| dc.contributor | 財管系 | |
| dc.creator (作者) | 陳嬿如 | |
| dc.creator (作者) | Chen, Yenn-Ru | |
| dc.creator (作者) | 黃幼琳 | |
| dc.creator (作者) | Huang, Yu-Lin | |
| dc.date (日期) | 2019-09 | |
| dc.date.accessioned | 27-Apr-2020 16:00:52 (UTC+8) | - |
| dc.date.available | 27-Apr-2020 16:00:52 (UTC+8) | - |
| dc.date.issued (上傳時間) | 27-Apr-2020 16:00:52 (UTC+8) | - |
| dc.identifier.uri (URI) | https://ah.lib.nccu.edu.tw/item?item_id=148355 | - |
| dc.description.abstract (摘要) | This paper examines the effect of equity issuances on the marginal value of cash. We find\nthe marginal value of cash is higher to firms saving cash from equity issuances than to firms\nwith low or no equity issuances. Our results support the precautionary motive for cash\ngeneration. Additionally, the capital market values additional cash higher to firms more likely\nsaving cash from private placements relative to public offerings. Such valuation difference is\nattributed to the monitoring effect from private placements, and the value difference between\nthe two equity issuance mechanisms varies with the corporate governance environment that\nfirms face. | |
| dc.format.extent | 787178 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | Journal of Financial Studies, Vol.27, No.3, pp.1-39 | |
| dc.subject (關鍵詞) | Private placements ; equity issuances ; value of cash | |
| dc.subject (關鍵詞) | 私募股權 ; 權益發行 ; 現金價值 | |
| dc.title (題名) | Equity Issuances and the Value of Cash Holdings | |
| dc.title (題名) | 權益發行與現金價值 | |
| dc.type (資料類型) | article | |
| dc.identifier.doi (DOI) | 10.6545/JFS.201909_27(3).0001 | |
| dc.doi.uri (DOI) | https://doi.org/10.6545/JFS.201909_27(3).0001 | |
