| dc.contributor | 財管系 | zh_TW |
| dc.creator (作者) | 陳聖賢 | zh_TW |
| dc.creator (作者) | Chen, Sheng-Syan | en_US |
| dc.creator (作者) | Ho, Lan-Chih | en_US |
| dc.creator (作者) | Shih, Yi-Cheng | en_US |
| dc.date (日期) | 2007 | |
| dc.date.accessioned | 12-Jun-2018 16:52:26 (UTC+8) | - |
| dc.date.available | 12-Jun-2018 16:52:26 (UTC+8) | - |
| dc.date.issued (上傳時間) | 12-Jun-2018 16:52:26 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/117627 | - |
| dc.description.abstract (摘要) | We examine how announcements of corporate capital investments by one firm affect the stock prices of its competitors. We find that on average, rivals experience a significantly negative valuation effect. The results suggest that for the sample as a whole, the competitive effect dominates the contagion effect. We further examine various factors that could potentially explain the heterogeneous intra-industry effects of capital investment announcements. We find that rivals` share prices are more adversely affected when the announcer experiences a higher announcement effect or is the first mover in the industry. We also show that rivals experience a greater wealth loss when they have poorer investment opportunities or higher financial leverage. | en_US |
| dc.format.extent | 286787 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | Financial Management, Vol.36, No.2, pp.125-145 | zh_TW |
| dc.title (題名) | Intra-Industry Effects of Corporate Capital Investment Announcements | en_US |
| dc.type (資料類型) | article | |
