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    請使用永久網址來引用或連結此文件: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/119518

    題名: The Effects of Financial Leverage Change on Stock Returns:A Study of Exchange Rate Volatility
    其他題名: 財務槓桿變化對股票收益率的影響:對匯率波動的研究
    作者: Wu, Chin-Shan;Lee, Ming-Chih;Chiu, Chien-Liang
    關鍵詞: Capital structures;financial leverages;free cash flows;stock returns;foreign exchanges;interest rates;資本結構;財務槓桿;自由現金流量;股票報酬率;外匯匯率;利率
    日期: 2015-05-16
    上傳時間: 2020-11-11 12:10:39 (UTC+8)
    摘要: 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 exchange rate risks. The correlational changes of both 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.
    關聯: International Journal of Information and Management Sciences 26(2), p.123-138
    DOI: 10.6186/IJIMS.2015.26.2.2
    顯示於類別:[財務金融學系暨研究所] 期刊論文


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