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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/31004
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/31004


    Title: 媒體報導對興櫃轉上櫃公司股票績效的影響
    Authors: 陳怡文
    Contributors: 姜堯民
    陳怡文
    Keywords: 媒體報導
    興櫃轉上櫃
    Date: 2008
    Issue Date: 2009-09-14 09:02:42 (UTC+8)
    Abstract: 本研究以民國93 年至民國97 年10 月間於台灣地區之興櫃轉上櫃公司,篩選140間符合條件的公司為樣本,探討興櫃期間媒體報導的關注效果對初次上櫃發行折價之影響。結果發現媒體報導數量及內容對初次上櫃發行折價的確有顯著影響。
    媒體報導數量方面,本研究發現樣本公司於興櫃轉上櫃期間,媒體報導數量密度對原始初次上櫃折價較有影響,而非媒體報導總數量。公司平均每月新聞數量越多,初次上櫃折價會越大,符合關注效果之假說,即投資人將買入最近吸引其注意力的公司股票。
    媒體報導內容方面,發現正面新聞佔總新聞之比例不顯著影響上櫃折價,然而負面新聞佔總新聞之比例,以及中立新聞佔總新聞之比例則十分顯著。上述結果的發生,可能是當媒體記者報導正面消息時,投資人認為是公司購買媒體版面所作的廣告文案,所以投資人不會特別購買正面消息佔總新聞數越高的公司;然而,一旦媒體記者報導負面消息,對上櫃折價造成顯著影響,表示投資人會避免購買有負面新聞報導的公司;若報導僅帶有中立態度時,也反而釋放出負面訊息。
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    Description: 碩士
    國立政治大學
    財務管理研究所
    95357014
    97
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0095357014
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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