English  |  正體中文  |  简体中文  |  Items with full text/Total items : 52068/87197 (60%)
Visitors : 8909457      Online Users : 69
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/110677

    Title: 人民幣匯率機制改革對股價報酬率與資產報酬率的影響:來自於資本結構的觀點
    Other Titles: The effects of RMB exchange system reform on stock returns and return on assets : insight from capital structure perspectives
    Authors: 金山, 吳;Wu, Chin-Shan
    Contributors: 淡江大學財務金融學系博士班
    李命志;Lee, Ming-Chih
    Keywords: 資本結構;財務槓桿;自由現金流量;資產報酬;股票報酬;外匯;利率;Capital Structure;financial leverage;free cash flow;Return on Assets;stock return;Foreign exchange;Interest rate
    Date: 2016
    Issue Date: 2017-08-24 23:33:16 (UTC+8)
    Abstract: 本文主要探討臺灣地區上市公開發行公司資本結構變化、財務槓桿操作對股價報酬率與資產報酬率的關係,並進一步引入人民幣在2005年與2010年匯率機制改革前、後匯率風險干擾因子,同時針對不同波動性程度分析兩者關聯性之變化,實證結果顯著發現資本結構變化及人民幣匯率機制改革對股價報酬率與資產報酬率,兩者具有顯著相關。
    This essay aims to discuss the changes of capital structure toward stock returns and return on assets, with a further introduction of interference factors of RMB exchange rate risks. The correlational changes of both the factors would be analyzed in terms of different fluctuation levels. The empirical results show significant discoveries: both the factors have positive correlations. Reasons can be deduced from the willingness of trading firms, the company operational requirements, and the psychology of return expectation. Thus, this study suggests the investors to include exchange rate fluctuation index, while the government shall timely open up to corporate transactions and the corporate should carry out overall exchange rate and interest rate hedging.
    Appears in Collections:[財務金融學系暨研究所] 學位論文

    Files in This Item:

    File Description SizeFormat

    All items in 機構典藏 are protected by copyright, with all rights reserved.

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback