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研究生(外文):Jia-Shin Liang
論文名稱(外文):The Impact of Ownership on the Cost of Repurchases
指導教授(外文):Cheng-Shou Lu
口試委員(外文):Cheng-Shou LuAnlin ChenLanfeng Kao
外文關鍵詞:Share RepurchasesOwnershipBoard of Dirctors
  • 被引用被引用:0
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This research aims to determine whether costs of repurchase are influence by board of directors, ownership structure, and investor sentiment. Also, the sample is domestic 2,693 companies which are listed and OTC-listed have repurchased programs during from January 1, 2001 to December 31, 2012.
The empirical result demonstrate that firm with better governance by board of directors have lower repurchase costs. Moreover, repurchase costs was also influenced by ownership structure. In addition, repurchased costs have negative significant with the measure of combing corporate government. In the result, supervising by board of director and ownership structure could efficiently decrease agency problems. Also, share repurchases program is good for shareholders who keep holding.

摘要 i
誌謝 iii
目錄 iv
表目錄 v
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 庫藏股購回相關文獻 5
第二節 研究假說與發展 17
第三章 研究方法 21
第一節 研究樣本資料來源 21
第二節 變數定義 25
第四章 實證分析 30
第一節 敘述性統計分析 30
第二節 公司治理與庫藏股購回成本 41
第五章 結論與建議 51
第一節 研究結果 51
第二節 研究限制與建議 52
參考文獻 53

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