English  |  正體中文  |  简体中文  |  Items with full text/Total items : 6491/11663
Visitors : 24486415      Online Users : 75
RC Version 3.2 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Adv. Search
LoginUploadHelpAboutAdminister

Please use this identifier to cite or link to this item: http://ir.ncue.edu.tw/ir/handle/987654321/13349

Title: 三商銀民營化之進程與其股價之變動
Privatization of Public-Owned Banks and Stock Returns---Evidence from Taiwan
Authors: 林哲鵬
Contributors: 企業管理學系
Keywords: 公營銀行;民營化;宣告效果;事件分析;股價變動;Public bank;Privatization;Price effect;Event study;Stock price change
Date: 1999-08
Issue Date: 2012-08-13T02:09:06Z
Publisher: 行政院國家科學委員會
Abstract: 本研究以三商銀民營化之漸進過程為研究主體,觀察各類關於三商銀民營化之訊息,是否具有宣告效果,亦即,相關之各類訊息,是否造成三商銀股票之市場價格產生顯著的變化。基本上,關於民營化之訊息可分為正面與負面兩種,一為預期民營化後效率提昇而產生正效果,另一為民營化所連帶之釋股,因預期未來短時間內市場胃納不足,而造成的負效果。研究結果發現,三商銀民營化之相關訊息宣告,在市場上產生顯著之正價格效果,並且,此超額報酬在訊息的見報日即反映在市場上。據此推知,台灣投資人對於三商銀等公營事業的民營化,多抱持經營效率提昇之預期,此一結果可作為未來其他公營機構規劃民營化時之參考。
This study investigates if there is a price effect around the dates when privatization-related information of public-owned commercial banks in
Taiwan is published on newspapers. After an event study methodology is applied, a positive price effect is observed. The result implies that
investors expect the emergence of more efficient and competitive commercial banks after privatization.
Relation: 國科會計畫; 計畫編號:NSC89-2416-H035-014; 研究期間:88/08-89/07
Appears in Collections:[企業管理學系] 國科會計畫

Files in This Item:

File SizeFormat
2060200712002.pdf33KbAdobe PDF381View/Open


All items in NCUEIR are protected by copyright, with all rights reserved.

 


DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback