關鍵字查詢 | 類別:會議論文 | | 關鍵字:The Association between Finance Policy

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序號 學年期 教師動態
1 103/2 財金系 李沃牆 教授 會議論文 發佈 The Association between Finance Policy, Business Risk and Firm Growth Affect in Taiwan , [103-2] :The Association between Finance Policy, Business Risk and Firm Growth Affect in Taiwan會議論文The Association between Finance Policy, Business Risk and Firm Growth Affect in TaiwanLee, Joe-Ming; Lee, Wo-Chiang淡江大學財務金融學系PSTR model; business risk; firm size; firm growth; free cash flow淡江大學財務金融學系2015第十二屆兩岸金融市場發展研討會論文集淡江大學兩岸金融研究中心; 淡江大學財務金融學系所; 靜宜大學財務金融學系所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 necessar
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