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dc.contributor.authorJhih-Wei Wuen_US
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dc.description.abstractThis paper discusses whether earnings management before private placement of equity issued will be affected by factors (e.g., financial constraints or distress risk).Then we validate the impact of earnings management resulting from different factors on the long-run performance of the company. We try to figure out the situation that earnings management did not lead downward long-run performance. However, the empirical results of this study show that issuers with high distress risk are more likely to manage earnings, but the long-run performance after issued will be relatively poor. Although the financial constraints will not statistically affect the earnings management of private company, the earnings management resulting from slight financial constrains may have better long-run performance and change the negative perception of the past literature on earnings management.en_US
dc.description.tableofcontents目次 第一章 緒論 1 第一節 研究動機與背景 1 第二節 研究目的 1 第三節 研究架構 2 第二章 文獻回顧 3 第一節 盈餘管理 3 第二節 影響盈餘管理的因素 3 第三節 盈餘管理後之長期績效 5 第三章 研究方法 6 第一節 研究假說 6 第二節 研究變數之衡量 7 第三節 實證模型 10 第四節 資料說明與選樣準則 12 第四章 實證結果分析 14 第一節 敘述統計量 14 第二節 影響盈餘管理之因素 15 第三節 後續市場績效 15 第五章 結論與建議 18 第一節 結論 18 第二節 建議 18 參考文獻 20 表目次 表 3-1  樣本摘要 23 表 3-2  私募公司之產業與各年度分佈情形 24 表 4-1  基本統計量 25 表 4-2  相關係數表 26 表 4-3  私募發行前後盈餘管理之估計值 27 表 4-4  盈餘管理迴歸模型 28 表 4-5  各變數以中位數區分之累積異常報酬 29 表 4-6  盈餘管理對市場績效之影響 30 表 4-7  Fama-French四因子模型 31 表 4-8  不同條件之盈餘管理與長期表現之關係 32 表 4-9  分解盈餘管理之迴歸分析 33 表 4-10  發行價格之折價率 34zh_TW
dc.subjectPrivate Placements of Equityen_US
dc.subjectEarnings Managementen_US
dc.subjectFinancial Constraintsen_US
dc.subjectDistress Risken_US
dc.subjectLong-run stock performanceen_US
dc.titleEarnings Management and the Long-Run Performance of Private Placements of Equityen_US
dc.typeThesis and Dissertationen_US
item.openairetypeThesis and Dissertation-
item.fulltextwith fulltext-
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