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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.

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Spelling suggestions: "subject:"stock underwriting"" "subject:"stock nderwriting""

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臺灣地區股票承銷之研究－增資新股超額報酬及承銷價影響因素之實證 / The Study of Stock Underwriting in Taiwan

王姿英, Wang, Tzu Ying Unknown Date (has links)
資本市場之目的在於匯集社會游資, 供給企業營運所需資金, 進而促進經 濟成長。欲達此一目標則有賴於承銷制度之健全, 及承銷機能的有效運作 。本文乃是探討股票承銷中有關增資新股申購人是否享有預期超額報酬, 及承銷價影響因素。運用之理論基礎為Black-Scholes 選擇權訂價公式, 及探討公司價值之訊息理論。經過實證測試, 發現增資新股申購人的確享 有預期超額報酬。而訊息理論並不太適用於臺灣實務現象, 所列入探討的 因素中, 唯有總資產達到0.01的顯著水準, 現金增資比率達0.15的顯著水 準, 此或為訊息須經轉換之故。
股票承銷
超額報酬
承銷價
訊息理論
Stock Underwriting
Exceeding Return
Offering Price
Signalling

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