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題名:應募人類型對『資訊揭露與私募股權折價幅度』間關聯調節效果之研究
書刊名:東吳經濟商學學報
作者:歐陽豪 引用關係張震麟
作者(外文):Ou Yang, HouChang, Zhen-lin
出版日期:2014
卷期:87
頁次:頁53-95
主題關鍵詞:私募折價外部人士年報資訊揭露總分自願性年報資訊揭露強制性年報資訊揭露Private equity discountOutside investorsAnnual information disclosureVoluntary information disclosureMandatory information disclosure
原始連結:連回原系統網址new window
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  • 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:51
  • 點閱點閱:16
本研究以2004年至2011年底上市、上櫃公司合計之323件私募普通股與特別股折價發行事件為研究樣本,一方面驗證應募人類型對私募股權折價幅度之影響,其次檢驗年報資訊揭露、年報資訊揭露組成對私募股權折價幅度之影響。實證結果發現:『外部應募人』與『強制性資訊揭露』對『私募權益折價幅度』為顯著負向影響。在調節效果方面,『內部應募人』顯著增強『強制性資訊揭露與私募折價』間的負向關聯,『外部應募人』顯著減弱『年報資訊揭露與私募折價』間的負向關聯,尤其是『強制性資訊揭露與私募折價』間的負向關聯。
This study applies "Types of Investors" of 323 private placement of common shares and preferred stocks event as samples. Financial firm data covered the years 2004 through 2011 was acquired from the Taiwan Stock Exchange and Taiwan's OTC. One part of this study is to test the effects of "Types of Investors" on the "Private Equity Placement Discounting. The other part is to test the effects of "Annual Report Information Disclosure" and "Annual Report Information DisclosureCombination" on "Discount Rate of Private Equity PlacementDiscounting". The results of this study: "External Investors" and"Mandatory InformationDisclosure" significantly negative affect on "Discount Rate of Private Equity Placement Discounting". The moderating effects show that "Internal Investors" enhance the negative relationship between "Mandatory Information Disclosure and Private Equity Discounting". "Outside Investors" weaken the negative relationships between "Annual Report Information Disclosure and Private Equity Dis counting" and "Mandatory Information Disclosure and Private Equity Discounting".
期刊論文
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7.呂麒麟、洪嘉聲、周至文(2008)。股權結構對資訊揭露在每股盈餘變動下之影響: 以台灣上市公司為例。致遠管理學院學報,3,53-80。  延伸查詢new window
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19.陳一如(20090400)。創新能力與公司治理程度對多角化公司價值的影響:以臺灣電子業為例。管理評論,28(2),51-75。new window  延伸查詢new window
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會議論文
1.李宏志、賴秀卿、湯佩樺(2011)。應募人類型與私募股權折價。2011 第七屆企業國際化理論與實務研討會。長榮大學國際企業學系。  延伸查詢new window
2.陳維慈、劉啟群、張儒欣(2007)。股權私募之折價因素:資訊假說之再檢視。第十六屆會計理論與實務研討會,國立台北大學會計學系與中華會計教育學會 。  延伸查詢new window
3.歐陽豪、蕭志杰(2013)。應募人類型與私募股權折價幅度關聯之研究。2013 年商學與管理學術研討會。國立中興大學。  延伸查詢new window
學位論文
1.李協昌(2006)。上市公司私募股權之資訊內涵及折價因素之探討(碩士論文)。臺灣大學。  延伸查詢new window
2.劉家琳(2009)。私募普通股之折價幅度與私募時效性、自我利益及公司治理之關聯(碩士論文)。國立政治大學。  延伸查詢new window
3.謝敏鳳(2012)。股權私募的宣告及定價與公司價值的變化(碩士論文)。國立臺北大學。  延伸查詢new window
4.呂季蓉(2005)。台灣上市上櫃公司私募之研究--論私募對象之影響(碩士論文)。國立中山大學。  延伸查詢new window
 
 
 
 
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