本研究以1996至2015年間，曾發行普通公司債、國內可轉債與國外可轉債之台灣上市（櫃）公司為研究樣本，利用事件研究法分別檢定普通公司債、國內可轉債與國外可轉債發行前後10個交易日之普通股股價變化。 全部樣本股價對發行公司債之事件提前顯著正向反應，並持續至發行日結束。發行國內可轉債結果如同全部樣本，但其股價反應程度明顯高於全部樣本；以及股價對發行國外可轉債前後曾存在顯著之正向反應效果，但其反應程度顯著小於發行國內可轉債。最後，普通公司債發行前後其股價並沒有存在顯著異常之現象，即投資人似乎對此事件並沒有產生任何之反應。 In this study, from 1996 to 2015, has issued ordinary corporate bonds, domestic convertible bonds and foreign convertible bonds listed in Taiwan (cabinet) companies as research samples, the use of incident research methods were tested ordinary corporate bonds, domestic convertible bonds and Foreign shares before and after the issuance of 10 trading days before the common stock price changes. All sample prices are significantly positive for the issuance of corporate bonds and continue until the end of the issue date. The issue of domestic convertible bonds is the same as the whole sample, but its share price is significantly higher than that of the whole sample; and the stock price has a significant positive effect before and after the issuance of foreign convertible bonds, but the degree of reaction is significantly less than the issue of domestic convertible debt. Finally, there was no significant abnormality in the stock price before and after the issuance of ordinary corporate bonds, that is, the investor did not seem to have any reaction to the incident.
