跳到主要內容

臺灣博碩士論文加值系統

(18.97.14.81) 您好!臺灣時間:2025/02/19 03:42
字體大小: 字級放大   字級縮小   預設字形  
回查詢結果 :::

詳目顯示

: 
twitterline
研究生:陳涵
研究生(外文):Han, Chen
論文名稱:經理人能力與媒體曝光如何影響公司財務績效
論文名稱(外文):Managerial Ability, Media Coverage, and Firm Performance
指導教授:林金龍教授池祥萱教授
指導教授(外文):Jin-Lung LinHsiang-Hsuan Chih
學位類別:碩士
校院名稱:國立東華大學
系所名稱:財務金融學系
學門:商業及管理學門
學類:財務金融學類
論文種類:學術論文
論文出版年:2017
畢業學年度:105
論文頁數:53
中文關鍵詞:經理人能力媒體曝光度公司財務績效
外文關鍵詞:Management abilityMedia CoverageFirm Performance
相關次數:
  • 被引用被引用:1
  • 點閱點閱:235
  • 評分評分:
  • 下載下載:7
  • 收藏至我的研究室書目清單書目收藏:0
本研究將公司綜合新聞報導分類至各種類型,研究其媒體曝光度對公司財務績效的影響,並結合財務理論及投資人行為偏誤,延伸探討是否能力愈好的經理人 (通才型經理人) 其愈有能力管理好負面及正面新聞媒體曝光。本文研究結果如下:第一,商業類負面事件對於經營績效及市場績效皆為顯著負向的;商業類正面事件對於經營績效及市場績效皆為顯著正向的,而公司與市場皆較重視股票價格類、勞工議題類及盈餘類的新聞。第二,市場投資人對於媒體曝光存在月暈偏誤 (Halo Bias) 以及尖角偏誤 (Horn Bias)。第三,能力愈好的經理人 (通才型經理人) 其媒體曝光次數愈多能夠提升公司財務績效;能力愈好的經理人 (通才型經理人) 愈有能力管理好負面及正面新聞媒體曝光。
This paper combines financial theory and investor behavior bias, we classify the company's comprehensive media coverage into various types, examine the impact of media coverage on the firm's performance. Furthermore, we combine the manager's ability to explore whether more general managerial ability (generalist CEOs) more able to manage the negative and positive news media coverage. The results of this paper are as follows: First, the firm's performance respond strongly negatively to negative events and strongly positively to positive events. In addition, both of the company and the market put emphasize on stock price news, labor issue news and earnings news. Second, Market investors who face the media coverage will exist the halo bias and the horn bias. Third, more general managerial ability (generalist CEOs) more media coverage will promote firm's performance. Besides, more general managerial ability (generalist CEOs) more able to manage the negative and positive news media coverage.
目錄
第一章 前言 ……………………………………………………………………………………………………1
第二章 文獻回顧
第一節 經理人能力與公司財務績效…………………………………………………………5
第二節 媒體曝光度與公司財務績效…………………………………………………………6
第三章 研究方法
第一節 資料來源及樣本選取………………………………………………………………………7
第二節 媒體曝光次數之衡量………………………………………………………………………7
第三節 經理人能力之衡量……………………………………………………………………………8
第四節 控制變數之衡量…………………………………………………………………………………9
第五節 統計方法與研究模型………………………………………………………………………9
第四章 實證結果與分析
第一節 樣本分布………………………………………………………………………………………………13
第二節 敘述統計與相關分析………………………………………………………………………15
第三節 經理人能力對於媒體新聞曝光度之影響…………………………………18
第四節 經理人能力對於公司財務績效之影響………………………………………20
第五節 媒體曝光度對於公司財務績效之影響………………………………………22
第六節 經理人能力與媒體曝光度對於公司財務績效之影響…………27
第五章 結論 ……………………………………………………………………………………………………31
參考文獻 …………………………………………………………………………………………………………………33
附錄 ……………………………………………………………………………………………………………………………53
李志宏,2016。看穿公司聲譽與盈餘宣告困局:從中擬定你在股市的投資策略,政大商業評論。

Barber, B.M., Odean T., 2008, All that glitters: The Effect of Attention and News on Buying Behavior of Individual and Institutional Investors, The Review of Financial Studies, 21, 785–818.

Bendisch, F., Larsen, G., and Trueman, M., 2013, Fame and Fortune: A Conceptual Model of CEO Brands, European Journal of Marketing, 47, 596–614.

Bushee, B.J., Core, J.E., Guay, W., and Wee, J., 2010, The Role of The Business Press as a Information Intermediary, Journal of Accounting Research, 48, 1–19.

Chang-Hyun, J., and Hyun-Chul, Y., 2011, Satisfaction, Corporate Credibility, CEO Reputation and Leadership Effects on Public Relationships, Journal of Targeting, Measurement and Analysis for Marketing, 19, 127–140.

Chava, S., and Purnanandam, A., 2010, CEOs versus CFOs: Incentives and Corporate Policies, Journal of Financial Economics, 97, 263 – 278.

Custódio, C., Ferreira, M.A., and Matos, P., 2013, Generalists Versus Specialists: Lifetime Work Experience and Chief Executive Officer Pay, Journal of Financial Economics, 108, 471–492.

De Long, J.B., Shleifer, A., Summers, L.H., Waldmann, R.J., 1990, Noise Trader Risk in Financial Markets, Journal of Political Economy, 98, 703–738.

Demerjian, P., B. Lev, and S. McVay, 2012, Quantifying Managerial Ability: A New Measure and Validity Tests, Management Science, 58 (7), 1229-1248.

Dick, A., and Basu, K., 1994, Customer Loyalty: Toward an Integrated Conceptual Framework, Journal of the Academy of Marketing Science, 22 (2), 99-113.

Dyck, A., and L. Zingales., 2002, The Corporate Governance Role of the Media, Working Paper.

Eisfeldt, A., and Papanikolaou, D., 2013, Organization Capital and the Cross–section of Expected returns, Journal of Finance , 68,1365–1406.

Frankel, R., and Li, X., 2004, Characteristics of a Firm’s Information Environment and the Information Asymmetry between Outsiders and Insiders, Journal of Accounting & Economics, 37, 229–59.

Grullon, G., and Michaely, R., 2004 , The Information Content of Share Repurchase Programs, Journal of Finance, 59, 651–680.

Healy, P., and K. Palepu, 1988, Earnings Information Conveyed by Dividend Initiations or Omissions, Journal of Financial Economics, 21, 149–175.

Jensen, M., 1986, Agency Cost of Free Cash Flow, Corporate Finance, and Takeovers, American Economic Review, 76 (2), 323–329.

Lakonishok, J., and Vermaelen, T., 1990, Anomalous Price Behavior around Repurchase Tender Offers. Journal of Finance, 45, 455–477.

Mishra, D.R., 2014, The Dark Side of CEO Ability: CEO General Managerial Skills and Cost of Equity Capital, Journal of Corporate Finance, 29, 390-409.

Murphy, Kevin J., and Zabojnik, J., 2007, Managerial Capital and the Market for CEOs, working paper.

Neuhierl, A., Scherbina, A., and Schlusche, B., 2013, Market Reaction to Corporate Press Releases, Journal of Financial and Quantitative Analysis, 48, 1207–1240.

Nguyen, N. and Leblanc, G., 2001, Corporate Image and Corporate Reputation in Customers' Retention Decisions in Services, Journal of Retailing and Consumer Service, 8, 227-236.

Souiden, N., Kassim, N.M. and Hong, H., 2006, The Effect of Corporate Branding Dimensions on Consumers’ Product Evaluation: A Cross-cultural Analysis, European Journal of Marketing, 40 (7/8), 825–845.

Nisbett, R.E., and Wilson, T.D., 1977, The Halo Effect: Evidence for Unconscious Alterations of Judgments, Journal of Personality and Social Psychology, 35, 250-2.

Subrahmanyam, A., 2008, Behavioral Finance: A Review and Synthesis, European Financial Management, 14 (1), 12–29.

Yoon, P.S., and Starks, L.T., 1995, Signaling, Investment Opportunities, and Dividend Announcements, Review of Financial Studies, 8, 995–1018.
連結至畢業學校之論文網頁點我開啟連結
註: 此連結為研究生畢業學校所提供,不一定有電子全文可供下載,若連結有誤,請點選上方之〝勘誤回報〞功能,我們會盡快修正,謝謝!
QRCODE
 
 
 
 
 
                                                                                                                                                                                                                                                                                                                                                                                                               
第一頁 上一頁 下一頁 最後一頁 top