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題名:企業使用衍生性金融商品避險之動機分析:以臺灣上市上櫃電子業公司為例
書刊名:臺灣企業績效學刊
作者:林筱鳳林問一劉亞秋 引用關係
作者(外文):Lin, Hsiao-fengLin, Wen-yiLiu, Angela Ya-chiu
出版日期:2011
卷期:4:2
頁次:頁201-214
主題關鍵詞:匯率風險衍生性金融商品避險Exchange rate riskDerivativesHedge
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(1) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:1
  • 共同引用共同引用:22
  • 點閱點閱:90
企業在國際化之下,營運活動與進出口關聯甚大的電子業更增加了匯率波動之風險,企業進行避險之決策因素甚多,本研究主要探討台灣上市上櫃電子業公司使用衍生性金融商品避險之動機。實證結果顯示,企業海外營運活動越多、規模越大、財務危機發生機率越高及經理人持股比例越高之企業,越傾向使用衍生性金融商品避險;然而,成長性投資機會比率越高的企業與使用衍生性金融商品避險之動機則呈顯著負相關。
We examine the motives of using derivatives to hedge in Taiwan public electronic industry. The results the degree of risk exposure in overseas activities, the size of firms, the financial-distress and shares holding percentage of managers were all significantly supported by the result, but growth investing options was opposite to expectation.
期刊論文
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