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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

股權結構對公司公開舉債與銀行借款影響之研究

陳姿廷 Unknown Date (has links)
本研究主要探討上市公司股權結構對其公開舉債與銀行借款餘額之影響。其著眼點乃在於過去關於公司公開舉債與銀行借款決策的相關研究,大多以資訊不對稱的觀點來分析上市公司如何決定其舉債來源,鮮少針對內部人對控制權的考量對公司舉債決策的影響。因此,本研究除了考量影響舉債決策的資訊不對稱成本與發行成本外,並將不同的股權結構變數納入模型中,嘗試分析不同的股權結構變數與公司舉債決策間是否具關聯性。 本研究採用四個股權結構變數:董監持股比率、內部人持股比率、非關係企業法人持股比率以及家族因素,分別驗證其對公司直接與間接舉債決策的影響,實證結果發現: 1.董監事持股比率、內部人持股比率與銀行借款比率成負向關係,與公開舉債比率成正向關係。內部人為了維持其控制權的優勢,避免將公司內部資訊透露給外部人,在選擇其舉債來源時,會傾向於採取監督機制相對較弱的公開舉債方式,而避免向銀行借款,藉此降低銀行的監督制衡力量。 2.考量內部人與董監事持股後,家族公司與否對公司舉債方式的選擇沒有影響力。顯示內部人持股與董監事持股已能完整表達股權結構對公司舉債決策的影響,家族公司對控制權維持的態度與其他公司無異。 3.非關係企業法人持股率與銀行借款比率成負向關係,與公開舉債比率成不顯著的負向關係。由於機構投資人的專業知識較一般散戶投資人高,對於公司的監督機制也較強,因此,機構投資人持股比率高的公司,其經營者基於維持控制權的考量,會傾向減少銀行借款,以避免另一股監督力量介入公司經營。 4.其他控制變數: (1)代表成長機會的營收成長率、與銀行借款比率成正向關係,顯示因資訊不對稱所產生的負債代理成本愈高的公司,傾向於向銀行借款以降低其成本。 (2)固定資產比率與銀行借款比率成正相關,與公開舉債比率成負相關。由於固定資產比率可代表資產清算價值,以及公司產生資產替代的代理變數,實證結果顯示清算效率的考量大於資產替代可能性的考量。 (3)資產規模與公開舉債比率成正相關。發行成本具有規模經濟的特性,故規模愈大的公司愈會傾向於公開舉債。
2

公私協力與自主規制之研究—兼論消防火災預防行政 / A Study in the Public Private Partnership and Self-Regulation

郭貞君, Kuo, Chen Chun Unknown Date (has links)
在各國政府部門為減輕財政負擔、提高行政效能,紛紛引進民間資源並與私部門建立夥伴關係之全球性風潮推波助瀾下,我國近年亦力倡政府瘦身、組織精簡、引用民力、公私協力。再者,運用民力參與公共任務之公私協力,寓有私部門自主規制成分,惟法學上自主規制與公私協力通常為分離探討之論題,兩者之關連性究為何;又兩者態樣眾多且無普世同意之定義,在多元分殊之學理及實務中,是否存在共通並行之法理脈絡與類型系譜,誠屬行政法總論上饒富逸趣之課題。另行政法各論上,為預防火災以維護公共安全並確保人民生命財產,各國莫不多方運用公私協力與自主規制,建構建築物之消防安全管理制度,惟綜觀國內有關公私協力與自主規制之法學論著尤以前者可謂繁花錦簇,事涉公共安全之消防火災預防行政領域相關研究則付諸闕如猶待開拓。 本文爰透過中外文獻梳理公私協力與自主規制法學理論,並放眼國際取樣研究運用公私協力與自主規制之消防行政實務規範,以歐盟與英國為取法對象,就消防安全管理制度硬體層面及軟體層面分別探討歐盟產品(兼及建築產品[再兼及消防安全設備產品])監管機制以及英國建築物防火安全管理機制。除解析法理基礎更探究實務規範架構於我國與先進國家之異同,期許回饋提供公私協力與自主規制所涉行政法理論若干啟示並促使本國相關消防行政規範更趨周全。 / In the wake of global trend of government department introducing private resources and establishing partnerships with private sectors to reduce financial burden and improve administrative efficacy, Taiwan authorities in recent years have also been advocating government downsizing, streamlining organizations, adopting private resources, and public private partnership. Furthermore, public private partnership contains private sector’s self-regulation element, but in jurisprudential circle, self-regulation and public private partnership are usually independently researched topics, what are the exact relationships between them; otherwise, each of both has great variety of types and has not universally consented definition, therefore, it seems to be an issue full of keen interest for General Administrative Law: whether there exists common legal context and typological pedigree in the pluralistic and divergent theories and practices of public private partnership and self-regulation. Besides, as regards Specific Administrative Law, in order to prevent fires for protecting public safety and people's lives and property, countries all over the world utilize various approaches to public private partnership and self-regulation, to construct fire protection management regime for buildings; the domestic juristic studies of public private partnership and self-regulation have overall fruitful achievements, especially the former, however, apparently none of them refers to fire protection administrative category that thus eagerly needs to be cultivated. This thesis wherefore sorted domestic and foreign juristic literature about public private partnership and self-regulation, and combed internationally relative fire protection administrative legislation. Focusing on legislation of European Union and United Kingdom, it separately explored hardware dimension and software dimension of fire protection management regimes, that is, EU’s product safety and market surveillance regime (involving that for construction product [further involving that for fixed fire fighting equipment]) and UK’s fire safety regime. In addition to analyzing the legal theories and exploring the similarities and differences of legislative framework between EU or UK and Taiwan, it expects to provide several revelations to the jurisprudence of public private partnership and self-regulation, and to actuate the relative domestic fire protection legislation more comprehensively.

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