English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113311/144292 (79%)
Visitors : 50935239      Online Users : 964
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/53866


    Title: 退休金負債與增資機會對企業退休金計劃選擇之影響
    Other Titles: Pension Liability Cost, Accesses to Capital Market and Employer Pension Choices
    Authors: 王儷玲
    Contributors: 國立政治大學風險管理與保險學系
    行政院國家科學委員會
    Keywords: 退休金計畫;確定給付制;確定提撥制;退休金負債成本;增資機會;上市公司
    defined benefit plan;defined contribution plan;pension liability cost;access to the capital market;public trading firms
    Date: 2003
    Issue Date: 2012-10-22 15:43:49 (UTC+8)
    Abstract: 企業退休金計畫依給付方式的不同，可以分為確定給付制（Defined Benefit Plans）與確定提撥制（Defined Contribution Plans）。這兩種退休金計畫在承擔退休所得的風險上也各有優劣不同。過去的二十年中，許多研究發現美國有越來越多的公司採用確定提撥制的退休金制度。雖然，絕大多數的研究同意這樣的趨勢，但是對於這個趨勢的成因卻始終沒有定論。過去文獻研究這個趨勢的成因時主要著重在勞動經濟誘因、市場結構與公司財務考量等因素，卻忽略了退休金負債成本與公司增資機會的影響。公司若無法透過適當管道增資，龐大的確定給付退休金負債成本將使公司面臨破產的命運，為了繼續生存，公司可能會決定捨棄原本的確定給付制而改採確定提撥制，因此上市公司與非上市公司在退休金計畫選擇的行為上也可能不同。為了克服過去文獻的缺點，本研究蒐集 1985 與1996 的企業退休金資料 (IRS Form 5500 data) 與公司財務資料 (Compustat data)，並分為上市與非上市公司兩個組群，追蹤此兩年間上市與非上市公司對退休金計畫選擇的變化，並且利用Logistic Regression 模型分析公司在退休金計畫選擇的改變之影響因素有何不同。本研究之實證結果補充Peterson (1994)提出財務因素對退休金計畫選擇之影響的研究，我們發現上市公司由於籌資較容易，因此較可能繼續提供確定給付制。相對的，非上市公司由於籌資較不容易，在退休金成本逐漸增加的壓力下，則較容易終止將原有的確定給付制而轉成提供確定提撥制。
    Over the past twenty years the trend in private employer pension system has been moving away from traditional defined benefit plans and toward defined contribution plans. However, when analyzing the causes of the pension trend, previous literature emphasized more on how the changes in the pension benefits influence employee’s income and how characteristics of pension plans serve as incentive contracts for employers, but overlooked the effects of pension liability costs and the access to the capital market. This paper examines whether the pension liability cost is an important factor in employer pension choice and whether the behavior of such decision differs between public trading firms and non-public trading firms. We find that the public trading firms have more accesses to raise new capitals, thus have higher probability to continually provide defined benefit plans. On the other hand, with limited accesses to raise new capitals non-publicly trading firms were more likely to terminate their existing defined benefit plans and switch to defined contribution plans.
    Relation: 基礎研究
    學術補助
    研究期間:9208 ~ 9307
    研究經費:616仟元
    Data Type: report
    Appears in Collections:[風險管理與保險學系] 國科會研究計畫

    Files in This Item:

    File SizeFormat
    922416H004 (2).pdf37KbAdobe PDF21270View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    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 ©   - Feedback