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題名:影響臺灣廠商上市因素之分析
書刊名:臺灣企業績效學刊
作者:林滄朗王明輝
作者(外文):Lin, Chang LangWang, Ming-hui
出版日期:2017
卷期:10:2
頁次:頁163-184
主題關鍵詞:資本大眾化Logit迴歸子公司Going publicLogit modelFixed-effects regression
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(0) 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:0
  • 共同引用共同引用:30
  • 點閱點閱:10
本研究以國內廠商為研究對象,將樣本區分成獨立公司與上市公司之子公司二子樣本,分別作上市前與上市後的迴歸分析,探討影響國內廠商上市之因素。上市前分析主要發現:公司規模越大與權益報酬率越高,則其上市之機率越大;而負債比率不為影響子公司上市的關鍵因素。上市後的分析則發現,公司為了因應未來投資成長的融資需求而上市。
This study analyzes the determinants of initial public offerings (IPOs) by comparing the ex ante and ex post characteristics of IPOs with those of private firms for Taiwan firms. From analysis of the ex ante determinants, the major findings are that firm’s size and profitability appear to be the significant determinants of the probability of listing and firm’s debt is not a positive impact on the probability of going public for subsidiaries of listed firms. From analysis of the ex post consequences of an IPO, the major finding is that firms are motivated to go public for financing needs of future investments.
期刊論文
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3.Zingales, L.(1994)。The Value of the Voting Right: A Study of the Milan Stock Exchange Experience。The Review of Financial Studies,7(1),125-148。  new window
4.Ritter, J. R.(1987)。The costs of going public。Journal of Financial Economics,19(2),269-281。  new window
5.Brennan, M. J.、Franks, J.(1997)。Underpricing, ownership and control in initial public offerings of equity securities in the UK。Journal of Financial Economics,45(3),391-413。  new window
6.Datta, S.、Datta, M. I.、Patel, A.(2000)。Some evidence on the uniqueness of initial public debt offerings。Journal of Finance,55(2),715-743。  new window
7.Kadlec, G. B.、McConnell, J. J.(1994)。The effect of market segmentation and illiquidity on asset prices: Evidence from exchange listing。Journal of Finance,49(2),611-636。  new window
8.Mikkelson, W. H.、Partch, M. M.、Shah, K.(1997)。Ownership and Operating Performance of Companies That Go Public。Journal of Financial Economics,44(3),281-307。  new window
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13.Pagano, Marco、Röell, Ailsa(1998)。The Choice of Stock Ownership Structure: Agency Costs, Monitoring, and The Decision To Go Public。The Quarterly Journal of Economics,113(1),187-225。  new window
14.Lerner, J.(1994)。Venture capitalists and the decision to go public。Journal of Financial Economics,35(3),293-316。  new window
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16.Jain, Bharat A.、Kini, Omesh(1994)。The Post-Issue Operating Performance of IPO Firms。Journal of Finance,49(5),1699-1726。  new window
17.Leland, Hayne E.、Pyle, David H.(1977)。Informational Asymmetries, Financial Structure, and Financial Intermediation。The Journal of Finance,32(2),371-387。  new window
18.Loughran, Tim、Ritter, Jay R.(1995)。The New Issues Puzzle。The Journal of Finance,50(1),23-51。  new window
19.吳韻儀(1999)。寫下另類經營典範。天下雜誌,213,54-58。  延伸查詢new window
20.林炯垚、蘇慧芬(19931000)。新上市公司上市前後年度盈餘窗飾之研究。國立政治大學學報,67(下),553-586。  延伸查詢new window
21.葉匡時、黃振聰、劉韻僖(19951100)。衡量企業體質透視階段需求--公司上市(櫃)的原因與過程。會計研究月刊,121,52-59。  延伸查詢new window
22.Bolton, P.、Thadden, E. L.(1998)。Blocks, liquidity, and corporate control。Journal of Finance,53(1),1-26。  new window
23.Campbell, T.(1979)。Optimal investment financing decisions and the value of confidentiality。Journal of Financial and Quantitative Analysis,14(4),913-924。  new window
24.Holmström, B.、Tirole, J.(1993)。Market liquidity and performance monitoring。Journal of Political Economy,101(4),678-709。  new window
25.Loughran, T.、Ritter, J. R.、Rydqvist, K.(1994)。Initial public offerings: International insight。Pacific-Basin Finance Journal,2(2),165-199。  new window
26.Merton, R. C.(1987)。Presidential address: A simple model of capital market equilibrium。Journal of Finance,42(3),483-510。  new window
27.Rajan, R. G.、Servaes, H.(1997)。The effect of market conditions on initial public offerings。Journal of Finance,52(2),507-529。  new window
28.Schipper, K.、Smith, A.(1986)。A comparison of equity carve-outs and seasoned equity offerings。Journal of Financial Economics,15(1/2),153-186。  new window
29.Zingales, L.(1995)。Insider ownership and the decision to go public。The Review of Economic Studies,62(4),425-448。  new window
30.Myers, Stewart C.(1977)。Determinants of Corporate Borrowing。Journal of Financial Economics,5(2),147-175。  new window
31.Ritter, Jay R.(1991)。The Long-run Performance of Initial Public Offerings。Journal of Finance,46(1),3-27。  new window
32.Ritter, Jay R.(1984)。The "Hot Issue" Market of 1980。Journal of Business,57(2),215-240。  new window
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研究報告
1.Chemmanur, Thomas、Fulghieri, Paolo(1995)。Information production, private equity financing, and the going public decision。Columbia University。  new window
學位論文
1.夏侯欣榮(1993)。臺灣地區新上市普通股承銷價格之研究(博士論文)。國立政治大學。new window  延伸查詢new window
2.林盈志(1998)。台灣公司股票上市原因之研究(碩士論文)。國立臺灣大學。  延伸查詢new window
圖書
1.Bower, B. L.、O'Connell, R. T.(1990)。Linear Statistical Models。Duxbury Press。  new window
圖書論文
1.顏吉利、劉恩棠(1994)。論新上市股票股東之報酬:短期現象乎?長期現象乎?。中國財務學會論文集。  延伸查詢new window
 
 
 
 
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