碩士 / 銘傳大學 / 管理研究所 / 95 / This research employs event study’s market model to explore the impact on stock market returns when companies announce issuing convertible bonds on domestic and foreign markets on the board of director’s meeting date and the issuing date. The main difference between this research and the previous ones is that it incorporates not only domestic CB but also Euro CB. In addition, this research will categorize the underlying companies according to their industries, credit rating, size of the underlying industry, use of capital, EPS and P/E ratio in order to study which factors will influence the performance of the stock return when a company issues convertible bonds.
The result reveals that companies announce issuing convertible bonds on domestic and foreign markets on the board of director’s meeting date are negative abnormal returns and positive abnormal returns on the issuing date. Therefore, investors treat that issuing convertible bonds as a bad signal on the board of director’s meeting date. However, except the size of the underlying industries, use of capital, credit rating, other factors such as EPS and P/E ratio all provide significant impact on the stock returns.
| Identifer | oai:union.ndltd.org:TW/095MCU05457006 |
| Date | January 2007 |
| Creators | Yu-Lu Liao, 廖幼如 |
| Contributors | Hui-Chen Chiang, Yih-Ching Tsaih, 江慧貞, 蔡義清 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 69 |
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