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    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/30240


    Title: 影響我國上市櫃公司選擇公開募集或私募之因素
    Authors: 吳雅妮
    Contributors: 張清福
    吳雅妮
    Keywords: 私募
    現金增資
    羅吉斯迴歸
    Private placement
    Seasoned equity offerings
    Logit model
    Date: 2007
    Issue Date: 2009-09-11 17:30:56 (UTC+8)
    Abstract: 本研究以羅吉斯迴歸模型探討影響上市櫃公司選擇公開募集或私募之因素。 實證結果發現採私募或現金增資的決策，和下列因素有關：(1)資訊不對稱程度愈高之公司愈傾向以私募發行新股，且上櫃公司較上市公司更傾向以私募發行新股；(2) 資訊透明度越低的公司，資金成本越高，籌資也較困難，會傾向以私募方式發行新股；(3) 投資機會愈多的公司，因為控制權考量，會選擇公開募集資金；(4) 當景氣愈好，公司愈傾向以公開募集發行新股，且上市公司較上櫃公司更易傾向以現金增資方式發行新股。
    This study applies logit model to examine the determinants of choice of private placements/seasoned equity offerings. The results indicate that firms being severe in information asymmetry tend to choose private placements. Contrast to listed firms, OTC firms prefer private placements to seasoned equity offerings. Firms with lower information transparency pay higher costs in seasoned equity offerings and therefore tend to choose private placements. Firms being abundant in investment opportunities prefer to choose seasoned equity offerings because of control considerations. In bull markets, more firms choose seasoned equity offerings other than private placements while listed firms have stronger tendency to choose seasoned equity offerings than OTC firms.
    Reference: 中文部分
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    陳品樺，2003，台灣上市公司現金增資擇時之相關研究，國立中正大學財務金融研究所碩士論文。
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    英文部分
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    Description: 碩士
    國立政治大學
    會計研究所
    95353055
    96
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0095353055
    Data Type: thesis
    Appears in Collections:[Department of Accounting] Theses

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