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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/117582
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/117582

    Title: Market Response to Product-Strategy and Capital-Expenditure Announcements in Singapore: Investment Opportunities and Free Cash Flow
    Authors: 陳聖賢
    Chen, Sheng-Syan
    Ho, Kim Wai
    Contributors: 財管系
    Date: 1997
    Issue Date: 2018-06-11 18:35:13 (UTC+8)
    Abstract: We examine the importance of investment opportunities and free cash flow in explaining the market response to announcements of product strategies and capital expenditures. Our study, which uses Singapore data, supports the investment opportunities hypothesis that investments by high-q firms are worthwhile while those by low-q firms are not. We find no support for the free-cash-flow hypothesis. Our results are similar to those for R&D investments, which suggests that the availability, or lack, of investment opportunities is an important consideration in assessing the value-enhancing potential of corporate, strategic investments in general.
    Relation: Financial Management, Vol.26, No.3, pp.82-88
    Data Type: article
    DOI 連結: http://dx.doi.org/10.2307/3666215
    DOI: 10.2307/3666215
    Appears in Collections:[財務管理學系] 期刊論文

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