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博碩士論文 etd-0715105-230107 詳細資訊
Title page for etd-0715105-230107
論文名稱
Title
台灣資訊科技產業的融資順位研究
A study on pecking order followers in IT industry in Taiwan
系所名稱
Department
畢業學年期
Year, semester
語文別
Language
學位類別
Degree
頁數
Number of pages
45
研究生
Author
指導教授
Advisor
召集委員
Convenor
口試委員
Advisory Committee
口試日期
Date of Exam
2005-06-05
繳交日期
Date of Submission
2005-07-15
關鍵字
Keywords
資訊科技產業、資本結構、財務槓桿、融資順位理論
Leverage, Pecking order theory, IT industry, Capital structure
統計
Statistics
本論文已被瀏覽 5737 次,被下載 15
The thesis/dissertation has been browsed 5737 times, has been downloaded 15 times.
中文摘要
本論文基於對依循融資順位理論公司的假設,認為其於公司財務上的特性應顯著異於非依循融資順位者。決定財務行為的因子已超越傳統認知的不對稱資訊因素。取樣於台灣的資訊科技產業,我們歸納出:依循融資順位理論公司通常具有高獲利率,現金充足,及其他廣為認定的特性。
Abstract
This paper puts forward the hypothesis that the characteristics of followers of the pecking order theory of capital structure are explicitly distinct from those of non-followers. The factors determining financing behavior are far beyond the conventional perception of asymmetric information. Sampling from the IT industry in Taiwan, we observe that pecking order followers are associated with higher profitability, adequate cash, and other broadly recognized variables.
目次 Table of Contents
1. Introduction 1
1.1 Research Motivation 1
1.2 Study Purposes and Process 1
2. Literature Review 3
2.1 Pecking Order Theory 3
2.2 Prior Work on Empirical Tests 5
2.3 Industry Background 6
3. Research Resign 12
3.1 Data and Sampling 12
3.2 Grouping of Pecking Order Tendency 12
3.3 Regression Tests for Pecking Order 15
4. Empirical Analyses 19
4.1 Financial Statements of IT industry 19
4.2 Pecking Order Tests for Groups 20
4.3 Descriptive Statistics of Characteristics 23
4.4 Regression Test of Key Variables 29
5. Conclusions 32
Appendix 33
References 37
參考文獻 References
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