| dc.contributor | 財管系 | |
| dc.creator (作者) | 陳嬿如 | |
| dc.creator (作者) | Chen, Yenn-Ru | |
| dc.creator (作者) | Huang, Yu-Lin | |
| dc.date (日期) | 2019-08 | |
| dc.date.accessioned | 4-Oct-2019 16:16:15 (UTC+8) | - |
| dc.date.available | 4-Oct-2019 16:16:15 (UTC+8) | - |
| dc.date.issued (上傳時間) | 4-Oct-2019 16:16:15 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/126732 | - |
| dc.description.abstract (摘要) | This paper examines the effect of equity issuances on the marginal value of cash. We find the marginal value of cash is higher to firms saving cash from equity issuances than to firms with low or no equity issuances. Our results support the precautionary motive for cash generation. Additionally, the capital market values additional cash higher to firms more likely saving cash from private placements relative to public offerings. Such valuation difference is attributed to the monitoring effect from private placements, and the value difference between the two equity issuance mechanisms varies with the corporate governance environment that firms face. | |
| dc.format.extent | 127 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | Journal of Financial Studies, 27(3) | |
| dc.subject (關鍵詞) | Private placements ; equity issuances ; value of cash | |
| dc.title (題名) | Equity Issuances and the Value of Cash Holdings | |
| dc.type (資料類型) | article | |
