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    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/94259


    Title: 台灣合併溢價之實證研究分析
    Authors: 陳則國
    Contributors: 沈中華
    陳則國
    Keywords: 合併溢價
    合併
    換股比例
    Date: 2003
    Issue Date: 2016-05-06 15:16:34 (UTC+8)
    Abstract: 摘要
    在合併案中換股比例反映的是公司的價值,而合併溢價則反映在換股比例中,如何處理價格的問題變成兩難的問題,太高的價格將會減少投資報酬的非必要性,而太低的價格將會導致合併案的破局,達到最適的溢價水準需要分析溢價的決定因素。
    本文要研究的主題是台灣產業合併溢價之實證分析,並分成三個方向來討論:(1)非金融業;(2)金融業;(3) 銀行業,最後並分析比較其異同。實證結果發現:獲利能力佳的主併公司,在非金融業、金融業皆會付較高的溢價來進行購併;而財務體質不佳、負債過高的公司在非金融業、金融業皆會付較低的溢價。在銀行業方面,被併銀行的逾放比率越高其所獲的溢價越低,被併銀行有多重競價者(Multiple bidder )的話,其所獲得的溢價越高。
    Reference: 伍忠賢(1998),企業購併聖經,遠流出版公司,1998年。
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    Description: 碩士
    國立政治大學
    經濟學系
    91258005
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0091258005
    Data Type: thesis
    Appears in Collections:[經濟學系] 學位論文

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