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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/117782
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/117782

    Title: The Wealth Effect of New Product Introductions on Industry Rivals
    Authors: 陳聖賢
    Chen, Sheng-Syan
    Ho, Kim Wai
    Ik, Kueh Hwa
    Contributors: 財管系
    Date: 2005-05
    Issue Date: 2018-06-15 12:13:13 (UTC+8)
    Abstract: We find that, on average, rivals of firms announcing new products experience a significantly negative wealth effect. We also show that rivals in technologically based industries experience the most significantly unfavorable effect. Rivals' share price response is more unfavorable when the wealth effect on the announcers is larger and when frequent announcers introduce new products. Smaller rivals and those with better investment opportunities also are more adversely affected. Further, highly leveraged rivals, especially those in concentrated industries, experience a greater wealth loss. However, we find that rivals' wealth effects are more favorable when the products introduced are very new.
    Relation: Journal of Business, Vol.78, No.3, pp.969-996
    Data Type: article
    Appears in Collections:[財務管理學系] 期刊論文

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