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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/58930
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/58930


    Title: 內部人持股與股票崩盤風險
    Insider Holdings and Stock Price Crash Risk
    Authors: 邱豐羿 
    Contributors: 屠美亞
    邱豐羿 
    Keywords: 內部人
    崩盤風險
    Date: 2012
    Issue Date: 2013-07-22 11:12:51 (UTC+8)
    Abstract: 在台灣的市場環境下,內部人持股占公司相當大的比重,因此我們研究內部人持股的高低,對於公司股票崩盤風險的影響,發現內部人與法人、政府機構持股一樣,對於股票崩盤風險皆有負向的影響。接著,探討內部人三個組成成分(董監事、大股東與經理人)的影響,在董監事與大股東持股的部分,兩者皆會扮演監督的角色,持股比例與崩盤風險呈現負相關;然而,關於經理人對於股票的崩盤風險影響,結果顯示,其持股比例與崩盤風險呈現正相關性,顯示經理人由於持股比率相對較少,所以與公司長期發展的目標會有所不一致,也較容易從事於短期利益之行為,例如:隱藏壞消息,使股價過度被高估,如此一來,當累積的壞消息爆發出來後,可能容易導致公司股票發生崩盤的情形。另外,本研究也發現,公司董監事席次、獨立董監事席次與股票崩盤風險間,亦呈現負相關性。
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    Description: 碩士
    國立政治大學
    財務管理研究所
    100357023
    101
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0100357023
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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