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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/48960
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/48960


    Title: 供需模型對借款利率之影響:以全球聯貸案為例
    The Effects of Market Technical on Loan Spread : Evidence From Global Syndicated Loans
    Authors: 李孟芳
    Contributors: 張元晨
    李孟芳
    Keywords: 聯貸案
    供需
    syndicated loan
    market technical
    Date: 2009
    Issue Date: 2010-12-08 01:54:19 (UTC+8)
    Abstract: 本研究之目的在於了解全球聯貸案利率如何受到供需模型之影響;本研究樣本包含1982至2009年來自63個國家超過二萬三仟筆聯貸案。研究結果顯示,供給方力量將導致聯貸案利率偏低,然而於機構投資者參與比率越高之國家存在價格偏離模型預測之情況;而上述之負向效果於財務受限愈嚴重或未來投資機會愈低之借款公司將愈加顯著。
    Using a sample of more than 23,000 syndicated tranches to borrowers from 63 countries for the 1982-2009 period, we test the influence of the supply and demand side effects on loan spread. Our results show that supply side effect leads to a significant lower spread, but in some countries with higher appetite of institutional investors, such as U.S. and Spain, these results do not hold. We find that the negative effect above mentioned on spread will be significant for firms whose original loan spread is much higher; i.e., firms with serious financial constraint or low investment opportunity.
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    Description: 碩士
    國立政治大學
    財務管理研究所
    97357007
    98
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0097357007
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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