| The Association between Finance Policy, Business Risk and Firm Growth Affect in Taiwan | |
|---|---|
| 學年 | 103 |
| 學期 | 2 |
| 發表日期 | 2015-05-17 |
| 作品名稱 | The Association between Finance Policy, Business Risk and Firm Growth Affect in Taiwan |
| 作品名稱（其他語言） | |
| 著者 | Lee, Joe-Ming; Lee, Wo-Chiang |
| 作品所屬單位 | 淡江大學財務金融學系 |
| 出版者 | 淡江大學財務金融學系 |
| 會議名稱 | 2015第十二屆兩岸金融市場發展研討會 |
| 會議地點 | 新北市, 台灣 |
| 摘要 | This study applies the panel smooth transition regression (PSTR) model to investigate the non-linear dynamic relationship between firm growth and firm size in the Taiwan electronic information industry. Our empirical results reveal that firm growth and firm size present a non-linear relationship. Firm growth is different under the size threshold value and the control variables of firm age, business risk, debt, R&D, and free cash flow (FCF). The different firm size attributes of firm growth produce completely different business risks. We recommend that firms should measure business risk and firm growth. High leverage risk does not necessarily mean one will get a higher firm growth. In sum, the business risk is an important index when looking at firm growth. |
| 關鍵字 | PSTR model; business risk; firm size; firm growth; free cash flow |
| 語言 | en_US |
| 收錄於 | |
| 會議性質 | |
| 校內研討會地點 | |
| 研討會時間 | 20150517~20150517 |
| 通訊作者 | Lee, Joe-Ming |
| 國別 | TWN |
| 公開徵稿 | |
| 出版型式 | 紙本 |
| 出處 | 2015第十二屆兩岸金融市場發展研討會論文集 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/103101 ) |
| SDGS | 產業創新與基礎設施 |
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