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    题名: 2008金融海嘯前後現金持有跟負債量之探討
    Cash Holdings and Debt Levels Before and After 2008 Financial Crisis
    作者: 鍾志宏
    贡献者: 謝淑貞
    鍾志宏
    关键词: 金融海嘯
    日期: 2012
    上传时间: 2013-09-02 15:18:45 (UTC+8)
    摘要: This thesis investigates how cash holdings of large and small firms in the U.S. change before and after the 2008 financial crisis. We also try to capture the determinants that cause the changes of cash holdings. Our conclusions show that debts of large and small firms are rising before and after the 2008 financial crisis and that cash holdings are better explained by debts comparatively than D/A because they are different conceptions in mathematic expressions.
    參考文獻: Almeida, Heitor, Murillo Campello, and Michael S. Weisbach, 2004, The Cash Flow Sensitivity of Cash, Journal of Finance 59, 1777-1804.

    Greenwald, Bruce, Joseph E. Stiglitz, and Andrew Weiss, 1984, Information Imperfections in the Capital Market and Macroeconomics Fluctuations, The American Economic Review 74, 194-199.

    Modigliani, Franco and Merton Miller, 1958, The Cost of Capital, Corporation Finance and The Theory of Investment, The American Economic Review 53, 261-97.

    Myers, Stewart and Nicholas Majluf, 1984, Corporate Financing and Investment Decisions when Firms Have Information that Investors Do Not Have, Journal of Financial Economics 13, 187-221.

    Acharya, Viral A, Heitor Almeida, and Murillo Campello, 2007, Is Cash Negative Debt? A hedging perspective on corporate financial policies, Journal of Financial Intermediation 16, 515-554.

    Dittmar, Amy, Jan Mahrt-Smith, and Henri Servaes, 2003, International corporate governance and corporate cash holdings, Journal of Financial and Quantitative Analysis 38, 111-133.

    Jensen, Michael, 1986, Agency costs of free cash flow, corporate finance and takeovers, American Economics Review 76, 323-329.

    Han, Serngjin, and Jiaping Qui, 2007, Corporate precautionary cash holdings, Journal of Corporate Finance 13, 43-57.

    Foley, C. Fritz, Jay Hartzell, Sheridan Titman, and Garry J. Twite, 2007, Why do firms hold so much cash? A tax-based explanation, Journal of Financial Economics 86, 579-607.
    描述: 碩士
    國立政治大學
    國際經營與貿易研究所
    100351002
    101
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G1003510022
    数据类型: thesis
    显示于类别:[國際經營與貿易學系 ] 學位論文

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