Please use this identifier to cite or link to this item:
標題: 私募股權之營運績效與股票報酬-策略性投資人與治理結構之影響
Operating Performance and Stock Return Following Private Equity Placement-The Effect of Strategic Investors and Governance Structure
作者: 陳俊合
關鍵字: 基礎研究;private equity placement;經濟學;私募股權;營運績效;股票報酬;公司治理;策略投資人;operating performance;stock return;corporategovernance;strategic investors

This study investigates whether long-run operating performance is improving followingprivate equity placement, or the same results as prior foreign studies of long-rununderperformance following private equity placement existed. Furthermore, this studyexamines the factors influencing long-run operating performance of private equity offeringfirms. In addition, this research examines short-run and long-run stock performance followingprivate equity placement. Whether there exists positive announcement effect in short-runwindow and negative abnormal return in long-run period. In other words, this argument isover-optimism hypothesis. Besides, this study test wealth expropriation hypothesis. Whetherthere is poor stock performance after private equity placement when the proportion ofinsiders' subscriptionand the discount of private equity are greater.This study has two main contribution of private equity placement research. First, thisstudy examines long-run operating performance and stock return of private equity offeringfirms. In addition, this study examines the factors influencing long-run operating performanceand stock return of private equity offering firms. Second, in contrast with previous studies,this study considers the effect of strategic investors on long-run firm performance. Besides,this study examine whether long-run firm performance is affected by the discount of privateequity offering, the proportion of insiders'subscription and the percentage of directorsoccupied by referee
其他識別: NSC97-2410-H005-005
Appears in Collections:會計學系所

Show full item record

Google ScholarTM


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.