| dc.coverage.temporal | 計畫年度：94 起迄日期：20050801～20060731 | en_US |
| dc.creator (作者) | 廖四郎 | zh_TW |
| dc.date (日期) | 2005 | en_US |
| dc.date.accessioned | 18-Apr-2007 16:34:57 (UTC+8) | en_US |
| dc.date.accessioned | 8-Sep-2008 16:42:33 (UTC+8) | - |
| dc.date.available | 18-Apr-2007 16:34:57 (UTC+8) | en_US |
| dc.date.available | 8-Sep-2008 16:42:33 (UTC+8) | - |
| dc.date.issued (上傳時間) | 18-Apr-2007 16:34:57 (UTC+8) | en_US |
| dc.identifier (Other Identifiers) | 942416H004046.pdf | en_US |
| dc.identifier.uri (URI) | http://tair.lib.ntu.edu.tw:8000/123456789/3738 | en_US |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/3738 | - |
| dc.description (描述) | 核定金額：720000元 | en_US |
| dc.description.abstract (摘要) | 本研究提出並檢驗一個部分均衡模型來探討總體、產業與個體因素對公司負債比率之影響。本研究將原有的公司資本結構或有求償權模型，擴展為一個既能考慮總體產業需求亦可反應個體公司供給的新模型。本模型之理論預測與台灣130家製造業上市公司從1994 年第4 季到2003 年第4 季之實證結果相符。結果顯示最適負債比率與資金成本和平均產業工資成正向關係，與總體需求和公司生產力平均成長率、需求彈性和勞動與資本產出彈性成反向關係。此外，由SUR 的估計結果，我們發現不同的產業可能存在完全不同的特性。 | - |
| dc.description.abstract (摘要) | This research develops and examines a partial equilibrium model to investigate the effects of the macroeconomic, industry, and microeconomic factors on the firm-level debt ratio. The model extends the contingent-claims models of the firm’s capital structure to take into consideration not only the macroeconomic demand conditions, but also the microeconomic firm-level supply conditions. Our model predictions are generally supported by the pooled feasible generalized least squares estimations of the 130 Taiwanese manufacturing firms in the period from 1994:Q4 to 2003:Q4, where the optimal debt ratio is positively correlated to the cost of capital and the mean industry wage but is negatively correlated to the mean growth rates of the macroeconomic demand and the firm-level productivity, the elasticity of demand, and the output elasticities of labor and capital. In addition, the seemingly unrelated regression estimation for each industry further shows different industries may lead to quite diverse properties. | - |
| dc.format | applicaiton/pdf | en_US |
| dc.format.extent | bytes | en_US |
| dc.format.extent | 194691 bytes | en_US |
| dc.format.extent | 194691 bytes | - |
| dc.format.extent | 25017 bytes | - |
| dc.format.mimetype | application/pdf | en_US |
| dc.format.mimetype | application/pdf | en_US |
| dc.format.mimetype | application/pdf | - |
| dc.format.mimetype | text/plain | - |
| dc.language | zh-TW | en_US |
| dc.language.iso | zh-TW | en_US |
| dc.publisher (Publisher) | 臺北市：國立政治大學金融系 | en_US |
| dc.rights (Rights) | 行政院國家科學委員會 | en_US |
| dc.subject (關鍵詞) | 產業需求;公司技術水準;最適資本結構 | - |
| dc.subject (關鍵詞) | Industry Demand; Firm-Level Technology; Optimal Capital Structure | - |
| dc.title (題名) | 產業需求與公司技術水準對公司債評價及資本結構之影響 | zh_TW |
| dc.title.alternative (其他題名) | The Impacts of Industry Demand Shocks and Firm-Level Technology Shocks on the Valuation of Corporate Debts and Capital Structure | - |
| dc.type (資料類型) | report | en |
