政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/120337
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文筆數/總筆數 : 113318/144297 (79%)
造訪人次 : 51008249      線上人數 : 892
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧:
  • 您可在西文檢索詞彙前後加上"雙引號",以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋,建議至進階搜尋限定作者欄位,可獲得較完整資料
  • 進階搜尋
    請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/120337


    題名: 公司董監事席次變動對IPO的影響
    Board Member Turnover and Business Milestone
    作者: 葉祖昀
    Yeh, Tsu-Yun
    貢獻者: 王信實
    李文傑

    Wang, Shinn-Shyr
    Lee, Wen-Chieh

    葉祖昀
    Yeh, Tsu-Yun
    關鍵詞: 教育連結
    董監事席次變動
    新創公司
    創業投資
    國發基金
    Educational link
    Board member turnover
    New venture
    Venture capital
    National development fund
    日期: 2018
    上傳時間: 2018-10-01 12:23:39 (UTC+8)
    摘要: In the paper, we are going to figure out what factor has the most significant influence on firm’s performance. Based on the pervious definition of educational link method, there are additional variables about changes on board and management team members. The result shows that the higher rate the members change, the better chance of IPO firms has. In other words, the changes of board and team members have a significantly positive effect on firms’ performance. Before going public, firms would like to reform their team structure to make the funding easier. It implied that it is also very crucial for firms to hire better human capital. As firms become greater and greater, they can attract more and more talented people to work for them so that it will increase the possibility to go public.
    參考文獻: 1. Akerlof, G. A. (1970). The market for" lemons": Quality uncertainty and the market mechanism. The quarterly journal of economics, 488-500. 

    2. Bai, C. E., Hsieh, C. T., & Song, Z. M. Crony Capitalism with Chinese Characteristics. 

    3. Barber, B. M., & Lyon, J. D. (1996). Detecting abnormal operating performance: The empirical power and specification of test statistics. Journal of financial Economics, 41(3), 359-399. 

    4. Barry, C. B., Muscarella, C. J., Peavy, J. W., & Vetsuypens, M. R. (1990). The role of venture capital in the creation of public companies: Evidence from the going-public process. Journal of Financial economics, 27(2), 447-471. 

    5. Boot, Arnoud W A and Thakor, Anjan V (1993). Security Design. Journal of Finance, 48(4): 1349-78.
    6. Brav, A., & Gompers, P. A. (1997). Myth or reality? The long - run underperformance of initial public offerings: evidence from venture and nonventure capital-backed companies. The Journal of Finance, 52(5), 1791-1821. 

    7. Bunkanwanicha, P., & Wiwattanakantang, Y. (2009). Big business owners in politics. Review of Financial Studies, 22(6), 2133-2168. 

    8. Carleton, W.T., and I.A. Cooper. (1976). Estimation and Uses of the Term Structure of Interest Rates. Journal of Finance, 31: 1067-1083. 

    9. Claessens, S., Feijen, E., & Laeven, L. (2008). Political connections and preferential access to finance: The role of campaign contributions. Journal of Financial Economics, 88(3), 554-580. 

    10. Cohen L., Frazzini A., Malloy C. (2008). The small world of investing: Board connections and mutual fund returns. Journal of Political Economy 116(5)951- 979.
    11. Cooper, M. J., Gulen, H., & Ovtchinnikov, A. V. (2010). Corporate political contributions and stock returns. The Journal of Finance, 65(2), 687-724. 

    12. Eckbo, B. E. (Ed.). (2008). Handbook of Empirical Corporate Finance SET (Vol. 1). Elsevier. 

    13. Faccio, M. (2006). Politically-connected firms. American Economic Review, 

    14. Fama, E. F., & French, K. R. (1992). The cross-section of expected stock returns. The Journal of Finance, 47(2), 427-465. 

    15. Fisman, R. (2001). Estimating the value of political connections. American
    
Economic Review, 1095-1102. 

    16. Goldman, E., Rocholl, J., & So, J. (2009). Do politically connected boards affect
    
firm value? Review of Financial Studies, 22(6), 2331-2360. 

    17. Gompers, P. A. (1995). Optimal investment, monitoring, and the staging of
venture
    capital. The journal of finance, 50(5), 1461-1489. 

    18. Gompers, P. A. (1996). Grandstanding in the venture capital industry. Journal of
    
Financial economics, 42(1), 133-156. 

    19. Grossman, S. J., & Hart, O. D. (1986). The costs and benefits of ownership: A theory of vertical and lateral integration. The Journal of Political Economy, 691- 719. 

    20. Ho (2014). Social Network and R&D Productivity of the Venture Invested Entrepreneurial Team: The Case of Educational Network. 

    21. Hsiang (2015). What Factors Affect New Ventures’ Long-term Performance? - A Case of Educational Network.
    22. Huang (2015). Political connections under the IPO process of new ventures: Evidence from Taiwanese venture capital industry
    23. Jensen M.C. and Meckling W.H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics 3(4): 305-360. 

    24. Kaplan, S. N., Sensoy, B. A., & Strömberg, P. (2009). Should investors bet on the jockey or the horse? Evidence from the evolution of firms from early business plans to public companies. The Journal of Finance, 64(1), 75-115. 

    25. Krishnan, C. N. V., Ivanov, V. I., Masulis, R. W., & Singh, A. K. (2011). Venture
    capital reputation, post-IPO performance, and corporate governance. Journal of
    Financial and Quantitative Analysis, 46(05), 1295-1333. 

    26. Lee, P. M., & Wahal, S. (2004). Grandstanding, certification and the underpricing of venture capital backed IPOs. Journal of Financial Economics, 73(2), 375-407. 

    27. Leuz, C., & Oberholzer-Gee, F. (2006). Political relationships, global financing, and corporate transparency: Evidence from Indonesia. Journal of Financial Economics, 81(2), 411-439. 

    28. Lin, T. H., & Smith, R. L. (1998). Insider reputation and selling decisions: the unwinding of venture capital investments during equity IPOs. Journal of Corporate
    Finance, 4(3), 241-263. 

    29. Lin (2014) Social Network and the Venture Capital Investment Target: The Case of Educational Network
    30. Mahmood, I. P., Zhu, H. and Zajac, E. J., 2011, “Where can capabilities come from? Network ties and capability acquisition in business groups,” Strategic Management Journal, 32, 820–48.Megginson and Weiss. 

    31. McDonald, M. B. (2014). Politically Connected Analysts. 

    32. McDonald, R. L. (2013). Contingent capital with a dual price trigger. Journal of
    
Financial Stability, 9(2), 230-241. 

    33. Megginson, W. L., & Weiss, K. A. (1991). Venture capitalist certification in initial
    
public offerings. The Journal of Finance, 46(3), 879-903. 

    34. Nahata, R. (2008). Venture capital reputation and investment performance.
Journal of Financial Economics, 90(2), 127-151. 

    35. Petersen, M. A. (2009). Estimating standard errors in finance panel data sets:
    
Comparing approaches. Review of financial studies, 22(1), 435-480. 

    36. Ritter, J. R. (1991). The long-run performance of initial public offerings. The journal of finance, 46(1), 3-27. 

    37. Saxenian A. (1994). Regional Advantage:Culture and Competition in Silicon 
Valley and Route 128. Harvard University Press, Cambridge, MA. 

    38. Saxenian, A. (2002). Brain Circulation and Chinese Chipmakers: The Silicon
    
Valley-Hsinchu-Shanghai Triangle. Berkeley: University of California at Berkeley. 

    39. Singh, A. K., Dark, F. H., & Carter, R. B. (1998). Underwriter Reputation, Initial Returns, and the Long-Run Performance of IPO Stocks. The Journal of Finance,
    53(1). 

    40. Y. Chan, D. Siegel, A.V. Thakor (1990). Learning, corporate control and performance requirements in venture capital contracts. International Economic Review, 31, pp. 365–381. 

    41. Zarutskie, R. (2010). The role of top management team human capital in venture capital markets: Evidence from first-time funds. Journal of Business Venturing, 25(1), 155-172. 

    描述: 碩士
    國立政治大學
    應用經濟與社會發展英語碩士學位學程(IMES)
    1032660051
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G1032660051
    資料類型: thesis
    DOI: 10.6814/THE.NCCU.IMES.008.2018.F06
    顯示於類別:[應用經濟與社會發展英語碩士學位學程 (IMES)] 學位論文

    文件中的檔案:

    檔案 大小格式瀏覽次數
    005101.pdf8496KbAdobe PDF20檢視/開啟


    在政大典藏中所有的資料項目都受到原著作權保護.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏,無償提供學術研究與公眾教育等公益性使用,惟仍請適度,合理使用本網站之內容,以尊重著作權人之權益。商業上之利用,則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作,已盡力防止侵害著作權人之權益,如仍發現本網站之數位內容有侵害著作權人權益情事者,請權利人通知本網站維護人員(nccur@nccu.edu.tw),維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回饋