查詢結果分析
來源資料
頁籤選單縮合
| 題 名 | 資訊不對稱假說與自由現金流量假說之驗證=Asymmetric-Information Hypothesis V.S. Free-Cash-Flow Hypothesis |
|---|---|
| 作 者 | 葉兆輝; | 書刊名 | 高苑學報 |
| 卷 期 | 8 2002.07[民91.07] |
| 頁 次 | 頁119-132 |
| 分類號 | 494.75 |
| 關鍵詞 | 資訊不對稱假說; 自由現金流量假說; Asymmetric information hypothesis; Free cash flow hypothesis; |
| 語 文 | 中文(Chinese) |
| 中文摘要 | 本研究分析資本支出與現金流量成正相關的背後原日,結果發現:Myers and Majluf資訊不對稱假說(asymmetric information hypothesis)和Jensen自?現金流量假說(free cash flow hypothesis)均無法完全單獨解釋此一背後原因。而是當內部人持股比例低時,Jensen的假說適用;但當內部人持股比例高時,Myers and Majluf的假說適用。 |
| 英文摘要 | This study analysis why the positive relationship exists between capital investment spending and cash flow. My results suggest the both the Myers and Majluf's asymmetric-information hypothesis and the Jensen's free-cash-flow hypothesis cannot explain this relationship properly. Free-cash-flow behavior appears to fit better in firms with low insider ownership, while the asymmetric-information hypothesis in consistent with the behavior of firms with high insider ownership. |
本系統中英文摘要資訊取自各篇刊載內容。