| dc.contributor.advisor | 徐燕山 | zh_TW |
| dc.contributor.author (Authors) | 林雅萍 | zh_TW |
| dc.contributor.author (Authors) | Lin Ya Ping | en_US |
| dc.creator (作者) | 林雅萍 | zh_TW |
| dc.creator (作者) | Lin Ya Ping | en_US |
| dc.date (日期) | 2009 | en_US |
| dc.date.accessioned | 8-Dec-2010 01:54:21 (UTC+8) | - |
| dc.date.available | 8-Dec-2010 01:54:21 (UTC+8) | - |
| dc.date.issued (上傳時間) | 8-Dec-2010 01:54:21 (UTC+8) | - |
| dc.identifier (Other Identifiers) | G0097357012 | en_US |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/48963 | - |
| 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) | 97357012 | zh_TW |
| dc.description (描述) | 98 | zh_TW |
| dc.description.abstract (摘要) | 本研究探討國內上市櫃公司庫藏股減資及現金減資宣告效果之比較。研究台灣2006年1月至2010年2月底之間進行庫藏股減資及現金減資的上市櫃公司，分別以事件研究法、多元迴歸分析（Multiple Regression Analysis）及多元名義羅吉特迴歸（Multinomial Logistic Regression）探討庫藏股減資及現金減資兩組樣本之宣告效果及影響宣告效果的因子，並進一步探究影響減資政策選擇的因素。本研究之實證結果發現：1.公司宣告庫藏股減資及現金減資在事件日當天皆具有顯著的正向宣告效果。2.公司宣告庫藏股減資與現金減資之間的累積異常報酬率無著顯著差異。3.以多元迴歸分析探討影響庫藏股減資及現金減資之間累積異常報酬率的因素，結果顯示減資比率顯著地影響累積異常報酬率，其餘本研究選取的公司規模、股價淨值比、負債比率、自由現金流量比率等解釋變數，無法顯著地影響累積異常報酬率。4.以多元名義羅吉特迴歸檢驗不同的解釋變數會造成公司傾向進行庫藏股減資或現金減資的減資政策，結果顯示規模愈大、股價淨值比愈高、自由現金流量比率高、減資比率高的公司，傾向使用現金減資；而負債比率高的公司，傾向使用庫藏股減資。 | zh_TW |
| dc.description.tableofcontents | 摘要.................................................................................................................................i 目錄............................................................................................................................... ii 表目錄...........................................................................................................................iv 圖目錄............................................................................................................................v 第壹章 緒論..................................................................................................................1 第一節 研究背景..................................................................................................1 第二節 研究動機與目的......................................................................................2 第三節 研究架構與流程......................................................................................4 第貳章 文獻探討..........................................................................................................6 第一節 減資相關法規..........................................................................................6 第二節 文獻探討................................................................................................12 一、庫藏股減資..........................................................................................12 二、現金減資..............................................................................................15 第三節 研究假說..............................................................................................17 第叁章 研究方法........................................................................................................18 第一節 資料來源與樣本選取............................................................................18 第二節 事件研究法............................................................................................19 第三節 多元迴歸模型........................................................................................28 第四節 多元名義羅吉特迴歸模型....................................................................30 第肆章 實證結果與分析............................................................................................32 第一節 宣告效果之實證結果............................................................................32 第二節 敘述統計................................................................................................38 第三節 實證結果與分析....................................................................................42 一、多元迴歸分析......................................................................................42 二、多元名義羅吉特迴歸模型分析..........................................................46 第伍章 結論與建議....................................................................................................51 第一節 研究結果................................................................................................51 第二節 研究限制與建議....................................................................................52 參考文獻......................................................................................................................53 | zh_TW |
| dc.language.iso | en_US | - |
| dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0097357012 | en_US |
| dc.subject (關鍵詞) | 庫藏股減資 | zh_TW |
| dc.subject (關鍵詞) | 現金減資 | zh_TW |
| dc.subject (關鍵詞) | 減資因子 | zh_TW |
| dc.subject (關鍵詞) | 事件研究法 | zh_TW |
| dc.subject (關鍵詞) | 多元名義羅吉特迴歸模型 | zh_TW |
| dc.title (題名) | 庫藏股減資和現金減資宣告效果之比較 | zh_TW |
| dc.title (題名) | Comparison of The Announcement Effect of Stocks Repurchase and Cash Reduction | en_US |
| dc.type (資料類型) | thesis | en |
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