教師資料查詢 | 類別: 期刊論文 | 教師: 倪衍森 NI, YEN-SEN (瀏覽個人網頁)

標題:Convertible Bonds Issued in the Bear Market Period: Evidence from Taiwan
學年105
學期2
出版(發表)日期2017/04/07
作品名稱Convertible Bonds Issued in the Bear Market Period: Evidence from Taiwan
作品名稱(其他語言)英文
著者Yen-sen Ni; Pao-yu Huang
單位
出版者
著錄名稱、卷期、頁數Applied Economics 47(42), p.4501-4510
摘要We argue that the behaviour of enterprises might be modified or even changed completely after black swan events occur. We explore why high-tech firms preferred to issue convertible bonds in 2001–2003, the bear market period after the tech bubble in Taiwan. We show that firms issuing convertible bonds are those with low directors’ holding ratio and high debt ratio. Results also reveal that corporate governance was worse in the firms that issued convertible bonds, as revealed by the finding that the directors’ holding ratio of these issuing firms declined considerably. This finding also implies that corporate governance issues become more serious after black swan events.
關鍵字corporate governance; convertible bonds; directors' holding ratio; tech bubble; G30; G32; G34
語言英文
ISSN0003-6846;1466-4283
期刊性質國外
收錄於SSCI;
產學合作
通訊作者Pao-yu Huang
審稿制度
國別英國
公開徵稿
出版型式,電子版,紙本
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