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研究生:陳昭碩
研究生(外文):Chao-Shuo Chen
論文名稱:公司宣告產品回收對宣告者與競爭者的財富效果
論文名稱(外文):The Wealth Effect of Product Recall on Announcer and Industry Rivals
指導教授:陳聖賢陳聖賢引用關係
指導教授(外文):Sheng-Syan Chen
學位類別:碩士
校院名稱:元智大學
系所名稱:管理研究所
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2000
畢業學年度:88
語文別:中文
論文頁數:60
中文關鍵詞:事件研究產品回收產業競爭者
相關次數:
  • 被引用被引用:1
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本文利用事件研究法,針對產品回收事件加以研究,在以往的研究中公司宣告產品回收對於汽車製造業與化學製藥業的宣告者而言有顯著的負異常報酬,對同產業的競爭者卻沒有一致的結論,對於其他諸多產業的影響也一直沒有學者去探討,本研究利用1989-1998共10年間WSJ所報導的回收事件為樣本,針對不同產業的回收事件觀察產品回收事件對於宣告者與同產業競爭者是否有明顯的異常報酬?而所帶來的異常報酬為正、負?是否因不同產業的回收事件對於宣告者與同產業競爭者帶來不同的影響?另外又有那些因素對於同產業競爭對手的異常報酬有明顯的影響?作為本研究主要探討的重點。
根據實證發現,平均而言,不同產業的產品回收宣告對宣告者而言有明顯的負異常報酬,對競爭者而言有正的異常報酬,另外產業成長性、產業的自由現金流量(Free cash flow)對於競爭者的異常報酬有非常明顯的影響,產業成長性越高對於競爭者越有利,自由現金流量則正好相反,而產業的R&D強度與產業相似程度也有一定的影響程度,產業的R&D強度與產業相似程度越高對於競爭者越不利。

第一章、緒論1
第一節 研究背景與動機1
第二節 研究目的4
第二章 文獻探討5
第一節 有關汽車回收事件對宣告者影響的相關 文獻回顧5
第二節 有關汽車回收事件對競爭對手影響的相關文獻回顧12
第三節 藥品回收事件影響的相關文獻探討15
第四節 不同產業的產品回收研究20
第三章 研究方法與樣本21
第一節 樣本21
第二節 研究方法25
第三節 研究假設28
第四章 實證結果30
第一節 產品回收對宣告者的影響30
第二節 產品回收對同產業競爭者的影響35
第三節 產業特性變數44
第四節 橫斷面分析結果49
第五章 結論與建議53
第一節 結論53
第二節建議55

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