政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/117627

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 109948/140897 (78%)
Visitors : 46090223 Online Users : 1468

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大典藏 > College of Commerce > Department of Finance > Periodical Articles > Item 140.119/117627

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/117627

Title:	Intra-Industry Effects of Corporate Capital Investment Announcements
Authors:	陳聖賢 Chen, Sheng-Syan Ho, Lan-Chih Shih, Yi-Cheng
Contributors:	財管系
Date:	2007
Issue Date:	2018-06-12 16:52:26 (UTC+8)
Abstract:	We examine how announcements of corporate capital investments by one firm affect the stock prices of its competitors. We find that on average, rivals experience a significantly negative valuation effect. The results suggest that for the sample as a whole, the competitive effect dominates the contagion effect. We further examine various factors that could potentially explain the heterogeneous intra-industry effects of capital investment announcements. We find that rivals` share prices are more adversely affected when the announcer experiences a higher announcement effect or is the first mover in the industry. We also show that rivals experience a greater wealth loss when they have poorer investment opportunities or higher financial leverage.
Relation:	Financial Management, Vol.36, No.2, pp.125-145
Data Type:	article
Appears in Collections:	[Department of Finance] Periodical Articles

Files in This Item:

File	Description	Size	Format
Chenetal2007.pdf		280Kb	Adobe PDF2	380	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...