| dc.contributor.advisor | 沈中華 | zh_TW |
| dc.contributor.author (Authors) | 粘凱均 | zh_TW |
| dc.creator (作者) | 粘凱均 | zh_TW |
| dc.date (日期) | 2004 | en_US |
| dc.date.accessioned | 17-Sep-2009 19:07:06 (UTC+8) | - |
| dc.date.available | 17-Sep-2009 19:07:06 (UTC+8) | - |
| dc.date.issued (上傳時間) | 17-Sep-2009 19:07:06 (UTC+8) | - |
| dc.identifier (Other Identifiers) | G0923520211 | en_US |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/34022 | - |
| dc.description (描述) | 碩士 | zh_TW |
| dc.description (描述) | 國立政治大學 | zh_TW |
| dc.description (描述) | 金融研究所 | zh_TW |
| dc.description (描述) | 92352021 | zh_TW |
| dc.description (描述) | 93 | zh_TW |
| dc.description.abstract (摘要) | 隨著企業國際化的腳步，享受資源有效分配的利益外，國內各產業面臨經營風險有增無減，尤其是國內的企業以外銷導向為主，更是無法避免匯率波動風險所帶來的威脅，因此大多數企業均會透過操作衍生性金融商品避險，而本研究基於台灣企業的這些性質，希望更了解台灣企業使用衍生性商品避險之行為。本文研究期間為民國90至92年，以上市公司為研究對象，排除財務報表資料不齊全者後，共有595家樣本公司。目的就在於了解國內企業目前使用衍生性金融商品之概況，及探討企業從事衍生性金融商品避險活動之動機為何，具有何種特徵的公司傾向於採取衍生性金融商品避險策略，並研究避險對公司經營績效的影響。因此本研究主要分為二大部分：使用衍生性金融商品避險之決定因素和避險對公司經營績效的影響，除利用實證分析以外，還輔以個案研究，希望能對上述之研究目的更深層的了解。 本研究的實證結果顯示，就所有上市公司而言，財務危機發生成本的高低、匯率風險的暴險部位及變異、執行避險策略的成本和避險的替代方案是決定避險與否的重要因素。個案研究的分析結果發現，財務危機發生機率的高低、來自海外營運的暴險部位及變異、執行避險策略的成本以及代理成本是台積電決定避險與否的重要因素。另外，不管是實證分析或是個案研究的結果，皆顯示公司一旦決定利用衍生性金融商品避險之下，避險對公司經營績效是有正面的幫助。 | zh_TW |
| dc.description.tableofcontents | 第一章 緒論…………………………………………………………… 1第一節 研究背景與動機………………………………………………1第二節 研究目的………………………………………………………3第三節 研究架構………………………………………………………3第二章 文獻回顧……………………………………………………… 4第一節 避險的定義與內涵……………………………………………4第二節 避險決定因素之相關理論……………………………………10第三節 影響經營績效之相關因素……………………………………20第四節 相關實證研究之整理…………………………………………24第三章 研究設計………………………………………………………34第一節 資料蒐集與樣本選擇…………………………………………34第二節 研究假說………………………………………………………35第三節 變數衡量………………………………………………………39第四節 研究方法………………………………………………………45第四章 實證分析………………………………………………………50第一節 基本資料分析…………………………………………………50第二節 使用衍生性金融商品之決定因素……………………………60第三節 避險對公司經營績效之影響…………………………………68第五章 個案研究－以聯電與台積電為例……………………………73第一節 半導體產業分析………………………………………………73第二節 個案公司描述…………………………………………………76第三節 避險策略比較…………………………………………………81第四節 財務結構比較…………………………………………………82第六章 結論與建議……………………………………………………89第一節 研究結論………………………………………………………89第二節 研究限制………………………………………………………91第三節 研究建議………………………………………………………92參考文獻……………………………………………………………………94 | zh_TW |
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| dc.language.iso | en_US | - |
| dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0923520211 | en_US |
| dc.subject (關鍵詞) | 上市公司 | zh_TW |
| dc.subject (關鍵詞) | 避險 | zh_TW |
| dc.subject (關鍵詞) | 經營績效 | zh_TW |
| dc.title (題名) | 上市公司避險決定因素與經營績效之研究 | zh_TW |
| dc.type (資料類型) | thesis | en |
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