Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm
碩士 === 銘傳大學 === 財務金融學系碩士班 === 103 === Financing to grow bigger in scale is one of the important reasons of Initial Public Offering (IPOs), and which is the subject of this study to explore the factors why companies choose to seasoned equity offerings, raise debt, or take no actions after IPOs. Based...
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ndltd-TW-103MCU052140252017-02-19T04:31:05Z http://ndltd.ncl.edu.tw/handle/03680271040647099240 Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm 考量不可觀察變因下,IPO後公司初次現金增資之決策模型 Yu-An Shih 施昱安 碩士 銘傳大學 財務金融學系碩士班 103 Financing to grow bigger in scale is one of the important reasons of Initial Public Offering (IPOs), and which is the subject of this study to explore the factors why companies choose to seasoned equity offerings, raise debt, or take no actions after IPOs. Based on market feedback hypothesis, a good quality company will find an appropriate time to seasoned equity offerings at a reasonable price after IPOS, because it depressed the price of underwriting during IPOS. However, some other poor quality companies might intimate these actions, so the outsiders could not effectively distinguish the factors of decision-making of seasoned equity offerings. Most study adopted traditional Logistics model, taking the defect which is hardly capture the motivation of seasoned equity offerings, and taking no consideration of company quality. So this study adopting improved Logistic model, taking company management as unobserved effects, to avoid leading to estimation deviations and misinterpretation and other problems. We could expect that the model taking company management and other unobserved effects, so we could correctly analyze the decision-making of seasoned equity offerings. Compared to original Logistic model, this study also can improve the accuracy of the model to predict the company adopted the seasoned equity offerings or not. hung-Jung Lee 李忠榮 2015 學位論文 ; thesis 53 zh-TW |
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碩士 === 銘傳大學 === 財務金融學系碩士班 === 103 === Financing to grow bigger in scale is one of the important reasons of Initial Public Offering (IPOs), and which is the subject of this study to explore the factors why companies choose to seasoned equity offerings, raise debt, or take no actions after IPOs. Based on market feedback hypothesis, a good quality company will find an appropriate time to seasoned equity offerings at a reasonable price after IPOS, because it depressed the price of underwriting during IPOS. However, some other poor quality companies might intimate these actions, so the outsiders could not effectively distinguish the factors of decision-making of seasoned equity offerings.
Most study adopted traditional Logistics model, taking the defect which is hardly capture the motivation of seasoned equity offerings, and taking no consideration of company quality. So this study adopting improved Logistic model, taking company management as unobserved effects, to avoid leading to estimation deviations and misinterpretation and other problems. We could expect that the model taking company management and other unobserved effects, so we could correctly analyze the decision-making of seasoned equity offerings. Compared to original Logistic model, this study also can improve the accuracy of the model to predict the company adopted the seasoned equity offerings or not.
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author2 |
hung-Jung Lee |
author_facet |
hung-Jung Lee Yu-An Shih 施昱安 |
author |
Yu-An Shih 施昱安 |
spellingShingle |
Yu-An Shih 施昱安 Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm |
author_sort |
Yu-An Shih |
title |
Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm |
title_short |
Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm |
title_full |
Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm |
title_fullStr |
Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm |
title_full_unstemmed |
Decision Model with Unobserved Effects of Seasoned Equity Offerings for IPOs Firm |
title_sort |
decision model with unobserved effects of seasoned equity offerings for ipos firm |
publishDate |
2015 |
url |
http://ndltd.ncl.edu.tw/handle/03680271040647099240 |
work_keys_str_mv |
AT yuanshih decisionmodelwithunobservedeffectsofseasonedequityofferingsforiposfirm AT shīyùān decisionmodelwithunobservedeffectsofseasonedequityofferingsforiposfirm AT yuanshih kǎoliàngbùkěguānchábiànyīnxiàipohòugōngsīchūcìxiànjīnzēngzīzhījuécèmóxíng AT shīyùān kǎoliàngbùkěguānchábiànyīnxiàipohòugōngsīchūcìxiànjīnzēngzīzhījuécèmóxíng |
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