期刊論文
| 學年 | 103 |
|---|---|
| 學期 | 2 |
| 出版（發表）日期 | 2015-04-08 |
| 作品名稱 | Convertible Bonds Issued in the Bear Market Period: Evidence from Taiwan |
| 作品名稱（其他語言） | |
| 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 | en |
| ISSN | 0003-6846/1466-4283 |
| 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 | 是 |
| 國別 | GBR |
| 公開徵稿 | |
| 出版型式 | ,電子版,紙本 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/106998 ) |