政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/4161

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政大典藏 > College of Commerce > Department of Finance > NSC Projects > Item 140.119/4161

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/4161

Title:	股票需求彈性對公司財務決策的影響(1/2)
Other Titles:	Demand Elasticity for Common Stock and Corporate Financial Decisions
Authors:	劉玉珍
Keywords:	財務決策;股票需求彈性;新上市股票;普通股 Financial decision;Demand elasticity for stock;Initial public offering (IPO);Common stock
Date:	2000
Issue Date:	2007-04-18 16:42:00 (UTC+8)
Publisher:	臺北市：國立政治大學財務管理學系
Abstract:	This study attempts to look for a linkage between trading mechanisms and corporate finance, focusing on the placement of new issues. We examine the choice of IPO methods and price elasticity. Empirical evidence generally supports that demand curves for financial assets are not perfectly elastic, hence the price elasticity may become a determinant for corporate decisions. The availability of alternative IPO methods in the Taiwan stock market provides us a laboratory examination in comparing the auction methods versus public offer when corporate managers decide to equity offers. It extends the work of Hodrick (1999) on examining various equity offering methods and financial decisions. Specifically, Hodrick examines supply elasticity from the cases of tender offer, while we attempt to analyze demand elasticity of common stocks from IPO cases. Our results indicate that demand elasticity is an important factor when determining the IPO method.
Description:	核定金額：560800元
Data Type:	report
Appears in Collections:	[Department of Finance] NSC Projects

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