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研究生:周魁倫
研究生(外文):Kuei-Lun Chou
論文名稱:臺灣初次上市櫃公司績效之再檢定-熱市發行與盈餘管理
指導教授:魏慧珊魏慧珊引用關係
學位類別:碩士
校院名稱:南台科技大學
系所名稱:會計資訊系
學門:商業及管理學門
學類:會計學類
論文種類:學術論文
畢業學年度:101
語文別:中文
中文關鍵詞:初次上市櫃公司初始報酬長期績效不佳盈餘管理熱市發行
相關次數:
  • 被引用被引用:1
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  • 下載下載:50
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國外文獻認為「盈餘管理」與「熱市發行」皆是造成初次上市櫃公司初始報酬過高但長期績效不佳的原因,故本文以2001至2008年間臺灣初次上市櫃公司為研究樣本,探討盈餘管理與熱市發行現象是否亦存在於臺灣初次上市櫃市場。實證結果發現,我國初次上市櫃公司進行盈餘管理與熱市發行皆有顯著較高的初始報酬,並且,在控制盈餘管理之影響後,熱市發行仍有顯著較高的初始報酬率。然而,長期績效不佳之現象僅存在於積極盈餘管理的公司,並不存在於熱市發行的公司。這些結果隱含,初次上市櫃公司初始報酬過高主要來自熱市發行的影響,而長期股價績效不佳之現象則主要來自盈餘管理的影響。
摘要 i
目次 iii
表目錄 iv
第一章 緒論 1
第二章 文獻回顧與探討 5
2.1 IPO公司績效 5
2.2盈餘管理 7
2.3熱市發行 10
第三章 研究假說 12
3.1初始報酬率 12
3.2長期股價績效 14
第四章 研究方法 16
4.1盈餘管理之衡量 16
4.2市場情況之衡量 18
4.3初始報酬之衡量 19
4.4長期績效之衡量 19
第五章 樣本與實證結果 22
5.1資料來源與樣本 22
5.2盈餘管理與發行市場狀況 23
5.3實證結果 26
第六章 結論 34
參考文獻 35
陳慶隆(2011),「初次上市櫃公司盈餘報導行為與上市 (櫃) 後股價績效之關係」,證券市場發展季刊,第二十三卷第二期,63-130。
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