题名

代理問題、資訊揭露和資本投資現金流量敏感性

并列篇名

Agency Problem, Information Disclosure and Investment-Cash Flow Sensitivity

作者

陳俞如(Yu-Ju Chen)；林卓民(Cho-Min Lin)；陳衍佑(Yen-Yu Chen)

关键词

核心代理問題 ； 資訊揭露 ； 資本投資現金流量敏感性 ； Core Agency Problems ； Information Disclosure ； Investment-cash Flow Sensitivity

期刊名称

管理與系統

卷期/出版年月

20卷3期（2013 / 07 / 01）

页次

583 - 609

内容语文

繁體中文
中文摘要

本研究旨在分析公司代理問題、資訊揭露和資本投資現金流量敏感性三者的關係。本研究證實公司代理問題會明顯提高資本投資現金流量敏感性的程度，且核心代理問題對資本投資現金流量敏感性的影響更甚於傳統代理問題。此外，本研究亦發現，公司代理問題使資本投資對現金流量敏感性提高的現象，可透過提高公司的資訊揭露水準來降低。總而言之，本文的最大貢獻是發現核心代理問題是公司資本投資現金流量敏感性的重要決定因素之一。
英文摘要

The purpose of this paper is to investigate the relationships among corporate agency problem, information disclosure and investment-cash flow sensitivity. Our findings suggest that agency problems increase the degree of investment-cash flow sensitivity, and core agency problems have a greater impact than traditional agency problems. In addition, this paper also finds that companies with greater transparency will decrease the degree of investment cash flow sensitivity. In sum, we find that the core agency problems are the key determinant of the investment-cash flow sensitivity, which is our major contribution in the literature.
主题分类 基礎與應用科學 > 統計
社會科學 > 財金及會計學
社會科學 > 管理學
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被引用次数
  1. 陳煒朋,徐淑芳(2019)。資訊揭露與投資人保護：市場風險、股票流動性與企業價值分析。證券市場發展季刊，31(1)，87-140。
  2. 許書偉,江承霖(2017)。媒體報導、投資者注意力與財務報告申報資訊內涵。會計審計論叢，7(1)，75-103。
  3. 黃柏凱,張淑菁,林玉君(2022)。避險是否能增加家族企業的公司價值？。中山管理評論，30(3)，515-554。
  4. 翁慈青,王祥宏(2021)。產業環境對董事會特質與政治關係之影響。會計與公司治理，16(1)，71-121。
  5. 顏信輝、鄭力尹、張瑀珊(2016)。直接採用IFRS 前後財務報表資訊內涵之比較。會計評論，62，33-74。
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