臺灣博碩士論文加值系統

By use of traditional regression analysis, this study investigates the explanatory power of several factors on the capital structure of the three biggest telecom companies in Taiwan. The study extends empirical work on capital structure through Granger causality to determine whether it is, for instance, the firm size that affects the choice of capital structure or a firm's choice of capital structure that affect its firm size. In the traditional regression analysis, confirming the pecking order model, more profitable firms have lower debt ratio. Consistent with most literatures, collateral value of tangible assets has a positive effect on debt ratio. The effect of firm size is ambiguous. Results of Granger causality between variables have different implications for the selected companies. Overall this study provides some useful information of capital structure of the telecom industry in Taiwan.

Chapter 1 Itroduction………………………………………………… 1
Chapter 2 Theory of Capital Structure and Literature
Review……………………………………………………………9
Chapter 3 Determinants of Capital Structure and Research
Methods…………………………………………………………16
Chapter 4 Results and Discussions………………………………… 30
Chapter 5 Summary and Conclusion…………………………………………………………………… 52
References…………………………………………………………………… 54
Appendix 1…………………………………………………………………… 57

【中文】
1.中華電信股份有限公司96年度年報。
2.台灣大哥大股份有限公司96年度年報。
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6.張炯滄，2005，「中華航空公司資本結構影響因素之探討」，政治大學商學院經營管理碩士學程碩士論文。
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【英文】
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