dc.contributor.advisor | 屠美亞 | zh_TW |
dc.contributor.author (作者) | 洪梓程 | zh_TW |
dc.creator (作者) | 洪梓程 | zh_TW |
dc.date (日期) | 2007 | en_US |
dc.date.accessioned | 2009-09-14 | - |
dc.date.available | 2009-09-14 | - |
dc.date.issued (上傳時間) | 2009-09-14 | - |
dc.identifier (其他 識別碼) | G0093357001 | en_US |
dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/30975 | - |
dc.description (描述) | 碩士 | zh_TW |
dc.description (描述) | 國立政治大學 | zh_TW |
dc.description (描述) | 財務管理研究所 | zh_TW |
dc.description (描述) | 93357001 | zh_TW |
dc.description (描述) | 96 | zh_TW |
dc.description.abstract (摘要) | 本文研究在購併案中,主併公司規模的大小是否會影響購併績效,並探討主併公司規模大小不同時,影響其購併績效的因素。實證結果發現: (1)規模效果確實存在於台灣的購併案中 (2)相對規模雖對規模不同的主併公司均為正向影響,但在統計上均不顯著。 (3)產業集中度對規模較大的公司而言為正的影響,且在統計上顯著 (4)Tobin’s Q對規模較大的公司影響不顯著,而對規模較小的公司則有正向且顯著的影響。顯示成長機會理論可用於解釋規模效應。 | zh_TW |
dc.description.tableofcontents | 第一章 續論....................................................................5 第二章 購併理論與文獻回顧..........................................8 第三章 研究方法...........................................................21 第四章 實證模型與結果分析.........................................30 第五章 結論與建議........................................................41 參考文獻........................................................................43 | zh_TW |
dc.language.iso | en_US | - |
dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0093357001 | en_US |
dc.subject (關鍵詞) | 規模效應 | zh_TW |
dc.subject (關鍵詞) | 購併 | zh_TW |
dc.subject (關鍵詞) | 事件研究法 | zh_TW |
dc.title (題名) | 公司規模與購併績效之相關性 | zh_TW |
dc.type (資料類型) | thesis | en |
dc.relation.reference (參考文獻) | 參考文獻 | zh_TW |
dc.relation.reference (參考文獻) | 中文部份 | zh_TW |
dc.relation.reference (參考文獻) | 1.王佳宜,「我國企業購併後企業文化與綜效關係之研究」,中國文化大學國際企業管理研究所未出版碩士論文,1995 年。 | zh_TW |
dc.relation.reference (參考文獻) | 2. 吳昭欣,「台灣企業合併收購的績效評估」,東海大學企業管理學系未出版碩士論文, 1992 年。 | zh_TW |
dc.relation.reference (參考文獻) | 3. 杜曉君,「購併事件宣告時主併公司特質對股東財富影響之研究-台灣上市公司為例」,東吳大學會計研究所未出版碩士論文,2000 年。 | zh_TW |
dc.relation.reference (參考文獻) | 4. 沈中華、李建然,「事件研究法-財務與會計實證研究必備」,華泰文化事業公司,2000 年。 | zh_TW |
dc.relation.reference (參考文獻) | 5. 沈建良,「上市公司購併宣告對股價影響之研究-以電子業及食品業為例」,政治大學企業管理研究所未出版碩士論文,2000 年。 | zh_TW |
dc.relation.reference (參考文獻) | 6. 林元傑,「購併宣告對上市公司股票報酬率之影響─介入模型之應用」,中興大學企業管理研究所未出版碩士論文,1997 年。 | zh_TW |
dc.relation.reference (參考文獻) | 7.洪麗惠,「購併宣告對股東財富的影響-Jensen 閒餘現金流量與Tobin`s Q兩假說之驗證」東吳大學管理研究所未出版碩士論文,1995 年。 | zh_TW |
dc.relation.reference (參考文獻) | 8.馮文美,「企業購併對主併公司股東財富之影響」,工業技術學院企業管理研究所未出版碩士論文,1994 年。 | zh_TW |
dc.relation.reference (參考文獻) | 9.葉秋美,「臺灣企業購併宣告對股東財富之影響」,政治大學國際貿易研究所未出版碩士論文,1993 年。 | zh_TW |
dc.relation.reference (參考文獻) | 10.潘振豪,「購併決策對股票報酬率影響之研究-介入模型之應用」,中興大學企業管理研究所未出版碩士論文,1997 年。 | zh_TW |
dc.relation.reference (參考文獻) | 11.蕭惠元,「購併活動對股價行為與會計資訊之影響-以台灣上市公司為例」,東吳大學會計研究所未出版碩士論文,1996 年 | zh_TW |
dc.relation.reference (參考文獻) | 12.謝惠貞,「購併活動對國內上市主併公司價值影響之研究」,台灣大學會計學研究所未出版碩士論文,1997 年。 | zh_TW |
dc.relation.reference (參考文獻) | 13.羅明敏,「台灣地區企業購併宣告對主併公司股東財富影響之實證研究」,朝陽科技大學財務金融研究所未出版碩士論文,1998 年。 | zh_TW |
dc.relation.reference (參考文獻) | 14. 蘇榮晟,「以財務面衡量企業購併績效之研究-台灣企業為例」,東吳大學企業管理研究所未出版碩士論文,2000 年。 | zh_TW |
dc.relation.reference (參考文獻) | 英文部份 | zh_TW |
dc.relation.reference (參考文獻) | 1. Asquith, P., R. Bruner and D. Mullins, “The gains to bidding firms from merger”,Journal of Financial Economics , Vol.11, 1983,pp121-40. | zh_TW |
dc.relation.reference (參考文獻) | 2. Beja, Avraham. ,“On Systematic and Unsystematic Components of FinancialRisk, ”Journal of Finance,1972,pp37-45. | zh_TW |
dc.relation.reference (參考文獻) | 3. Bradley,M., A.Desai,and E.H. Kim, “Synerfistic Gains from Corporate Caquisitions and their Division between the Stockholders of Target and Acquiring | zh_TW |
dc.relation.reference (參考文獻) | Firms”,Journal of Financial Economics , Vol.21 , 1983,pp40. | zh_TW |
dc.relation.reference (參考文獻) | 4. Brigham, E.F. and L.C. Gapenski, “Financial Management: Theory and Practice” , Chicago, IL, Dryden Press, 7th ed., 1994. | zh_TW |
dc.relation.reference (參考文獻) | 5. Conn, R. L., Connell, F., “International Mergers: Returns to U.S. and British Firms ”, Journal of Business Finance & Accounting, Oxford, Winter 1990. | zh_TW |
dc.relation.reference (參考文獻) | 6. Doukas J. and Travlos N. G., December ,“The Effect of Corporate Multinationalism on Shareholders’ Wealth : Evidence from International Acquisition”, Journal of Finance, Vol.43, 1988, pp1161-1175 . | zh_TW |
dc.relation.reference (參考文獻) | 7. Duggal, R., “Agency Cost and Firm Value: Further Evidence from Bidding Firms”, International Journal of Finance, Vol.7(2), 1995, pp1183-1194. | zh_TW |
dc.relation.reference (參考文獻) | 8. Fama Eugene F, Lawrence Fisher, Michael C. Jensen and Richard Roll, “The Adjustment of Stock Prices to New Information, ”International Economic Review, 1969,Vol.10(1), pp1-21. | zh_TW |
dc.relation.reference (參考文獻) | 9. Fama, Eugene F. and Harvey, Babiak, “Dividend Policy: An Empirical Analysis, ” Journal of the American Statistical Association ,1968, Vol.63,pp1132-1161. | zh_TW |
dc.relation.reference (參考文獻) | 10. Fama, Eugene F. and James D. MacBeth, “Risk, return and equilibrium: Empirical tests, ”Journal of Political Economy, 1973, Vol.81(3), pp607-636. | zh_TW |
dc.relation.reference (參考文獻) | 11. Jensen, M. C., and W. H. Meckling, “Theory of the firm: Managerial behavior, agency costs and capital structure”, Journal of Financial Economics , Vol.3, 1976, pp305-360. | zh_TW |
dc.relation.reference (參考文獻) | 12. Jo-Hui Chen, “ISO Certificaton and Abnormal Return of Stock Price-The Study of the Taiwan Stock Market”, Review of Pacific Basin Financial Markets and Polices, Vo1.4(2),2001,pp109-126. | zh_TW |
dc.relation.reference (參考文獻) | 13. Kee H.Chung , Stephen W.Pruitt, “A Simple Approximation of Tobin’s q”, Financial Management , Vol.23, 1994, pp70-74. | zh_TW |
dc.relation.reference (參考文獻) | 14. Lang, H. P. Larry and Robert H. Litzenberger, “Dividend Announcements:Cash Flow Signaling vs. Cash Free Hypothesis”, Journal of Financial Economics , Vol.24, 1989, pp181-191. | zh_TW |
dc.relation.reference (參考文獻) | 15. Lewellen, W. G. and B. Huntsman, “Managerial Pay and Corporate Performance”, American Economic Review, Vol.60, September 1970, pp710~720. | zh_TW |
dc.relation.reference (參考文獻) | 16. Linderberg, E. B., and S. A. Ross, “Tobin’s Q Ratio and Industrial Organization,” Journal of Business, Jan 1981, pp1-32. | zh_TW |
dc.relation.reference (參考文獻) | 17. Mundlak, Y., “On Pooling Time Series and Cross Section Data ”, Econometrica, Vol.46, 1978,pp69-85. | zh_TW |
dc.relation.reference (參考文獻) | 18. Patell, J., “Corporate Forecasts of Earnings Per Share and Stock Price Behavior— Empirical Tests,” Journal of Accounting Research, Vol.14(2), 1976, pp246-276. | zh_TW |
dc.relation.reference (參考文獻) | 19. Roll, Richard, “The Hubris Hypothesis of Corporate Takeovers”, Journal of Business, Vol.59(2), 1986,pp197-216. | zh_TW |
dc.relation.reference (參考文獻) | 20. Sara B. Moeller, Frederik P. Schlingemann, Ren!e M. Stulz,” Firm size and the gains from acquisitions”, Journal of Financial Economics Vol.73 2004 pp201–228 | zh_TW |
dc.relation.reference (參考文獻) | 21. Sudarsanam, S., P. Holl and A. Salami, “Shareholder Wealth Gains in Mergers: Effects of Synergy and Ownership Structure”, Journal of Business Finance and Accounting, Vol.23(5) & (6), July 1996, pp673-698. | zh_TW |
dc.relation.reference (參考文獻) | 22. Virginia L Blackburn, Frederick H Dark, Robert C Hanson, “Mergers, method of payment and returns to manager- and owner-controlled firms” The Financial Review, Tallahassee, Aug 1997. | zh_TW |
dc.relation.reference (參考文獻) | 23. Weston, J. F., K. S. Chung, and S. E. Hoang, “Mergers, Restructuring,and Corporate Control. ”, Prentice-Hall, 1990,pp425-437. | zh_TW |