کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
976794 | 933154 | 2007 | 17 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Some new evidence on bond initial public offerings in the Taiwan Stock Exchange: An industrial perspective
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
فیزیک ریاضی
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
This study examines the determinants of types of bonds at the initial public offerings (IPOs) for the Taiwan Stock Exchange (TWSE). From an industrial perspective, R&D expenditures are mainly positively related to issuing straight bonds and future growth opportunities to convertible bonds for electronic firms. In the non-electronic industry, firms with significant financing needs are more likely to issue convertible bonds, whereas those without such requirement are more likely to issue straight bonds. It is also found that electronic firms convey a significant negative signal to the stock market, while non-electronic firms experience an insignificant stock price response surrounding the announcements of the bond IPO.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Physica A: Statistical Mechanics and its Applications - Volume 378, Issue 2, 15 May 2007, Pages 357-373
Journal: Physica A: Statistical Mechanics and its Applications - Volume 378, Issue 2, 15 May 2007, Pages 357-373
نویسندگان
Mei-Chu Ke, Tung Liang Liao, Hong-Ming Hsu,