school of Business Administration, New York University, 1987, No.7 pp.7～21[4] Altman, Edward 1. and Marti G. Subrahmanyam, Recent Advances In Corporate Finance. Illinois. Richard D. irwin, Inc.1985.[5] Altman, Edward I. "A Further Investigation of the Bankruptcy Cost Question." Journal of Finance 39 September 1984, pp.1067～1089[6]Aron, Debra J. "Ability, Moral Hazard, Firm size, and Diversification." Rand Journal of Economics No.1. spring 1988, pp.72～87[7] Barnea,Amir; Robert A. Haugen,; and Lemma W. Senbet, "A Rationale for Debt Maturity Structure and Call Provisions in the Agency Theoretic Framework." The Journal of Finance NO.5 December 1980, pp.1223～1233[8] Barnea, Amir. Robert A. Haugen, and Lemma W. Senbet, " Market Imperfections, Agency problems, and Capital Struture :A Review." Financial Management Summer 1981, pp.7～21[9] Barnea, Amir; Robert A. Haugen and Lemma W. Senbet Agency Problems and Financial Contracting. New Jersey: Prentice-Hall Inc. 1985[10] Baskin, Jonathan. "An Empirical Investigation of the Peking Oder Hypothesis." Financial Management spring 1989, pp.26～34.[11] Barton, Sidney. L. and Paul J. Gordon, "Corporate Strategy: Useful Perspective for the Study of Capital Structure?" Academy of Management Review NO.1 1987, pp.67～75[12] Berkovitch, Elazar and Stuart L. Greenbaum, "The Loan Commitment as an Optimal Financing Contract." Journal of Financial and Quantitative Analysis Vo1.26.NO.l March 1991,pp.83～95.[13] Berkovitch, Elazar and Han. Kim, "Financial Contracting and Leverage Induced Over-and Under-Investment Incentives." The Journal of Finance 3, July, 1990, pp.765～794.[14] Berle, A., and G. Means, The Modern Corporation and Private Property New york: Macmillan Inc. 1932.[15] Berlin,Mitchell. and Jan. Loeys, "Bond covenants and Delegated Monitoring." Journal of Finance NO.2 June 1988, pp.397～411.[16] Bester, Helmut. "The Role of Collateral in Credit Markets with Imperfect Information." European Economic Review 31, 1987, pp.887～899.[17] Boose, Mary Ann. "Agency Costs and Alternative Theories as they apply to the Management of Life Insurnance Companies." Unpublished Dissertation at the Washington University, 1988.[18] Boot, A.; A. V. Thakor, ; and G. Udell, "Competition, Risk Neutrality and Loan Commitments." Journal of Banking and Finance, 11, Sept. 1987 pp.449～471.[19] Bradley, Michael; Gregg. Jarrell, and E. Han. Kim, "On the Existence of an Optimal Capital Structure: Theory and Evidence." The Journal of Finance, 39, July 1984, pp.857～880[20] Campbell, Tim S. and William A. Kracaw, "Corporate Risk Management and the Incentive Effects of Debt". The Journal of Finance NO.5 December, 1990, pp.1673～1686.[21] Cheung, Steven N.S "The Contractual Nature of the Firm." Journal of Law & Economics April 1983, pp.1～21.[22] Constand, Richard Lanara. Revolving Asset-based Loans, Agency Theory and Capital Structure. Unpublished Dissertation at the Florida state University, 1989.[23] Crutchley, Claire E. and Robert S. Hansen, "A Test of the Agency Theory of Managerial Ownership, Corporate Leverage, and Corporate Dividends." Financial Management winter 1989, pp.36～45.[24] Diamond, Douglas W. "Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt." Journal of Political Economy, NO 4. 1991, pp.689～721.[25] Diamond, Douglas W. "Reputation Acquisition in Debt Markets, " Journal of Political Economy 97, 1989, pp.828～862.[26] Dobbins, Richard. and Stephen F. Witt, Practical Financial Management New York : Basil Blackwell Inc. 1988.[27] Draper, Dennis W. and James W. Hoag, "Financial Intermediation and the Theory of Agency." Journal of Financial and Quantitative Analysis November, 1978, pp.595～611.[28] Eckbo, B. Espen "Valuation Effects of Corporate Debt Offerings." Journal of Financial Economics - 15, 1986, pp.119～151[29] Eisenhardt, Kathleen M. "Agency Theory: An Assessment and Review." Academy of Management Review, Vo1.14 NO.1 1989, pp.57～74.[30] Fama, Eugene F. and Michael C. Jensen, "Agency Problems and Residual Claims." Journal of Law & Economics Vol. XXVI June 1983, pp.327～349[31] Fama, Eugene F. "What`s Different about Banks?" Journal of Monetary Economics 15, 1985, pp.29～39.[32] Fama, Eugene F. and Michael C. Jensen, "Organizational Forms and Investment Decisions." Journal of Financial Economics 14, 1985, pp.112～113.[33] Fama, Eugene F. "Contract Costs and Financing Decisions." Journal of Business VOL.63 No.1 1990, pp.71～91.[34] Fama, Eugene F. "Agency Problems and Theory of the Firm." Journal of Political Economy Vo1.88. NO.2 1980, pp.288～306。[35] Francis, Jennifer. "Corporate Compliance with Debt Covenants." Journal of Accounting Research NO.2 Autumn, 1990, pp.326～347.[36] Fried, Joel. and Peter. Howitt, "Credit Rationing and Implicit Contract Theory." Journal of Money, credit and Banking.12(3), August, 1980, pp.471～486.[37] Friend, Irwin. and Larry H. P. Lang, "An Empirical Test of the Impact of Managerial Self-Interest on Corporate Capital Structure." The Journal of Finance NO.2 June 1988, pp.271～281.[38] Gale, Douglas. and Martin. Hellwig, "Incentive-Compatible Debt Contracts: The One-Period Problem." Review of Economic Studies, 1985, pp.647～663.[39] Gavish, Bezalel and Avner. Kalay, "on the Asset Substitution Problem." Journal of Financial and Quantitative Analysis 18, 1983, pp.21～30.[40] Green, Richard C. and Eli. Talmor, "Asset Substitution and the Agency Costs of Debt Financing." Journal of Banking and Finance 10, 1986, pp.391～399.[41] Guesneric, Roger; Picerre Piard, and Patrik Rey "Adverse Selection and Moral Hazard with Risk Neutral Agents." European Economic Review 33 1988, pp.807～823.[42] Guffey, Daryl M. and William T. Moore, "Direct Bankruptcy Costs: Evidence from the Trucking Industry." The Financial Review NO.2 May 1991, pp.223～235.[43] Gupta, Atul. and Rosenthal Leonard, "Ownership structure, Leverage, and Firm Value: The Case of Leveraged Recapitalizations." Financial Management Autumn, 1991 pp.69～82.[44] Hansen, Robert S. and Claire Crutchley, " Corporate Earnings and Financings: An Empirical Analysis." Journal of Business Vol. 63. NO.3 1990, pp.347～371[45] Harris, Milton. and Artur Raviv, "Corporate Control Contests and Capital Structure." Journal of Financial Economics 20, 1988, pp.S5～86[46] Harris, Milton. and Artur Raviv, "The Theory of Capital Structure." The Journal of Finance NO.1 March 1991, pp.297～355.[47] Haugen, Robert A. and Lemma W. Senbet, "The Insignificance of Bankruptcy Costs to the Theory of Optimal Capital Structure." The Journal of Finance May, 1978 pp.383～393[48] Haugen, Robert A. and Lemma W. Senbet, "New Perspectives on Informational Asymmetry and Agency Relationships." Journal of Financial and Quantitative Analysis NO.4, November 1979, pp.671～693[49] Haugen, Robert A. and Lemma W. Senbet, "Bankruptcy and Agency Costs: Their Significance to the Theory of Optimal Capital Structure." Journal of Financial and Quantitative Analysis NO.1. March 1988, pp.27～38[50] Haugen, Robert A. and Lemma W. Senbet "Resolving the Agency Problems of External Capital Through Options." Journal of Finance 36, 1991, pp.629～647.[51] Holderness, Clifford G. and Dennis P. Sheehan, "The Role of Majority Shareholders in Publicly Held Corporations." Journal of Financial Economics 20, 1988, pp.317～ 346[52] Holmstrom, Bengt. "Moral Hazard and Observability". The Bell Journal of Economics, 1979, pp.74～91.[53] Howkins, Gregory. "An Analysis of Revolving Credit Agreements." Journal of Financial Economics 10 March 1982, pp.59～81[54] 19awa, Kazuhiro. and George. Kanatas, "Asymmetric Information, Collateral, and Moral Hazard." Journal of Financial and Quantitative Analysis NO.4 December 1990, pp.469～490[55] James, C. "Some Evidence on the Uniqueness of Bank Loans." Journal of Financial Economics 19 1987, pp.217～235[56] Jensen, Michael C. and William H. Meckling, "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure." Journal of Financial Economics 3 1976 pp.305～360.[57] Jensen, Michael C. and Clifford W. Smith, Jr. The Modern Theory of Corporate Finance New York: McGraw-Hill Book Company 1986[58] Jensen, Michael C. and Jerold B. Warner, "The Distribution of Power among Corporate Managers, Shareholders, and Directors." Journal of financial Economics 20, 1988, pp.4～5[59] John, K. "Risk-Shifting Incentives and Signalling Through Corporate Capital Structure." Journal of Finance 42, July 1987, pp.623～644.[60] Jose, Fillipe Garcia Correia Guedes An Investigation of Corporate Borrowing Strategies. Unpublished Dissertation at the Ohio State University, 1990.[61] Joy, Begley. The Use of Debt Covenants to Control Agency Problems. Unpublished Dissertation at the University of Rochester, 1991.[62] Kalay, A. "Stockholder-Bondholder Conflict and Dividend Constraints." Journal of Financial Economics 10, 1982, pp.211～233.[63] Kanatas, G. "Commercial Paper, Bank Reserve Requirements and the Informational Role of Loan Commitments." Journal of Banking and Finance, 11, Sept. 1987, pp.25～448.[64] Kane, Edward J. "Principal-Agent Problems in S & L Salvage. " The Journal of Finance NO.3 July 1990, pp.755～764.[65] Kim, Moshe. and Vojislav Maksimovic, "Debt and Input Misallocation," The Journal of Finance NO.3 July 1990, pp.795～816.[66] Kim, W. Saeng. and Evric H. Sorensen, "Evidence on the Impact of the Agency Costs of Debt on Corporate Debt Policy," Journal of Financial and Quantitative Analysis Vo1.21 No.2 June 1986, pp.131～142.[67] Kwon, Young -June Analysis of the Principal-Agent Relationships. Unpublished Dissertation at the University of Pennsylvania, 1986.[68] Lambert, Richard A. "Long-Term Contracts and Moral Hazard." The Bell Journal of Economics 14:2 Autumn 1983, pp.441～452.[69] Levy, Haim. and Marshall Sarnat, Principles of Financial Management N.J. Englewood cliffs: Prentice Hall 1988.[70] Lloyed, william P.; John S. Jahera, Jr.; and Steven J. Goldsteir, "The Relation Between Returns, Owneship Structure and Market Value," Journal of Financial Researh No.2 Summer 1986, pp.171～177.[71] Marshall, John M. "Moral Hazard," The American Economic Review December 1976, pp.880～890.[72] Mcafee, R. Preston. and John. Mcmillan, "Bidding for Contracts: a Principal-Agent Analysis." Rand Journal of Economics NO.3 Autumn, 1986, pp.326～338.[73] McDonald, James Emry. Asymmetric Information: The Case of Bank Loan Commitments Unpublished Dissertation at the Louisiana Tech University, 1988.[74] Melnik, Arie. and Steven E. Plaut, "Loan Commitment Contracts, Terms of Lending and Credit Allocation." The Journal of Finance Vo1.xll, No2, June 1986, pp.425～435.[75] Melnik, Arie. and Steven E. Plaut, "Interest Rate Indexation and the Pricing of Loan Commitment Contracts." Journal of Banking and Finance 11, 1987, pp.137～145.[76] Miller, Merton H. "Credit Risk and Credit Rationing: Further Comment." Quarterly Journal of Economics 76 August 1962, pp.480～488.[77] Moore, Robert R. Financial Contracting and Asymmetric In- formation. Unpublished Dissertation at the University of Wisocnsin-Madison, 1987.[78] Morek, Randall.; Andrei. Shleifer, ; and Robert W. Vishny, " Management Ownership and Market Valuation." Journal of Financial Economics 20, 1988, pp.293～315.[79] Morris, James R. "On Corporate Debt Maturity Strategies." The Journal of Finance Vo 1.XXXI, No.1 March 1976, pp.29～37.[80] Moyer, R. Charles.; Robert E. Chatfield, ; and Phillip M. Sisneros, "Security Analyst Monitoring Activity: Agency Costs and Information Demands." Journal of Financial and Quantitative Analysis NO.4 December 1989, pp.503～512.[81] Murali, Ramaswarni and Johnathan B., Welch, "Agents , Qwners, Control and Performance." Journal of Business Finance & Accounting Summer 1989, pp.385～398.[82] Myers, Stewart C. "Determinants of Corporate Borrowing." Journal of Financial Economics 50, 1977, pp.147～175.[83] Naraganan, M.P. "Debt Versus Equity under Asymmetric In- formation." Journal of Financial and Quantitative Analysis VOL.23 No .1 March 1988, pp.39～50.[84] Niehaus, Gregory R. "Ownership Structure and Inventory Method Choice." The Accounting Review No.2 April, 1989, pp.269～284.[85] Noronha, Gregory Mario. Industry Characteristics, Agency Theory, and the Interaction of Capital Structure and Dividend Policy. Unpublished Dissertation at the Virginia Polytechnic Institute and State University, 1990.[86] Orgler, Yair E. and Robert A. Taggart, Jr. "Implications of Corporate Capital Structure Theory for Banking Institutions." Journal of Money Credit and Banking No.2 May 1983, pp.212～221[87] Pechenino, R. A. "The Loan Contract: Mechanism of Finanial Control." The Economic Journal March 1988, pp.126～137.[88] Pinegar, J.Michael. and Lisa. Wilbricht, "What Managers Think of Capital Structure Theory: A Survey." Financial Management Winter 1989, pp.82 ～91[89] Ramakrishanan, R.T.S and A.V. Thakor "Moral Hazard, Agency Costs and Asset Prices in a Competitive Equilibrium." Journal of Financial and Quantitative Analysis 17:4 Nov. 1982, pp.503～532[90] Rasmusen, Eric. Games and Information Oxford: Basil Blackwell LTD, 1989.[91] Rees, Ray. "The Theory of Principal and Agent: part 2."Bulletin of Economic Research 37:2 1985, pp.75～94.[92] Rees, Ray "The Theory of Principal and Agent: Part I." Bulletin of Economic Research 37:1 1985, pp.3～26[93] RosenBerg, Sidney Berk. The Agency Cost of Property Management Contracts : An Empirical Examination. Unpublished Dissertation at the Georgia state University, 1989.[94] Ross, S.A. "The Economic Theory of Agency: The Principal`s Problem." American Economic Association Vol. 63, No.2, May 1973, pp.134～139.[95] Scott, D. and J. Martin, "Industry Influence of Financial Structure." Financial Management Vol.4 Spring 1975, pp.67～73.[96] Smith, Jr. Clifford W. "On the Theory of Financial Contracting Journal of Monetary Economics 6, 1980, pp.333～357.[97] Smith, C.W. and L.M. Wakeman, "Determinants of Corporate Leasing Policy." Journal of Finance 40, 1985, pp.895～908.[98] Smith C. W. and J. B. Warner, "On Financial Contracting –An Analysis of Bond Covenant." Journal of Financial Economics 7 1979, pp.117-161.[99] Stern, Joel M. and Donald H. Chew Jr . The Revolution in Corporate Finance, Oxford: Basil Blackwell LTD. 1986.[100] Stiglitz, Joseph E. "Credit Markets and the Control of Capital." Journal of Money, Credit and Banking Vol. 17. No.2 May 1985, pp.133～152[101] Stiglitz, J. E. and A, Weiss, "Incentive Effects of Terminations: Applications to the Credit and Labor Markets." American Economic Review 73, 1983, pp.912～927.[102] Stiglitz, J. E. and A. Weiss, "Credit Rationing 10 Markets with Imperfect Information." American Economic Review 71, 1981, pp.393～410[103]Stulz, R.M. and H. Johnson, "An Analysis of Secured Debt." Journal of Financial Economics 14, 1985, pp.501～522.[104]Thakor, A. V. "Toward a Theory of Bank Loan Commitments." Journal of Banking and Finance, 6 March. 1982, pp.55～83.[105]Thakor, Anjan V. "Strategic Issues in Financial Contracting: An Overview." Financial Management Summer. 1989, pp.39～59[106] Thatcher, Janet S. "The Choice of Call Provision Terms: Evidence of the Existence of Agency Costs of Debt." The Journal of Finance No .2, June 1985, pp.549～561.[107]Townsend, Robert. "Optimal Com tracts and Competitive Markets with Costly State Verification." Journal of Economic Theory, XXI 1979, pp.265～293.[108] Udell, Gregory F. "Loan Quality, Commercial Loan Review and Loan Officer Contracting." Journal of Banking and Finance 13,1989, pp.367～382.[109] Vale, Philip A. Financial Management Handbook England:Gower Publishing Company Limited 1988.[110] Venkataraman, Subramanyam. Multiperiod Agency problems and Financial Contracting. Unpublished Dissertation at the University of Wisconsin- Madison, 1988.[111] Walker, Ernest W. and William II. Petty, J. "Financial Differences Between Large and Small Firms." Financial Managment Winter 1978, pp.61～68.[112] Warner, Jerold B. "Bankruptcy Costs: Some Evidence." Journal of Finance 32 May 1977, pp.239～276[113] Weitzman, M. L. "Efficient Incentive Contracts." Quarterly Journal of Economics Vo1.94 1980, p.719.[114] Williamson, Oliver E. "Corporate Finance and Corporate Goverance." The Journal of Finance No.3 July 1988, pp.567～591.[115] Williamson, Stephen D. "Costly Monitoring, Loan Contracts, and Equilibrium Credit Rationing." Quarterly Journal of Economics, 1987, pp.135～145 描述 博士
國立政治大學
企業管理學系資料來源 http://thesis.lib.nccu.edu.tw/record/#G91NCCW0222012 資料類型 thesis dc.contributor.advisor 李庸三<br>陳隆麒 zh_TW dc.contributor.author (Authors) 黃德舜 zh_TW dc.creator (作者) 黃德舜 zh_TW dc.date (日期) 1993 en_US dc.date.accessioned 10-May-2016 18:52:13 (UTC+8) - dc.date.available 10-May-2016 18:52:13 (UTC+8) - dc.date.issued (上傳時間) 10-May-2016 18:52:13 (UTC+8) - dc.identifier (Other Identifiers) G91NCCW0222012 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/96257 - dc.description (描述) 博士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 企業管理學系 zh_TW dc.description.abstract (摘要) 論文提要 zh_TW dc.description.tableofcontents 目錄．．．．．．．．．．I圖表目錄．．．．．．．．．．III第一章緒論．．．．．．．．．．1第一節研究背景．．．．．．．．．．1第二節研究動機與目的．．．．．．．．．．3第三節研究範圍．．．．．．．．．．6第四節研究方法及流程．．．．．．．．．．8第五節論文結構．．．．．．．．．．11第二章文獻探討．．．．．．．．．．14第一節代理理論．．．．．．．．．．14第二節企業舉債與資本結構．．．．．．．．．．21第三節代理問題．．．．．．．．．．26第四節負債代理成本．．．．．．．．．．34第五負債契約．．．．．．．．．．38第六節銀行放款與風險．．．．．．．．．．45第七節實證文獻．．．．．．．．．．49第八節國內銀行放款契約內容分析．．．．．．．．．．59第三章研究設計．．．．．．．．．．66第一節理論架構．．．．．．．．．．66第二節研究假說．．．．．．．．．．69第三節研究變數及操作性定義．．．．．．．．．．73第四節研究對象與抽樣設計．．．．．．．．．．77第五節問卷設計．．．．．．．．．．79第六節資料分析方法．．．．．．．．．．81第七節問卷回收分析．．．．．．．．．．83第八節信度與效度．．．．．．．．．．85第四章銀行與企業間借貸關係狀況分析．．．．．．．．．．88第一節銀行放款重視的企業條件分析．．．．．．．．．．88第二節企業股權因素與負債結構的關係．．．．．．．．．．94第三節企業負債結構與負債代理成本的關係．．．．．．．．．．102第五章企業負債契約與負債代理成本關係實証分析．．．．．．．．．．106第一節企業負債契約限制條款使用狀況分析．．．．．．．．．．106第二節隱含負債代理成本與負債契約內容的關係．．．．．．．．．．117第三節契約內容要素與外顯負債代理成本的關係．．．．．．．．．．127第四節減少銀行與企業間代理問題發生的溝通方法．．．．．．．．．．133第六章結論與建議．．．．．．．．．．137第一節結論．．．．．．．．．．137第二節建議．．．．．．．．．．150參考文獻．．．．．．．．．．155附錄1銀行放款契約範例．．．．．．．．．．172附錄2問卷．．．．．．．．．．188附錄3個案分析．．．．．．．．．．201附錄4作者簡歷．．．．．．．．．．215 zh_TW dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G91NCCW0222012 en_US dc.title (題名) 負債契約與代理問題之研究 zh_TW dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) 參考文獻一、中文部份[ 1] 于建新 雙元金融體系下利率自由化效果的研究 中興大學經濟學研究所碩士論文民國80 年1月[ 2 ] 王世一 台灣股票上市公司董監事持股成數與經營績效之實證一一動態與靜態 分析東吳大學會計學研究所碩士論文民國80年6月[ 3 ] 中央銀行經濟研究處編 金融統計月報民國8 1年1月[ 4] 中央銀行經濟研究處 中華民國台灣地區公民營企業資金狀況調查結果報告民國7 9年12月[ 5 ] 伍忠賢 貸款與債券契約條款 台灣經濟金融月刊 第28 卷第3期民國81 年3月[ 6] 李庸三 經濟計量方法 台北 民國68年8月[ 7] 李模 民法總則之.理論與實用 自印 民國78 年1 2 月修訂[ 8] 呂永正 由代理成本的觀點驗證台灣上市公司所有權變動與融資決策之關係東海大學企業管理研究所碩士論文民國77 年6月[ 9 ] 林維鵬 企業所有與經營分離一一台灣地區上市公司之實證研究中興大學企業管理研究所碩士論文民國7 9年6月[ 10] 林震岩 「終端使用者應用」管理策略之研究 政治大學企業管理研究所博士論文民國8 0年1月[11] 姜堯民 不對稱資訊下銀行放款契約訂定之研究 政治大學企業管理研究所碩士論文民國7 9年6月 [ 12 ] 俞海琴 資訊不對稱下本國銀行放款市場之研究 政治大學企業管理研究所博士論文民國8 1 年1 月[ 13 ] 財政部金融人員研究訓練中心編 銀行法令彙編 台北:財團法人金融人員研究訓練中心 民國80 年6 月[ 14 ] 陳隆麒 現代財務管理: 理論與應用 台北:華泰書局 民國8 1年2月[ 15 ] 黃英陶 代理問題對公司資本結構影響之研究 成功大學工業管理研究所碩士論文 民國77年6月[16 ] 黃榮吉 中小企業融資之研究 中國文化大學企業管理研究所碩士論文 民國8 0年6月[ 17 ] 黃明智 我國中小企業銀行經營行為之研究 台灣大學經濟學研究所碩士論文 民國7 2年7月[ 18 ] 黃俊英 行銷研究一一管理與技術 台北華泰書局 民國8 0年8月[19] 黃德舜 國際化企業長期融資決策之研究 產業金融民國7 8年12月[ 20] 張明峰 股權結構對公司績效影響之研究 政治大學企業管理研究所碩士論文民國80 年6月[ 21 ] 張訓華股權結構、董事會組成與企業當年財務績效一一一以77 年會計報酬率為準 東吳大學管理學研究所碩士論文 民國8 0年6月[ 22] 楊蕉霙 所有權結構與公司價值間關係之研究 中山大學企業管理研究所碩士論文 民國7 9年6月[ 23] 葉國興主編 銀行授信約定書之研究 台北:財團法人金融人員研究訓練中心 民國75年11月 [ 24] 經濟部中小企業處 中華民國台灣地區中小企業經濟活動報告民國79年[ 25 ] 戴淵明 公司控制型態與其經營績效關係之研究 中興大學企業管理研究所碩士論文民國 75 年6月[ 26] 謝安田 企業研究方法 台北:水牛出版社 民國69 年[ 27] 羅容恆 銀行在新環境中的新契機一一先進國家金融自由化之經驗 基層金磁 第22期民國8 0年3月二、英文部份[1] Agrawal, Anup. and Gershon N. Mandelker, " Managerial Incentives and Corporate Investment and Financial Decision," Journal of Finance No.4 September, 1987, pp.823～837.[2] Agrawal, Anup. and Nandu J. Nagarajan, "Corporate Capital "Structure, Agency Costs, and Ownership Control: The Case of All-Equity Firms." The Journal of Finance No.4 September, 1990, pp.1325～1331[3] Allen, Linda. "The Credit Rationing Phenomenon: A Survey of the Literature." Occasional Papers in Business and Finance, Salomon Brothers Center for the Study of Financial Institutions, Graduate school of Business Administration, New York University, 1987, No.7 pp.7～21[4] Altman, Edward 1. and Marti G. Subrahmanyam, Recent Advances In Corporate Finance. Illinois. Richard D. irwin, Inc.1985.[5] Altman, Edward I. "A Further Investigation of the Bankruptcy Cost Question." Journal of Finance 39 September 1984, pp.1067～1089[6]Aron, Debra J. "Ability, Moral Hazard, Firm size, and Diversification." Rand Journal of Economics No.1. spring 1988, pp.72～87[7] Barnea,Amir; Robert A. Haugen,; and Lemma W. Senbet, "A Rationale for Debt Maturity Structure and Call Provisions in the Agency Theoretic Framework." The Journal of Finance NO.5 December 1980, pp.1223～1233[8] Barnea, Amir. Robert A. Haugen, and Lemma W. Senbet, " Market Imperfections, Agency problems, and Capital Struture :A Review." Financial Management Summer 1981, pp.7～21[9] Barnea, Amir; Robert A. Haugen and Lemma W. Senbet Agency Problems and Financial Contracting. New Jersey: Prentice-Hall Inc. 1985[10] Baskin, Jonathan. "An Empirical Investigation of the Peking Oder Hypothesis." Financial Management spring 1989, pp.26～34.[11] Barton, Sidney. L. and Paul J. Gordon, "Corporate Strategy: Useful Perspective for the Study of Capital Structure?" Academy of Management Review NO.1 1987, pp.67～75[12] Berkovitch, Elazar and Stuart L. Greenbaum, "The Loan Commitment as an Optimal Financing Contract." Journal of Financial and Quantitative Analysis Vo1.26.NO.l March 1991,pp.83～95.[13] Berkovitch, Elazar and Han. Kim, "Financial Contracting and Leverage Induced Over-and Under-Investment Incentives." The Journal of Finance 3, July, 1990, pp.765～794.[14] Berle, A., and G. Means, The Modern Corporation and Private Property New york: Macmillan Inc. 1932.[15] Berlin,Mitchell. and Jan. Loeys, "Bond covenants and Delegated Monitoring." Journal of Finance NO.2 June 1988, pp.397～411.[16] Bester, Helmut. "The Role of Collateral in Credit Markets with Imperfect Information." European Economic Review 31, 1987, pp.887～899.[17] Boose, Mary Ann. "Agency Costs and Alternative Theories as they apply to the Management of Life Insurnance Companies." Unpublished Dissertation at the Washington University, 1988.[18] Boot, A.; A. V. Thakor, ; and G. Udell, "Competition, Risk Neutrality and Loan Commitments." Journal of Banking and Finance, 11, Sept. 1987 pp.449～471.[19] Bradley, Michael; Gregg. Jarrell, and E. Han. Kim, "On the Existence of an Optimal Capital Structure: Theory and Evidence." The Journal of Finance, 39, July 1984, pp.857～880[20] Campbell, Tim S. and William A. Kracaw, "Corporate Risk Management and the Incentive Effects of Debt". The Journal of Finance NO.5 December, 1990, pp.1673～1686.[21] Cheung, Steven N.S "The Contractual Nature of the Firm." Journal of Law & Economics April 1983, pp.1～21.[22] Constand, Richard Lanara. Revolving Asset-based Loans, Agency Theory and Capital Structure. Unpublished Dissertation at the Florida state University, 1989.[23] Crutchley, Claire E. and Robert S. Hansen, "A Test of the Agency Theory of Managerial Ownership, Corporate Leverage, and Corporate Dividends." Financial Management winter 1989, pp.36～45.[24] Diamond, Douglas W. "Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt." Journal of Political Economy, NO 4. 1991, pp.689～721.[25] Diamond, Douglas W. "Reputation Acquisition in Debt Markets, " Journal of Political Economy 97, 1989, pp.828～862.[26] Dobbins, Richard. and Stephen F. Witt, Practical Financial Management New York : Basil Blackwell Inc. 1988.[27] Draper, Dennis W. and James W. Hoag, "Financial Intermediation and the Theory of Agency." Journal of Financial and Quantitative Analysis November, 1978, pp.595～611.[28] Eckbo, B. Espen "Valuation Effects of Corporate Debt Offerings." Journal of Financial Economics - 15, 1986, pp.119～151[29] Eisenhardt, Kathleen M. "Agency Theory: An Assessment and Review." Academy of Management Review, Vo1.14 NO.1 1989, pp.57～74.[30] Fama, Eugene F. and Michael C. Jensen, "Agency Problems and Residual Claims." Journal of Law & Economics Vol. XXVI June 1983, pp.327～349[31] Fama, Eugene F. "What`s Different about Banks?" Journal of Monetary Economics 15, 1985, pp.29～39.[32] Fama, Eugene F. and Michael C. Jensen, "Organizational Forms and Investment Decisions." Journal of Financial Economics 14, 1985, pp.112～113.[33] Fama, Eugene F. "Contract Costs and Financing Decisions." Journal of Business VOL.63 No.1 1990, pp.71～91.[34] Fama, Eugene F. "Agency Problems and Theory of the Firm." Journal of Political Economy Vo1.88. NO.2 1980, pp.288～306。[35] Francis, Jennifer. "Corporate Compliance with Debt Covenants." Journal of Accounting Research NO.2 Autumn, 1990, pp.326～347.[36] Fried, Joel. and Peter. Howitt, "Credit Rationing and Implicit Contract Theory." Journal of Money, credit and Banking.12(3), August, 1980, pp.471～486.[37] Friend, Irwin. and Larry H. P. Lang, "An Empirical Test of the Impact of Managerial Self-Interest on Corporate Capital Structure." The Journal of Finance NO.2 June 1988, pp.271～281.[38] Gale, Douglas. and Martin. Hellwig, "Incentive-Compatible Debt Contracts: The One-Period Problem." Review of Economic Studies, 1985, pp.647～663.[39] Gavish, Bezalel and Avner. Kalay, "on the Asset Substitution Problem." Journal of Financial and Quantitative Analysis 18, 1983, pp.21～30.[40] Green, Richard C. and Eli. Talmor, "Asset Substitution and the Agency Costs of Debt Financing." Journal of Banking and Finance 10, 1986, pp.391～399.[41] Guesneric, Roger; Picerre Piard, and Patrik Rey "Adverse Selection and Moral Hazard with Risk Neutral Agents." European Economic Review 33 1988, pp.807～823.[42] Guffey, Daryl M. and William T. Moore, "Direct Bankruptcy Costs: Evidence from the Trucking Industry." The Financial Review NO.2 May 1991, pp.223～235.[43] Gupta, Atul. and Rosenthal Leonard, "Ownership structure, Leverage, and Firm Value: The Case of Leveraged Recapitalizations." Financial Management Autumn, 1991 pp.69～82.[44] Hansen, Robert S. and Claire Crutchley, " Corporate Earnings and Financings: An Empirical Analysis." Journal of Business Vol. 63. NO.3 1990, pp.347～371[45] Harris, Milton. and Artur Raviv, "Corporate Control Contests and Capital Structure." Journal of Financial Economics 20, 1988, pp.S5～86[46] Harris, Milton. and Artur Raviv, "The Theory of Capital Structure." The Journal of Finance NO.1 March 1991, pp.297～355.[47] Haugen, Robert A. and Lemma W. Senbet, "The Insignificance of Bankruptcy Costs to the Theory of Optimal Capital Structure." The Journal of Finance May, 1978 pp.383～393[48] Haugen, Robert A. and Lemma W. Senbet, "New Perspectives on Informational Asymmetry and Agency Relationships." Journal of Financial and Quantitative Analysis NO.4, November 1979, pp.671～693[49] Haugen, Robert A. and Lemma W. Senbet, "Bankruptcy and Agency Costs: Their Significance to the Theory of Optimal Capital Structure." Journal of Financial and Quantitative Analysis NO.1. March 1988, pp.27～38[50] Haugen, Robert A. and Lemma W. Senbet "Resolving the Agency Problems of External Capital Through Options." Journal of Finance 36, 1991, pp.629～647.[51] Holderness, Clifford G. and Dennis P. Sheehan, "The Role of Majority Shareholders in Publicly Held Corporations." Journal of Financial Economics 20, 1988, pp.317～ 346[52] Holmstrom, Bengt. "Moral Hazard and Observability". The Bell Journal of Economics, 1979, pp.74～91.[53] Howkins, Gregory. "An Analysis of Revolving Credit Agreements." Journal of Financial Economics 10 March 1982, pp.59～81[54] 19awa, Kazuhiro. and George. Kanatas, "Asymmetric Information, Collateral, and Moral Hazard." Journal of Financial and Quantitative Analysis NO.4 December 1990, pp.469～490[55] James, C. "Some Evidence on the Uniqueness of Bank Loans." Journal of Financial Economics 19 1987, pp.217～235[56] Jensen, Michael C. and William H. Meckling, "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure." Journal of Financial Economics 3 1976 pp.305～360.[57] Jensen, Michael C. and Clifford W. Smith, Jr. The Modern Theory of Corporate Finance New York: McGraw-Hill Book Company 1986[58] Jensen, Michael C. and Jerold B. Warner, "The Distribution of Power among Corporate Managers, Shareholders, and Directors." Journal of financial Economics 20, 1988, pp.4～5[59] John, K. "Risk-Shifting Incentives and Signalling Through Corporate Capital Structure." Journal of Finance 42, July 1987, pp.623～644.[60] Jose, Fillipe Garcia Correia Guedes An Investigation of Corporate Borrowing Strategies. Unpublished Dissertation at the Ohio State University, 1990.[61] Joy, Begley. The Use of Debt Covenants to Control Agency Problems. Unpublished Dissertation at the University of Rochester, 1991.[62] Kalay, A. "Stockholder-Bondholder Conflict and Dividend Constraints." Journal of Financial Economics 10, 1982, pp.211～233.[63] Kanatas, G. "Commercial Paper, Bank Reserve Requirements and the Informational Role of Loan Commitments." Journal of Banking and Finance, 11, Sept. 1987, pp.25～448.[64] Kane, Edward J. "Principal-Agent Problems in S & L Salvage. " The Journal of Finance NO.3 July 1990, pp.755～764.[65] Kim, Moshe. and Vojislav Maksimovic, "Debt and Input Misallocation," The Journal of Finance NO.3 July 1990, pp.795～816.[66] Kim, W. Saeng. and Evric H. Sorensen, "Evidence on the Impact of the Agency Costs of Debt on Corporate Debt Policy," Journal of Financial and Quantitative Analysis Vo1.21 No.2 June 1986, pp.131～142.[67] Kwon, Young -June Analysis of the Principal-Agent Relationships. Unpublished Dissertation at the University of Pennsylvania, 1986.[68] Lambert, Richard A. "Long-Term Contracts and Moral Hazard." The Bell Journal of Economics 14:2 Autumn 1983, pp.441～452.[69] Levy, Haim. and Marshall Sarnat, Principles of Financial Management N.J. Englewood cliffs: Prentice Hall 1988.[70] Lloyed, william P.; John S. Jahera, Jr.; and Steven J. Goldsteir, "The Relation Between Returns, Owneship Structure and Market Value," Journal of Financial Researh No.2 Summer 1986, pp.171～177.[71] Marshall, John M. "Moral Hazard," The American Economic Review December 1976, pp.880～890.[72] Mcafee, R. Preston. and John. Mcmillan, "Bidding for Contracts: a Principal-Agent Analysis." Rand Journal of Economics NO.3 Autumn, 1986, pp.326～338.[73] McDonald, James Emry. Asymmetric Information: The Case of Bank Loan Commitments Unpublished Dissertation at the Louisiana Tech University, 1988.[74] Melnik, Arie. and Steven E. Plaut, "Loan Commitment Contracts, Terms of Lending and Credit Allocation." The Journal of Finance Vo1.xll, No2, June 1986, pp.425～435.[75] Melnik, Arie. and Steven E. Plaut, "Interest Rate Indexation and the Pricing of Loan Commitment Contracts." Journal of Banking and Finance 11, 1987, pp.137～145.[76] Miller, Merton H. "Credit Risk and Credit Rationing: Further Comment." Quarterly Journal of Economics 76 August 1962, pp.480～488.[77] Moore, Robert R. Financial Contracting and Asymmetric In- formation. Unpublished Dissertation at the University of Wisocnsin-Madison, 1987.[78] Morek, Randall.; Andrei. Shleifer, ; and Robert W. Vishny, " Management Ownership and Market Valuation." Journal of Financial Economics 20, 1988, pp.293～315.[79] Morris, James R. "On Corporate Debt Maturity Strategies." The Journal of Finance Vo 1.XXXI, No.1 March 1976, pp.29～37.[80] Moyer, R. Charles.; Robert E. Chatfield, ; and Phillip M. Sisneros, "Security Analyst Monitoring Activity: Agency Costs and Information Demands." Journal of Financial and Quantitative Analysis NO.4 December 1989, pp.503～512.[81] Murali, Ramaswarni and Johnathan B., Welch, "Agents , Qwners, Control and Performance." Journal of Business Finance & Accounting Summer 1989, pp.385～398.[82] Myers, Stewart C. "Determinants of Corporate Borrowing." Journal of Financial Economics 50, 1977, pp.147～175.[83] Naraganan, M.P. "Debt Versus Equity under Asymmetric In- formation." Journal of Financial and Quantitative Analysis VOL.23 No .1 March 1988, pp.39～50.[84] Niehaus, Gregory R. "Ownership Structure and Inventory Method Choice." The Accounting Review No.2 April, 1989, pp.269～284.[85] Noronha, Gregory Mario. Industry Characteristics, Agency Theory, and the Interaction of Capital Structure and Dividend Policy. Unpublished Dissertation at the Virginia Polytechnic Institute and State University, 1990.[86] Orgler, Yair E. and Robert A. Taggart, Jr. "Implications of Corporate Capital Structure Theory for Banking Institutions." Journal of Money Credit and Banking No.2 May 1983, pp.212～221[87] Pechenino, R. A. "The Loan Contract: Mechanism of Finanial Control." The Economic Journal March 1988, pp.126～137.[88] Pinegar, J.Michael. and Lisa. Wilbricht, "What Managers Think of Capital Structure Theory: A Survey." Financial Management Winter 1989, pp.82 ～91[89] Ramakrishanan, R.T.S and A.V. Thakor "Moral Hazard, Agency Costs and Asset Prices in a Competitive Equilibrium." Journal of Financial and Quantitative Analysis 17:4 Nov. 1982, pp.503～532[90] Rasmusen, Eric. Games and Information Oxford: Basil Blackwell LTD, 1989.[91] Rees, Ray. "The Theory of Principal and Agent: part 2."Bulletin of Economic Research 37:2 1985, pp.75～94.[92] Rees, Ray "The Theory of Principal and Agent: Part I." Bulletin of Economic Research 37:1 1985, pp.3～26[93] RosenBerg, Sidney Berk. The Agency Cost of Property Management Contracts : An Empirical Examination. Unpublished Dissertation at the Georgia state University, 1989.[94] Ross, S.A. "The Economic Theory of Agency: The Principal`s Problem." American Economic Association Vol. 63, No.2, May 1973, pp.134～139.[95] Scott, D. and J. Martin, "Industry Influence of Financial Structure." Financial Management Vol.4 Spring 1975, pp.67～73.[96] Smith, Jr. Clifford W. "On the Theory of Financial Contracting Journal of Monetary Economics 6, 1980, pp.333～357.[97] Smith, C.W. and L.M. Wakeman, "Determinants of Corporate Leasing Policy." Journal of Finance 40, 1985, pp.895～908.[98] Smith C. W. and J. B. Warner, "On Financial Contracting –An Analysis of Bond Covenant." Journal of Financial Economics 7 1979, pp.117-161.[99] Stern, Joel M. and Donald H. Chew Jr . The Revolution in Corporate Finance, Oxford: Basil Blackwell LTD. 1986.[100] Stiglitz, Joseph E. "Credit Markets and the Control of Capital." Journal of Money, Credit and Banking Vol. 17. No.2 May 1985, pp.133～152[101] Stiglitz, J. E. and A, Weiss, "Incentive Effects of Terminations: Applications to the Credit and Labor Markets." American Economic Review 73, 1983, pp.912～927.[102] Stiglitz, J. E. and A. Weiss, "Credit Rationing 10 Markets with Imperfect Information." American Economic Review 71, 1981, pp.393～410[103]Stulz, R.M. and H. Johnson, "An Analysis of Secured Debt." Journal of Financial Economics 14, 1985, pp.501～522.[104]Thakor, A. V. "Toward a Theory of Bank Loan Commitments." Journal of Banking and Finance, 6 March. 1982, pp.55～83.[105]Thakor, Anjan V. "Strategic Issues in Financial Contracting: An Overview." Financial Management Summer. 1989, pp.39～59[106] Thatcher, Janet S. "The Choice of Call Provision Terms: Evidence of the Existence of Agency Costs of Debt." The Journal of Finance No .2, June 1985, pp.549～561.[107]Townsend, Robert. "Optimal Com tracts and Competitive Markets with Costly State Verification." Journal of Economic Theory, XXI 1979, pp.265～293.[108] Udell, Gregory F. "Loan Quality, Commercial Loan Review and Loan Officer Contracting." Journal of Banking and Finance 13,1989, pp.367～382.[109] Vale, Philip A. Financial Management Handbook England:Gower Publishing Company Limited 1988.[110] Venkataraman, Subramanyam. Multiperiod Agency problems and Financial Contracting. Unpublished Dissertation at the University of Wisconsin- Madison, 1988.[111] Walker, Ernest W. and William II. Petty, J. "Financial Differences Between Large and Small Firms." Financial Managment Winter 1978, pp.61～68.[112] Warner, Jerold B. "Bankruptcy Costs: Some Evidence." Journal of Finance 32 May 1977, pp.239～276[113] Weitzman, M. L. "Efficient Incentive Contracts." Quarterly Journal of Economics Vo1.94 1980, p.719.[114] Williamson, Oliver E. "Corporate Finance and Corporate Goverance." The Journal of Finance No.3 July 1988, pp.567～591.[115] Williamson, Stephen D. "Costly Monitoring, Loan Contracts, and Equilibrium Credit Rationing." Quarterly Journal of Economics, 1987, pp.135～145 zh_TW
