| dc.contributor | 財管系 | |
| dc.creator (作者) | 湛可南;胡星陽;王衍智 | zh_TW |
| dc.creator (作者) | Chan, Konan | |
| dc.date (日期) | 2003 | |
| dc.date.accessioned | 8-Jan-2015 17:49:35 (UTC+8) | - |
| dc.date.available | 8-Jan-2015 17:49:35 (UTC+8) | - |
| dc.date.issued (上傳時間) | 8-Jan-2015 17:49:35 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/72690 | - |
| dc.description.abstract (摘要) | In this paper, we examine the relationship among cash flow rights, investment opportunities and firm values. We find that the opportunities to invest positive NPV projects will eliminate the positive effect of cash flow rights on firm values. However, when cash flow rights are relatively low, investment opportunities will not affect the positive relationship between cash flow rights and firm values. On the other hand, when cash flow rights are relatively high, cash flow rights do not influence firm values given the investment opportunities. As a result, the impact of investment opportunities on the cash flow right effect depends on the level of cash flow rights. These results suggest a non-linear relationship between cash flow right of the controlling shareholder and firm valuation. | |
| dc.format.extent | 489920 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | Academia Economic Papers (經濟論文), 31(3), 301-331 | |
| dc.title (題名) | When will the controlling shareholder expropriate investors? Cash flow right and investment opportunity perspectives | |
| dc.type (資料類型) | article | en |
