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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/113282
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/113282


    Title: 興櫃公司成功上市櫃之關鍵因素探討
    The predictors to successful IPO for emerging market stocks
    Authors: 溫苡晴
    Wen, I Ching
    Contributors: 盧敬植
    溫苡晴
    Wen, I Ching
    Keywords: 興櫃市場股票
    上市
    上櫃
    emerging market stock
    IPO
    Date: 2017
    Issue Date: 2017-10-02 10:14:08 (UTC+8)
    Abstract: 本研究在探討興櫃公司成功轉上市(櫃)的關鍵因素為何,分別由公司基本資料及財務報表中選取適當變數,並分別加入產業及登錄興櫃年份之虛擬變數,共計四個模型,分別探討於1年內、2年內、3年內、4年內及5年內有哪些成功上市(櫃)之關鍵因素,使用Logistic迴歸分析作為主要研究模型。
    研究對象是以西元2002年興櫃市場開始運作後到2015年底登錄於興櫃市場的公司為樣本,共計1146家。
    在財報及公司基本資料中,實證結果發現1年內成功轉上市(櫃)的關鍵因素有公司設立經歷時間及公司資產報酬率。公司設立經歷時間越短,或公司資產報酬率越高,較有利於成功轉上市(櫃)。而2年內、3年內、4年內及5年內成功轉上市(櫃)的關鍵因素除了前述兩者以外,負債比率及資產規模也被證實是重要指標;越小的負債比率或越大的資產規模較有利於成功轉上市(櫃)。
    在產業虛擬變數方面,實證結果發現所屬產業對於是否成功上市(櫃)沒有顯著影響。而在登錄興櫃年份方面,實證結果發現對比於2002年,在1年內成功轉上市(櫃)部分,2003年-2015年皆有顯著負相關;而在更長的年限內成功轉上市(櫃)的部分2006、2008及2009年則顯示不顯著負相關。
    Reference: 吳玉潔 (2004). 以具不可觀測波動異質性之邏吉斯模型解析興櫃掛牌公司成功上櫃上市之關鍵決定性變數與成功機率. 財務金融學系碩士班. 台北市, 銘傳大學. 碩士: 43.
    林盈志 (1998). 台灣公司股票上市原因之研究. 財務金融學系研究所. 台北市, 國立臺灣大學. 碩士: 90.
    林詒超 (2015). 興櫃轉上市櫃的成功率與信用風險. 高階經理人碩士在職專班. 台中市, 國立中興大學. 碩士: 23.
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    秦家騏 (2002). 公開發行公司上市櫃決策分析. 財務金融研究所. 桃園縣, 元智大學. 碩士: 70.
    鄭如君 (2010). 台灣市場上市(櫃)撤件因素之探討. 財務管理研究所. 台北市, 國立政治大學. 碩士: 64.
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    Description: 碩士
    國立政治大學
    財務管理研究所
    104357024
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0104357024
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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