English  |  正體中文  |  简体中文  |  全文筆數/總筆數 : 58323/91877 (63%)
造訪人次 : 14290016      線上人數 : 140
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
搜尋範圍 查詢小技巧:
  • 您可在西文檢索詞彙前後加上"雙引號",以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋,建議至進階搜尋限定作者欄位,可獲得較完整資料
  • 進階搜尋
    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/987654321/93391

    題名: Can Corporate Governance Mitigate the Adverse Impact of Investor Sentiment on Corporate Investment Decisions? Evidence from Taiwan
    作者: Chen, Wei-Ju
    貢獻者: 淡江大學會計學系
    關鍵詞: Corporate Governance;Board of Director Mechanisms;Agency Theory;Investor Sentiment;Investment Decision
    日期: 2013-12-01
    上傳時間: 2014-01-02 18:15:29 (UTC+8)
    出版者: Macrothink Institute, Inc.
    摘要: This paper explores whether investor sentiment has an adverse impact on corporate investment decisions and whether such impact, if present, can be effectively mitigated by sound corporate governance mechanisms. The sample comprises listed firms in Taiwan between 2003 and 2010. Empirical results indicate that investor sentiment is significantly and positively related to amount of new investment and over-investment. Investor sentiment has an adverse impact on corporate investment decisions. Further test for the moderating effect of corporate governance confirms that corporate governance mechanisms can mitigate such adverse impact of investor sentiment on corporate investment decisions. The empirical results support the argument of previous literature that corporate governance has both incentive and monitoring effects on managers’ decision-making. Due to the agency problem, managers’ investment decisions may be affected by investor sentiment and deviate from the goal of maximizing firm value. Therefore, firms should reinforce their corporate governance mechanisms to minimize the adverse impact of investor sentiment.
    關聯: Asian Journal of Finance & Accounting 5(2), p.101-126
    DOI: 10.5296/ajfa.v5i2.4117
    顯示於類別:[會計學系暨研究所] 期刊論文


    檔案 描述 大小格式瀏覽次數
    4117-15337-1-SM-writer2-new-final.pdf141KbAdobe PDF310檢視/開啟



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