查詢結果分析
來源資料
頁籤選單縮合
題 名 | 揭露水準對於信用評等與負債資金成本之影響=The Effect of Disclosure Level on Credit Rating and Cost of Debt Capital |
---|---|
作 者 | 陳瑞斌; 翁慈青; 朱全斌; | 書刊名 | 財務金融學刊 |
卷 期 | 17:2 2009.06[民98.06] |
頁 次 | 頁71-110 |
分類號 | 563.1 |
關鍵詞 | 公司治理; 揭露水準; 信用評等; 負債資金成本; Corporate governance; Disclosure level; Credit rating; Cost of debt capital; |
語 文 | 中文(Chinese) |
英文摘要 | Recently, the Securities and Futures Commission of Taiwan promote the corporate governance targets to solve the problem of information asymmetry between manager and investors by raising information transparency. The purpose of this study is to investigate the impact of disclosure level on credit rating and cost of debt capital. The findings of this study can be summarized as follows: First, it is significantly negative association between disclosure level and credit rating in the order probit regression. Second, the disclosure level is negatively related with the cost of debt capital in the ordinary least squares regression. In additions, we consider the endogenous relation between disclosure level and cost of debt capital, and use two stage least squares to estimate that relation. The finding persists even after we control the endogenous problem. |
本系統中英文摘要資訊取自各篇刊載內容。