臺灣人文及社會科學引文索引資料庫系統

:::

詳目顯示

回上一頁
第 1 筆 / 總合 1 筆   第一頁 上一頁 下一頁 最後一頁
/1頁
題名：法人說明會資訊在供應鏈中之垂直資訊移轉效果：以臺灣之半導體產業供應鏈為例
書刊名：臺大管理論叢
作者：粘凱婷／金成隆／周濟群 引用關係／汪戊安
作者(外文)：Nien, Kai-ting／Chin, Chen-lung／Chou, Chi-chun／Wang, Wu-an
出版日期：2016
卷期：26:3
頁次：頁1-34
主題關鍵詞：法人說明會；供應鏈；累積異常報酬；垂直資訊移轉；Conference call；Supply chain；Accumulated abnormal return；Vertical information transfer
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(2) 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:2
  • 共同引用共同引用:25
  • 點閱點閱:21
本研究分別探討台灣半導體產業法人說明會（法說會）中的財務資訊和非財務資訊在供應鏈中資訊傳遞的效果。實證發現，法說會所揭露之財務資訊與非財務資訊在供應鏈中皆存在垂直資訊移轉效果；且法說會同時揭露財務資訊與非財務資訊時，具有資訊加乘效果，具有更多資訊內涵。而供應鏈層級越遠，則該法說會之資訊愈具有資訊內涵；實證結果更進一步發現，財務資訊與非財務資訊皆因層級距離愈遠而愈具有資訊內涵，但相較於財務資訊而言，非財務資訊則需要較多的時間消化分析才能顯著反應於層級距離較遠的供應鏈公司之累積異常報酬。
Focusing on the semiconductor industry in Taiwan, we hypothesize that the market gives a premium for firms whose upstream firms disclose favorable news through conference calls, regardless of whether it is financial or nonfinancial information. We find that firms’ accumulative abnormal returns (thereafter CAR) are positively associated with both unexpected earnings forecasts and nonfinancial information contained in conference calls held by upstream firms. We further find that the CAR is positively related to the echelon distance of the firms. Finally, we also find that firms need more time to digest the information contained in conference calls held by their upstream firms as the echelondistance between the two firms along the supply chain becomes greater.
期刊論文
1.Francis, J. R.、Khurana, I. K.、Pereira, R.(2005)。Disclosure Incentives and Effect on Cost of Capital Around the World。The Accounting Review，80(4)，1125-1162。  new window
2.Kimbrough, M. D.(2005)。The Effect of Conference Calls on Analyst and Market Underreaction to Earnings Announcements。The Accounting Review，80(1)，189-219。  new window
3.Han, J. Y.、Wild, J.(1990)。Unexpected Earnings and Intraindustry Information Transfers: Further Evidence。Journal of Accounting Research，28(1)，211-219。  new window
4.Frankel, Richard、Johnson, Marilyn、Skinner, Douglas J.(1999)。An empirical examination of conference calls as a voluntary disclosure medium。Journal of Accounting Research，37(1)，133-150。  new window
5.Cohen, Lauren、Frazzini, Andrea(2008)。Economic Links and Predictable Returns。The Journal of Finance，63(4)，1977-2011。  new window
6.Seguin, Paul J.、Bessembinder, Hendrik、Chan, Kalok(1996)。An Empirical Examination of Information, Differences of Opinion, and Trading Activity。Journal of Financial Economics，40(1)，105-134。  new window
7.Metters, Richard(1997)。Quantifying the Bullwhip Effect in Supply Chains。Journal of Operations Management，15(2)，89-100。  new window
8.Battezzati, L.、Magnani, R.(2000)。Supply chains for FMCG and industrial products in Italy: Practices and the advantages of postponement。International Journal of Physical Distribution and Logistics Management，30(5)，413-424。  new window
9.Fargher, N. L.、Weigand, R. A.(1998)。Changes in the stock price reaction of small firms to common information。Journal of Financial Research，21(1)，105-121。  new window
10.Lee, H. L.、Padmanabhan, V.、Whang, S.(2004)。Information distortion in a supply chain: The bullwhip effect。Management Science，50(12)，1875-1886。  new window
11.Mayew, Willan、Venkatachalam, Mohan(2012)。The power of voice: Managerial affective states and future firm performance。The Journal of Finance，67(1)，1-44。  new window
12.Pandit, S.、Wasley, S.、Zach, T.(2011)。Information externalists along the supply chain: The economic determinants of suppliers' stock price reaction to their customers' earnings announcements。Contemporary Accounting Research，28(4)，1304-1343。  new window
13.Tasker, S.(1998)。Bridging the information gap: Quarterly conference call as a medium for voluntary disclosure。Review of Accounting Studies，3(1/2)，137-167。  new window
14.李建然、廖秀梅、賴柏錚(20050800)。法人說明會之資訊內涵及公平性。中華管理評論，8(3)，(1)1-(1)18+(1)1_1。  延伸查詢new window
15.Baganha, M. P.、Cohen, M. A.(1998)。The stabilizing effect of inventory in supply chains。Operations Research，46(3)，S72-S83。  new window
16.Baginski, S. P.(1987)。Intraindustry information transfers associated with management forecasts of earnings。Journal of Accounting Research，25(2)，196-216。  new window
17.Chin, C. L.、Lee, P.、Wang, P. W.、Kleinman, G.(2007)。Does innovation matter to conference calls?。IEEE Transactions on Engineering Management，54(4)，1-18。  new window
18.Francis, J.、Nanda, D.、Olsson, P.(2008)。Voluntary Disclosure, Earnings Quality, and Cost of Capital。Journal of Accounting Research，46(1)，53-99。  new window
19.Freeman, R.、Tse, S.(1992)。An earnings prediction approach to examining intercompany information transfers。Journal of Accounting and Economics，15(4)，509-523。  new window
20.Kahn, J. A.(1987)。Inventories and the volatility of production。The American Economic Review，77(4)，667-679。  new window
21.Kimbrough, M. D.、Louis, H.(2011)。Voluntary disclosure to influence investor reactions to merger announcements: An examination of conference calls。The Accounting Review，86(2)，637-667。  new window
22.Lee, Hau L.、Padmanabhan, V.、Whang, Seungjin(1997)。The bullwhip effect in supply chains。Sloan Management Review，38(3)，93-102。  new window
23.Lee, Hau L.、Padmanabhan, V.、Whang, Seungjin(1997)。Information distortion in a supply chain: The bullwhip effect。Management Science，43(4)，546-580。  new window
24.Olsen, Chris、Dietrich, Richard J.(1985)。Vertical information transfers: The association between retailers' sales announcements and suppliers' security returns。Journal of Accounting Research，23，144-166。  new window
25.Ramnath, Sundaresh(2002)。Investor and analyst reactions to earnings announcements of related firms: an empirical analysis。Journal of Accounting Research，40(5)，1351-1376。  new window
26.Jegadeesh, Narasimhan、Titman, Sheridan(1995)。Overreaction, delayed reaction and contrarian profits。The Review of Financial Studies，8(4)，973-993。  new window
27.金成隆、林美鳳、梁嘉紋(20080400)。公司治理解構和法人說明會之關連性研究。管理學報，25(2)，221-243。new window  延伸查詢new window
28.Foster, G.(1981)。Intra-industry information transfers associated with earnings releases。Journal of Accounting and Economics，3(3)，201-232。  new window
29.Han, J. C. Y.、Wild, J. J.、Ramesh, K.(1989)。Managers' Earnings Forecasts and Intra-Industry Information Transfers。Journal of Accounting and Economics，11(1)，3-33。  new window
30.Lo, Andrew W.、MacKinlay, A. Craig(1990)。When Are Contrarian Profits Due to Stock Market Overreaction?。The Review of Financial Studies，3(2)，175-205。  new window
31.McQueen, Grant、Pinegar, Michael、Thorley, Steven(1996)。Delayed reaction to good news and the cross-autocorrelation of portfolio returns。The Journal of Finance，51(3)，889-919。  new window
32.黃瓊慧、李先莉、單騰笙(20090900)。Management Earnings Forecasts Information Transfers between Related Industries: Evidence from Taiwan。臺大管理論叢，19(S2)，195-214。new window  延伸查詢new window
33.金成隆、紀信義、林裕凱(20051000)。強制性財務預測與法人說明會關聯性之研究。管理學報，22(5)，629-651。new window  延伸查詢new window
34.Easley, David、O'hara, Maureen(2004)。Information and the cost of capital。The Journal of Finance，59(4)，1553-1583。  new window
35.Erkens, David H.、Hung, Mingyi、Matos, Pedro P.(2012)。Corporate governance in the 2007-2008 financial crisis: Evidence from financial institutions worldwide。Journal of Corporate Finance，18(2)，389-411。  new window
36.Bushee, Brian J.、Matsumoto, Dawn A.、Miller, Gregory S.(2003)。Open versus Closed Conference Calls: The Determinants and Effects of Broadening Access to Disclosure。Journal of Accounting and Economics，34(1/3)，149-180。  new window
37.Brunnermeier, Markus K.(2009)。Deciphering the liquidity and credit crunch 2007-2008。Journal of Economic Perspectives，23(1)，77-100。  new window
38.Bowen, Robert M.、Davis, Angela K.、Matsumoto, Dawn A.(2002)。Do Conference Calls Affect Analysts' Forecasts?。The Accounting Review，77(2)，285-316。  new window
39.Matsumoto, Dawn A.、Pronk, Maarten、Roelofsen, Erik(2011)。What Makes Conference Calls Useful? The Information Content of Managers' Presentations and Analysts' Discussion Sessions。The Accounting Review，86(4)，1383-1414。  new window
研究報告
1.Sunder, S. V.(2002)。Investor Access to Conference Call Disclosure: Impact of Regulation Fair Disclosure on Information Asymmetry。Tucson, AZ：University of Arizona。  new window
圖書
1.Salton, G.、McGill, M. J.(1986)。Introduction to Modern Information Retrieval。McGraw-Hill。  new window
 
 
 
 
第一頁 上一頁 下一頁 最後一頁 top
:::
無相關書籍
 
無相關著作
 
QR Code
QRCODE

臺灣人文及社會科學引文索引資料庫

目前上線人數：754（臺灣：744，外國：10） ／ 本年度總使用人次：2687178 ／ 訪客人次（自102年09月）：68480352
國家圖書館著作權聲明 Copyright © 2013 All rights reserved.
本館地址: 100201臺北市中山南路20號． 本館地圖及交通資訊．
總機：(02)23619132．最佳瀏覽解析度為1024x768以上