The impact of the Derivatives Investment on Firm’s Value

• Main Authors: Trieu Thi Hien, 趙氏賢
• Other Authors: Long – Li He
• Format: Others
• Language: en_US
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/42892196266667336439

碩士 === 國立高雄應用科技大學 === 製造與管理外國學生碩士專班 === 103 === The appropriateness of financial reporting rules for derivative securities depends on corporations' reasons for using the instruments. Empirically, little is documented about how the instruments affect firms' risk exposures. This study attempts to identify which derivatives investment effect to Taiwan's listed companies’ value in 2014. In this thesis, with a study on literature review and total 463 collected companies, seven main derivatives have been mentioned. The data are carried out by using multiple statistical analyses, including reliability analysis, derivatives analysis, multiple linear regressions, anova analysis. The results indicates that, in the seven derivatives have been suggested ( Derivative investment companies (DER), Enterprise scale (SIZE), Liabilities ratio (DA), Advertising and R & D expense ratio (ADE), Market capitalization (LMV), Established years of company (PAGE) and Percentage of shares is hold by managements (CS)), DER has negative relationship with Firm’s value. ADE and PAGE effect positively to Firm’s value.