The Study of the Cost and Strategies of Family Business''s Debt financing
碩士 === 國立高雄第一科技大學 === 財務管理所 === 96 === The purposes of this paper is a new issue, that is debt financing strategies of family firm. We can understand that the meaning of the difference between private debt and public debt. This paper have four hypothesis, the first hypothesis is whether family and n...
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ndltd-TW-096NKIT53050202019-05-15T19:28:28Z http://ndltd.ncl.edu.tw/handle/8s288w The Study of the Cost and Strategies of Family Business''s Debt financing 家族企業負債融資成本與負債融資方式之研究 Hsiu-Hui Huang 黃馨慧 碩士 國立高雄第一科技大學 財務管理所 96 The purposes of this paper is a new issue, that is debt financing strategies of family firm. We can understand that the meaning of the difference between private debt and public debt. This paper have four hypothesis, the first hypothesis is whether family and non-family firms have different debt financing cost, the second hypothesis is whether CEO ownership more higher more issue corporate bonds, the third hypothesis is whether the more non-family board seats more issue corporate bonds, and last hypothesis is whether family ownership more higher more issue corporate bonds. The sample includes firms listed in the Taiwan Stock Exchange from 2001 to 2007, and proved with panel data. The result also indicates that the ownership of ultimate controller and manager can’t influence debt financing strategies, and debt financing cost is not difference between family and non-family business. In order to avoid private creditor to interfere company’s policy, ownership the higher of family members, the probability of public debt is higher. Final, the broad seats forms with non-family members can’t influence debt financing strategies of the company. Luke Lin 林育志 2008 學位論文 ; thesis 68 zh-TW |
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碩士 === 國立高雄第一科技大學 === 財務管理所 === 96 === The purposes of this paper is a new issue, that is debt financing strategies of family firm. We can understand that the meaning of the difference between private debt and public debt. This paper have four hypothesis, the first hypothesis is whether family and non-family firms have different debt financing cost, the second hypothesis is whether CEO ownership more higher more issue corporate bonds, the third hypothesis is whether the more non-family board seats more issue corporate bonds, and last hypothesis is whether family ownership more higher more issue corporate bonds. The sample includes firms listed in the Taiwan Stock Exchange from 2001 to 2007, and proved with panel data.
The result also indicates that the ownership of ultimate controller and manager can’t influence debt financing strategies, and debt financing cost is not difference between family and non-family business. In order to avoid private creditor to interfere company’s policy, ownership the higher of family members, the probability of public debt is higher. Final, the broad seats forms with non-family members can’t influence debt financing strategies of the company.
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Luke Lin |
author_facet |
Luke Lin Hsiu-Hui Huang 黃馨慧 |
author |
Hsiu-Hui Huang 黃馨慧 |
spellingShingle |
Hsiu-Hui Huang 黃馨慧 The Study of the Cost and Strategies of Family Business''s Debt financing |
author_sort |
Hsiu-Hui Huang |
title |
The Study of the Cost and Strategies of Family Business''s Debt financing |
title_short |
The Study of the Cost and Strategies of Family Business''s Debt financing |
title_full |
The Study of the Cost and Strategies of Family Business''s Debt financing |
title_fullStr |
The Study of the Cost and Strategies of Family Business''s Debt financing |
title_full_unstemmed |
The Study of the Cost and Strategies of Family Business''s Debt financing |
title_sort |
study of the cost and strategies of family business''s debt financing |
publishDate |
2008 |
url |
http://ndltd.ncl.edu.tw/handle/8s288w |
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