頁籤選單縮合
題 名 | 美國商業銀行財務資料揭露之資訊內涵=An Empirical Study on the Information Content of Supplemental Disclosures by U.S. Commercial Banks |
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作 者 | 劉順仁; 洪曉穎; | 書刊名 | 管理與系統 |
卷 期 | 4:1 1997.01[民86.01] |
頁 次 | 頁49-74 |
分類號 | 562.5452 |
關鍵詞 | 商業銀行; 附註揭露; 資訊內涵; 風險; Commercial banks; Supplemental disclosures; Information content; Risk; |
語 文 | 中文(Chinese) |
中文摘要 | 本文以美國市場行控股公司為研究對象,企圖以銀行業面臨之各類經營風險架構 ,測試已實施之相關財務報表附註揭露管制與股價之關聯性。具體而言,本文以揭露信用風 險、利率風險、金融商品價格風險、流動性風險,以及財務風險之10個財務變數為自變數, 測試其對股價與帳面價值差之解釋能力。本文之實證結果顯示,揭露信風險之逾期放款、利 率風險之貸款期間結構、證券公平價值與帳面價值差、以及流動性風險之存放比率的係數符 號與預期一致;即若該揭露顯示公司暴露於較高風險,則其股價具負面反應。此外,本文亦 發現自有資本比率高於樣本平均值之銀行,市場對逾期放款之負面反應程度,較自有資本比 率於樣本均值之銀行小。 |
英文摘要 | This paper examines the relation between supplemental disclosures and bank share prices.Uisng a sample of U.S. bank holding companies in the 1992∼94 period, the paper finds that supplemental disclosures with respect to credit risk, interest risk and liquidity risk have incremental explanatory power. Specifically, we find that non-performing loans, maturity structure of loans and loan-to-deposit ratio, which are used as proxy of credit risk, interest risk, and liquidity risk, are negatively related to bank share prices. The paper also finds that the coefficient of non-performing loans is higher for banks with higher regulatory capitals. By contrast, variables related to fair value of financial instruments and capital adequacy ratios are found not related to bank share prices. e paper also finds that the coefficient of non-performing loans is higher for banks with higher regulatory capitals. By contrast, variables related to fair value of financial instruments and capital adequacy rations are found not related to bank share prices. |
本系統中英文摘要資訊取自各篇刊載內容。